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> Do Kwon probably should do jail time. Why? These ~~marks~~ investors wanted free unregulated finance on the blockchain, and they got it. Where's the crime?
by ForHackernews 4y ago
> Do Kwon probably should do jail time.
Why? These ~~marks~~ investors wanted free unregulated finance on the blockchain, and they got it. Where's the crime?
- tehlike 4y agoInvestors also wanted to invest in a ponzi with madoff - does that make it ok?
- ForHackernews 4y agoI don't think they knew they were putting money in a Ponzi scheme. They thought the gains were coming from real investments. People who spent money on Terra/Luna knew it was a cryptocurrency that used magic computer maths to make numbers get bigger (until number got small), same as all the other cryptocurrencies.
- tehlike 4y agoThat's a ponzi too, and no, your ordinary American only looked at the large yield and said oh, i should get in on that, even though, it was some sort of ponzi with funny dynamics. So no, it's still a ponzi, and no, most people had no idea.