There is a strong bias against scams in general, let alone multi-billion dollar scams.

I would agree if the bias was against the shitcoin casino game where you play to see who can rugpull the fastest. The truth is HN hates even proper cryptocurrencies like BTC, ETH, XMR.

No, That's misinformation. There are actually no "proper" cryptocurrencies.

I'll bite. What would a proper cryptocurrency be?

Using cryptographic signatures and distributed systems theory to authenticate asset transfers is against natural law. It's in Leviticus.

Pardon my ignorance, but what do you mean by "it's in Leviticus"?

Leviticus is a part of the Bible/Torah. It's just a joke obviously, implying that crypto technology is simply against both nature and the writings of thousands years old religious texts.

Thanks for explaining that. was also jokingly implying that the technical foundations of crypto must be disgusting, via Leviticus being associated with purity laws.

Yes, there are. Actual cryptocurrencies: BTC, ETH, XMR. They have an actual blockchain and serve a purpose. Improper cryptocurrencies are tokens built on top of actual cryptocurrencies. All those shitcoins are just tokens implemented as Ethereum Virtual Machine code.

Bitcoin theoretically serves a purpose (if you can stand its delays in settling transactions, which rules out in person stuff) but let’s be real: the vast majority of cryptocurrency use is speculation, not purchase transactions.

> the vast majority of cryptocurrency use is speculation, not purchase transactions

That doesn't deny its purpose though. I've gotten paid via XMR for programming tasks. Anonymously, even. The fact people treat cryptocurrencies like stocks doesn't nullify that.

The truth is the true source of all problems in this space is the exchanges themselves. They are literally unregulated banks in disguise. Cryptocurrencies should not be regulated at all but exchanges definitely should be.