Can't have been trained on hackernews then, this is the most anti-crypto space I'm aware of besides /r/buttcoin. i'm also softly anti crypto so not criticizing, just pointing out you're literally in an environment where the opinion you're talking about gets eviscerated every time so it can't be what "everyone is saying"

HN just loves novelty, once crypto made mainstream news HN fell out of love.

The pattern has applied to Tesla/Musk, cryptocurrency, language models and probably much more I'm not aware of.

I don't think it's about novelty - heck people here will praise Unix and C regularly.

It's more that crypto initially had potential, at this point it's been tried and failed to deliver - at least from the value perspective of people here.

  at this point it's been tried and failed to deliver

A trillion dollars of value suggests otherwise.

I mean drug trade is also huge but you won't find many people praising it here (the second part of the sentence you quoted)

The drug trade is meeting a market demand. Most people I know have participated in it passively as buyers.

Boring and trite comparison. I'm assuming you've never taken ibuprofen?

Imagine if dollar bills appreciated in value thousands of times over by hiding them under your pillow.

Some people do more than just imagine =P

I turn 40 this year, and somehow have managed to entirely not touch my meager HODLings since 2018... it's the only reason I still earn USD (i.e. to not cash out any bitcoin).

I'm not rich, yet... but it's been a WILD. fucking. ride. (even just so far). Personally, I cashed out my entire 401(k) in 2016 and invested half of it into Bitcoin... which helps to not spend anything, viewing it as "my retirement, hit-or-miss..!"

I agree about the love of novelty, but two of your examples (Tesla/Musk, LLMs) are also falling out of favor in mainstream news. Especially Elon since Twitter. LLMs too (or at least the hype surrounding them as AGI) have seen mainstream panning of late, in parallel to mainstream outlets

fell out of love because it was no longer novel, or because the novel wore off and they realized it wasn't anything special?