3 ms·
It's victim shaming to say that and not push for the behavior of people who, for instance, told reporters that Luna was doomed while happily making money off pe
by majormajor 4y ago
It's victim shaming to say that and not push for the behavior of people who, for instance, told reporters that Luna was doomed while happily making money off people using his platform to buy it to be criminalized and shamed:
From https://www.bitcoininsider.org/article/165364/sam-bankman-fried-explains-why-ust-crash-was-predictable https://www.bitcoininsider.org/article/165364/sam-bankman-fr... sourcing a Bloomberg interview that itself seems to be paywalled:
-----
One of the most interesting phenomenon happening right now is the rise of Luna and UST. Luna has this Treasury Reserve consisting of a lot of Bitcoin, which seems a little dicey, but some people say any idea of an algorithmically-backed stablecoin is a perpetual motion machine – it’s only a matter of time before it fails. Do you believe there can be a truly decentralized stablecoin? What do you make of these projects?
SBF:
I do have some sympathy to the perpetual motion machine crowd here. They can serve some useful purposes, but if you do zoom out, right, and you say, this is a stablecoin, backed by volatile assets, what’s gonna happen in a big market move. Right? Like, you know how this plays out.
-----
Is there a word better than "despicable" for believing that at least some things in the ecosystem are a scam but still profiting off helping people get scammed by those things?
Why would you just feel bad about the tragedies and not also furious at these people happily making money off of the tragedies?
- astrange 4y ago> Is there a word better than "despicable" for believing that at least some things in the ecosystem are a scam but still profiting off helping people get scammed by those things? Well, he’s the richest ethical altruist out there, so it appears that’s the word for it.
- majormajor 4y agoIs that newspeak for "I know how to use your money better than you or the government"?