Re:Bitcoin surpasses $50K as major companies jump into crypto
by PragmaticPulp on Tuesday February 16, 2021 @06:43PM
(#26160379)
> Truly is a paradigm shift and I think a big problem on HN is that VC can’t see they are being disrupted and have no way of avoiding it,
On the contrary, VCs are making bank on cryptocurrency. Retail investors are just along for the ride.
> plus they think they are untouchable geniuses, so being wrong this hard isn’t pleasant for them.
Again, VCs were all over cryptocurrency investments in recent years. They're ecstatic when the price goes up, because retail investors are pumping an investment they were in long ago.
I don't know how we arrived at this narrative that crypto was a win for the little guys at the expense of institutions.
On the contrary, VCs are making bank on cryptocurrency. Retail investors are just along for the ride.
> plus they think they are untouchable geniuses, so being wrong this hard isn’t pleasant for them.
Again, VCs were all over cryptocurrency investments in recent years. They're ecstatic when the price goes up, because retail investors are pumping an investment they were in long ago.
I don't know how we arrived at this narrative that crypto was a win for the little guys at the expense of institutions.