"I personally hope we don't live in a simulated world because if we find out we do the consequences would be horrible.
You listed off two such consequences, that feel more like conclusions to which you have jumped. They are still possible, but not necessary consequences. i.e. There are easy examples of other consequences that do not fall under these conclusions and would deny these conclusions' validity.
"For one it would mean we are victims of an amoral system that doesn't care about personal suffering."
It does not follow that the universe makers or their simulation are amoral and do not care for suffering. For instance, what if along with a universe simulation, there is also a heaven and hell simulation. If you cause harm to other humans in the universe simulation, then you go to the hell simulation for a much longer amount of time. If you suffer in the universe simulation, then you go to heaven. Thus, the system is neither amoral nor uncaring of suffering.
More generally, where does this conclusion come from? Are you posing that if there is suffering in the universe, then the universe maker does not care? Religion and theology have answered this question. You would be right that it is a strong argument that a good God or maker does not exist if the universe allows suffering, but there are many reasons why a good God or maker may have made the universe while allowing suffering. I'd say the same could be said about a good programmer/civilization.
For more info, read this, and replace "god" with whatever you think might have programmed the universe:
https://en.wikipedia.org/wiki/Problem_of_evil
"Also it would rule out any chance of us ever finding the true nature of reality."
That's an interesting question. I wonder if theoretical computer science has an answer: namely, can a software confined entity gain knowledge of the outside world. I'm thinking stuff like: "Well, we figured out the software logic behind our universe, hence the computer it is running on must have this type of architecture." This would actually be fucking amazing for science. It's like understanding something about what made the big bang and possibly other universes.
Or if we are just interested in concocting one scenario that dismisses this conclusion, then we might consider that in our "heaven and hell" simulation example above, when a human from the universe simulation gets to the heaven simulation they are granted a download of the full schematic of the real universe and the simulations place inside it. So it is not a necessary conclusion that there would be no way of learning of the outside universe.
My main point here is that we can't jump to a lot of conclusion about this stuff. You don't know that everything is futile just because you are in a simulation.
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