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But he isn't, that's the core problem. He was a Ringer that was clearly parachuted in. The NYTimes puff piece absolutely confirmed that. Sam's not the first a

But he isn't, that's the core problem. He was a Ringer that was clearly parachuted in. The NYTimes puff piece absolutely confirmed that. Sam's not the first and he won't be the last. I got over the hype back in 2014, once you take the rose colored glasses off guys like Sam are easier to identify.

brindlejim 4y ago
The NYT interview confirmed nothing. People who argue that the NYT piece confirmed anything simply do not understand journalism. That was an interview-based piece that gave SBF a lot of room to talk. The *same* reporter published this piece today, based on Ray's court filing: https://www.nytimes.com/2022/11/17/business/ftx-bankruptcy.html https://www.nytimes.com/2022/11/17/business/ftx-bankruptcy.h... And I quote: > "John Jay Ray III helped manage the aftermath of some of the largest corporate failures in history, including the implosion of the energy trading firm Enron after an accounting fraud scandal in 2001. > But the corporate dysfunction at FTX, the collapsed cryptocurrency exchange that he took over last week, is the worst he has ever seen. > In a blistering court filing on Thursday, Mr. Ray described an astonishing level of disarray and said he had never seen “such a complete failure of corporate control.” He listed a series of “unacceptable management practices,” including the use of an unsecured group email to access sensitive data, and said the financial information maintained by FTX was deeply untrustworthy. > “From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented,” he wrote in the filing in the U.S. Bankruptcy Court for the District of Delaware." The evidence against SBF is damning. The NYT will continue to report that. You can cherrypick their pieces if you want to. But what you should be doing is looking at the 10,000 ways that crypto made SBF and FTX what they were, through your credulity and greed. The NYT had nothing to do with that.
guiriduro 4y ago
See cf No True Scotsman fallacy, of which this would be a perfect example.
- woah 4y ago
  No. The entire purpose of cryptocurrency is to enable holding assets without intermediaries having custody of the assets. Whether or not you think this is valuable is another question, but it is undeniable that this is the technical ability that cryptocurrencies enable. SBF created a giant custodial casino where one could bet on cryptocurrency prices, and people lost money that they gave him custody over. If they had held it in their own wallets, they would not have lost it. Many people in the cryptocurrency community spoke out against him for a long time. This is like if SBF had a penchant for kilts, the media was asking “what does this mean for Scotland?”, actual Scottish people were saying “this has nothing to do with Scotland”, and you come in with the comment “nO tRuE ScOtSmAn”
  - johnnymorgan 4y ago
    Well said, this is clearly the case here.
  - brindlejim 4y ago
    Tell that to the vast majority of crypto holders who cannot master the underlying technology of crypto and therefore rely on the exchanges. Crypto is not contiguous with your highly selective, normative definition. Crypto is everything done by everybody buying, selling and building tech for crypto.

brindlejim 4y ago

The NYT interview confirmed nothing. People who argue that the NYT piece confirmed anything simply do not understand journalism. That was an interview-based piece that gave SBF a lot of room to talk. The *same* reporter published this piece today, based on Ray's court filing: https://www.nytimes.com/2022/11/17/business/ftx-bankruptcy.html https://www.nytimes.com/2022/11/17/business/ftx-bankruptcy.h... And I quote: > "John Jay Ray III helped manage the aftermath of some of the largest corporate failures in history, including the implosion of the energy trading firm Enron after an accounting fraud scandal in 2001. > But the corporate dysfunction at FTX, the collapsed cryptocurrency exchange that he took over last week, is the worst he has ever seen. > In a blistering court filing on Thursday, Mr. Ray described an astonishing level of disarray and said he had never seen “such a complete failure of corporate control.” He listed a series of “unacceptable management practices,” including the use of an unsecured group email to access sensitive data, and said the financial information maintained by FTX was deeply untrustworthy. > “From compromised systems integrity and faulty regulatory oversight abroad, to the concentration of control in the hands of a very small group of inexperienced, unsophisticated and potentially compromised individuals, this situation is unprecedented,” he wrote in the filing in the U.S. Bankruptcy Court for the District of Delaware." The evidence against SBF is damning. The NYT will continue to report that. You can cherrypick their pieces if you want to. But what you should be doing is looking at the 10,000 ways that crypto made SBF and FTX what they were, through your credulity and greed. The NYT had nothing to do with that.

guiriduro 4y ago

See cf No True Scotsman fallacy, of which this would be a perfect example.

woah 4y ago
No. The entire purpose of cryptocurrency is to enable holding assets without intermediaries having custody of the assets. Whether or not you think this is valuable is another question, but it is undeniable that this is the technical ability that cryptocurrencies enable. SBF created a giant custodial casino where one could bet on cryptocurrency prices, and people lost money that they gave him custody over. If they had held it in their own wallets, they would not have lost it. Many people in the cryptocurrency community spoke out against him for a long time. This is like if SBF had a penchant for kilts, the media was asking “what does this mean for Scotland?”, actual Scottish people were saying “this has nothing to do with Scotland”, and you come in with the comment “nO tRuE ScOtSmAn”
- johnnymorgan 4y ago
  Well said, this is clearly the case here.
- brindlejim 4y ago
  Tell that to the vast majority of crypto holders who cannot master the underlying technology of crypto and therefore rely on the exchanges. Crypto is not contiguous with your highly selective, normative definition. Crypto is everything done by everybody buying, selling and building tech for crypto.