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Exactly, crypto was only peripherally related to the legacy financial fraud. But everyone, including this site, wants you to think this was a, "crypto bro's" sc
by HN_is_for_gemes 4y ago
Exactly, crypto was only peripherally related to the legacy financial fraud. But everyone, including this site, wants you to think this was a, "crypto bro's" scam, SBF was NOT a crypto bro, he was a rich kid.
- maxbond 4y agoWhat disqualifies him as being cryptobro?
- MacsHeadroom 4y agoMany things. But for one, he lobbied for a future where individuals would no longer legally be able to use blockchains directly or build businesses on them (aside from pure direct person-to-person payments). Doesn't get much less "cryptobro" than lobbying against people being able to use blockchains.
- SV_BubbleTime 4y agoI think he said a lot of things; and did the complete opposite. Why would any one statement carry any weight at all?
- whatshisface 4y agoWell, since crypto bros actually believe their statements about NFTs etcetera, that's another way of agreeing with the thesis.
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- bmitc 4y agoIt was traditional, centralized finance that kept this from spreading. But because it's crypto, they had effectively no auditing or reporting requirements. And part of the central grift was their FTT token. Crypto was a major factor in this scam and others. True decentralized crypto will never be integrated into society. Crypto fundamentalists can't get past these things.