I mean, 1 —- HN is largely populated by big tech coders who decided selling out the entire world population for a mid $100ks salary from the surveillance state sounds like a good deal.
But 2, there are liquid markets for crypto. So, while you might feel good typing out how you value crypto —- it simply doesn’t matter. Put your money where your mouth is. Short it.
> We just don't accept Monopoly Money as compensation for work rendered.
Every person that took equity in a startup that then went out of business would love to talk with you. Believing bitcoin will be valuable for some people isn't really any different than believing pets.com will be successful or that tesla will actually be able to make electric cars and taking equity instead of cash for compensation.
This is not the same thing. Shares of a company have an actual value: a part of the company's capital (computers, building, etc). At least there is some ground based on real-world something. Of course the company can go bankrupt and owe more money than its capital can cover, but that's still not the same has crypto assets, whose values are purely speculative.
These remote startups building social media sites and SaaS products with Javascript surely own lots of buildings and computers and run their own datacenters!
In the sense that there isn't any difference in spending your annual salary on lottery tickets instead of food. Before you balk, I point you at the handful of winners who raked in billions, a ROI most of these "food eaters" could only dream of.
Hey, if you don't mind your per-diem being less liquid than your stock options, go for it. Thinking pragmatically about the future of cryptocurrency though, I'd reckon it's safer to bet on the US dollar than Bitcoin bouncing back.
