It's still a scam even if bitcoin is currently benefiting from the creation of institutional ETFs. FTX was one of the largest financial frauds in history and the founder was disgraced and convicted. There's clearly a large amount of appetite for regulatory action in government right now and afaik the funding in the space has completely dried up. What did we get for all that trouble? A really inefficiet payments system? "Digital Gold"? A fun way to fund terrorists and drug running? Crypto proponents are delusional if they think they can just shake off the reputational damage they brought onto themselves in the past several years.
VCs learning nothing or cynically continuing to try and cash in on this scam isn't exactly an airtight argument, even if my original statement was wrong. FTX also raised a ton of money.
It’s just further proof that people commenting on HN confidently about crypto, do not have any idea what is happening in crypto. This website is not plugged in and you won’t pick up any information about it here.
