Because we're tired of a dumpster fire of scams and fraud being sold as the revolutionary future of all finance and money.
We do not want that future. We don't even want the bitcoin present. We think it's bad and will cheer as it implodes.
There was a time I thought something like bitcoin had a useful role to play in the world, never as a consumer/retail thing, but more a zero trust alternative to existing clearing houses used by businesses. The mania around getting rich quick on crypto coins has utterly destroyed that possibility.
You can call it hate if you like. I don't particularly care. I do think spreading this criticism to counter the hype and straight up fraud pitches is justified, including being rather emphatic about it.
Merkle trees and consensus algorithms predate "blockchain." So far blockchain has very little to offer other than solutions to Sybil attacks that so far are net negative in externalities.
I can't speak for others, but personally my great dislike for it is the very high rate of scam-like behaviour.
Every where you look, it turns out that someone is doing a 'rug pull', using customer funds in ways that don't line up with what they said publicly, or using misleading and deceptive behaviours to con others into giving them money.
Bitcoin is neutral and almost uninfluentiable by any single party. It‘s neutral, all the rules are out there, nobody has an information advantage. With Ethereum it‘s a bit more difficult because it has a history of being very transparent but there is still Vitalik as the BDFL. Almost everything else in „crypto“ is a mostly centralized system with the same points of failure as traditional financial systems (IoUs => bank rund). It is dishonest to conflate Bitcoin with all these possible scams. I hope Ethereum can establish itself as a neutral, natural law kind of system as well (removing Vitalik from the equation). Because on top of Ethereum more people can built trust less systems that can have bugs but that can‘t really be scams because all the mechanics are public and nobody can have an information advantage.
I need a name for the cognitive distortion where someone says "X is bad" for valid reasons and then jumps immediately on a much worse solution. Applies not just to crypto but to bringing up the Iraq war; or complaints about "MSM" leading people to choose entirely fact-free nonsense channels or literal Russian state propaganda TV instead.
1. Because everyone touts "avoiding government regulations" - what most of us call "crime" - as one of crypto's primary reasons.
2. Because there are so many scams in the field.
3. Because crypto people have this unattractive combination of acting superior to others while literally never having read about or even thought deeply about economics.
4. Because after 13 years, not one Web3 project has emerged that has any value outside cryptocurrencies.
5. Because blockchains are wildly consumptive of the world's resources, right when we see the devastation of our biosphere roaring down on us.
