Public Makes Millions on Plunging Crypto
Key topics
A heated debate erupts over the economic impact of cryptocurrency, with some arguing that its volatility can actually benefit the broader public by reducing demand for high-demand goods and promoting equality. However, others counter that crypto has no tangible connection to actual production, unlike stocks and real estate, and is essentially a zero-sum game where most participants lose in the long run. The discussion gets lively as commenters dissect the article's thesis and tone, with some calling out its perceived bias and others drawing parallels with other large markets, like Apple's. As the conversation unfolds, it becomes clear that the true value – or lack thereof – of cryptocurrency is still a contentious issue.
Snapshot generated from the HN discussion
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Active discussionFirst comment
31m
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Avg / period
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Based on 23 loaded comments
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- 01Story posted
Dec 18, 2025 at 2:17 PM EST
22 days ago
Step 01 - 02First comment
Dec 18, 2025 at 2:48 PM EST
31m after posting
Step 02 - 03Peak activity
18 comments in 0-2h
Hottest window of the conversation
Step 03 - 04Latest activity
Dec 19, 2025 at 10:36 AM EST
21 days ago
Step 04
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Equality in itself is good for the public.
However, i don't think this is a reasonable perspective. Naturally, it should also extend to stocks and real estate.
Uh, no..? The argument is just what the OP says it is: 'investing' in crypto does nothing productive for the real economy and thus is useless to society.
> The gang would be able to buy all sorts of things with their counterfeit money...
Formally it is not counterfeit. The issue is that you afford buying power to some people that others are not afforded - inequality.
In many countries "exploited" means that the country is so corrupt that "yes, but your crypto savings can disappear overnight" is not a very good argument against crypto, because the normal system has the same problem.
But it's also the only way Venezuelans, Egyptians, and many others ... have any banking services at all.
So I would argue crypto is a lot more useful than Apple. Just not to people living in the richest countries.
So shorting should come with a lot of warnings.
Probably something like 90+% lose over longer term. And you make nothing until you sell.
Crypto holders' unrealized loss is exactly equal to crypto sellers' realized gain.
That's me right now.
Okay, let me walk through it. I think what's going on here is an extreme double-fallacy: The idea that (1) there is a fixed supply of money (2) that consistently and fairly translates to spending power.
Both of these things are wildly wrong, rendering this article pure idiocy.