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How can you feel sorry for them? They're professors of LAW at Stanford. And this white-collar crime was being committed right under their noses. Pynchon would h

by moab 4y ago

How can you feel sorry for them? They're professors of LAW at Stanford. And this white-collar crime was being committed right under their noses. Pynchon would have had trouble coming up with a plot this wacky.

tibbydudeza 4y ago
SBF just played along with the sheer insanity of the concept of crypto (nothing can make nothing) and all the fools who gave him money - it seems that common financial sense is not taught to people anymore or is really in short supply these days. Did people actually listen to him whenever he spoke - whenever did any of his BS make any financial sense ???. https://www.youtube.com/watch?v=C6nAxiym9oc https://www.youtube.com/watch?v=C6nAxiym9oc
- Sebguer 4y ago
  Right, he openly described what he was doing as a ponzi scheme on stage, and everyone just waved it off.
- moab 4y ago
  I mean, that's what I'm wondering about his parents. They must have known, or at least had a feeling. And not looking into that and giving your child some advice not to go down this path, or to be careful, and at the very least, not to get involved yourself, that would have been the responsible thing. Maybe it's the blindness we can all fall prey to when it comes to objectively thinking about our blood.
- mrguyorama 4y ago
  Defrauding willfully ignorant people is still fraud and still a crime. You shouldn't be excused for doing bad things by doing them to people who aren't the brightest or best.
- randyrand 4y ago
  > nothing can make nothing You can make money just buy buying money. There are billionaires in currency arbitrage.
- erulabs 4y ago
  > Nothing can make nothing Is the implication that technology (like blockchain and digital currencies) and financial operations (like brokerages and exchanges) can create no legitimate wealth? Because I might humbly suggest this forum, which is run by a venture capital firm specializing in technology, might not rush to agree with you. Less humbly, if you're suggesting labor is what makes things valuable, that's possibly one of the worst ideas in the history of economic thought. SBF might be a fraud, but it doesn't implicate cryptocurrencies, much less capitalism.

by moab 4y ago

tibbydudeza 4y ago

SBF just played along with the sheer insanity of the concept of crypto (nothing can make nothing) and all the fools who gave him money - it seems that common financial sense is not taught to people anymore or is really in short supply these days. Did people actually listen to him whenever he spoke - whenever did any of his BS make any financial sense ???. https://www.youtube.com/watch?v=C6nAxiym9oc https://www.youtube.com/watch?v=C6nAxiym9oc

Sebguer 4y ago
Right, he openly described what he was doing as a ponzi scheme on stage, and everyone just waved it off.
moab 4y ago
I mean, that's what I'm wondering about his parents. They must have known, or at least had a feeling. And not looking into that and giving your child some advice not to go down this path, or to be careful, and at the very least, not to get involved yourself, that would have been the responsible thing. Maybe it's the blindness we can all fall prey to when it comes to objectively thinking about our blood.
mrguyorama 4y ago
Defrauding willfully ignorant people is still fraud and still a crime. You shouldn't be excused for doing bad things by doing them to people who aren't the brightest or best.
randyrand 4y ago
> nothing can make nothing You can make money just buy buying money. There are billionaires in currency arbitrage.
erulabs 4y ago
> Nothing can make nothing Is the implication that technology (like blockchain and digital currencies) and financial operations (like brokerages and exchanges) can create no legitimate wealth? Because I might humbly suggest this forum, which is run by a venture capital firm specializing in technology, might not rush to agree with you. Less humbly, if you're suggesting labor is what makes things valuable, that's possibly one of the worst ideas in the history of economic thought. SBF might be a fraud, but it doesn't implicate cryptocurrencies, much less capitalism.