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First and foremost a huge number of people saw their savings and investment wiped out by sociopaths that defrauded them and continuously lied to everyone's face
by bhawks 4y ago
First and foremost a huge number of people saw their savings and investment wiped out by sociopaths that defrauded them and continuously lied to everyone's face as the charade came crumbling down. SBF and his cadre seem likely to escape any form of justice. Indeed there is a chance they'll be able to keep a portion of their ill-gotten gains.
Those directly effected and their friends and family are hurt and angry. Those are the normal feelings to have. They will express them. Now is the time for listening and supporting, not correcting details.
There are other parties that have long standing disagreements with both the EA and crypto communities. Many of them are taking this moment to dogpile and dump on those movements to prove their point. I believe the right response is to reflect and self improve. The crypto community is drastically embracing self custody and defi. Moving transactions on chain will help prevent this type of fraud (and it's the core point of crypto to begin with). This is a reasonable path forward. I'm not plugged into EA but I hope there are similar efforts being made to learn and rebuild.
The best parts of both communities is focused on changing core primitives of human society at a scale never attempted before. If they're going to succeed they will have to overcome much bigger challenges than what this recent disaster caused. It will take time, openness and dedication.
I think both communities really need to realize and prepare for the fact that they're challenging areas that are extremely attractive to sociopaths and psychopaths - money, morality and ultimately power. The community must be able to identify, contain and limit the damage caused by bad actors.