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Comment by k__ | Hacker News Reader

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k__·

Because it doesn't?

In fact, many crypto proponents are happy that these centralized pseudo-banks get all flushed the out.

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Claim to be happy. There's a reason "this is good for Bitcoin" is a meme.

And rightfully so.

Competing with centralized entities is hard.

If a person wants an industry to succeed, they will want companies in the industry to behave honestly. And if a company behaves dishonestly, they will want the dishonest company to leave that industry. Why is that so hard to believe?

Because shills exist, who claim something is good when they know it's bad. Typically due to a vested interest, like wanting the industry to succeed. "This is good for Bitcoin" is a meme precisely because these people exist, publicly trying to spin any negative into a positive.

Pretending collapses like FTX don't impact the cryptocurrency space in negative ways is dishonest.

Companies like FTX collapsing do negatively affect the space. But what's even worse is companies like FTX that are irresponsible and haven't collapsed yet. What's a guy to do?

I warned people last year not to use FTX. Now FTX is gone. Please tell me what feelings I'm allowed to feel now that they're finally gone.

Feel however you like. I will continue to feel that most "this bad news is actually good for crypto" claims involve quite a bit of at least motivated thinking and pure shillery at worst.

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