▲ 2 points
Ask HN: What's with the pitchforking on crypto? Be honest
Is it envy or lack of understanding related to financial engineering? Or, is it a threat to traditional models, aka disrupting the status quo?
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It's skepticism of what looks awfully like a bubble/ponzi scheme. Your question is predicted on the premise that crypto is necessarily a good investment, but some are skeptical that the underlying work has any value beyond authentication, whereas government-backed fiat currencies are notionally and practically backed by promises of actual resources.