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You can go after FTX, what do I have to do with that? Looting my wallet in the name of FTX smells strongly of the redistribution of consequences. Authoritarians

You can go after FTX, what do I have to do with that? Looting my wallet in the name of FTX smells strongly of the redistribution of consequences. Authoritarians like yourself sure do love to punish innocent people for the actions of the guilty. I’m not in favour of bailouts to anybody, nor taxes that fund those bailouts. Take nobody’s money from them and give nobody’s money to me. Like I said, the code is all open source, you can verify any suspicions you have yourself. There is no scam, you’re just grasping for reasons to regulate other people’s money.

colesantiago 4y ago
> You can go after FTX, what do I have to do with that? Liquidity for cashing out will begin to dry up and more on other exchanges such as Binance will do the same thing. Decentralised Exchanges (with absolutely no investor protections, unregulated and are highly prone to rug pulls) will be ordered to shut down, also forcing a drain on liquidity. Once crypto crashes the market will 'loot' your wallet by deeming your crypto worthless and you will forever try to cash out your worthless coins. > There is no scam, you’re just grasping for reasons to regulate other people’s money. It is a scam, just ask the people who lost money with FTX. Or the many people who have been rug pulled here: https://web3isgoinggreat.com/ https://web3isgoinggreat.com/
- alphanullmeric 4y ago
  That’s cool, I don’t really care though. Leave my money alone, I’ll take that risk if I want to. Calling it a scam doesn’t make it a scam. Again, the source is available online, free for you to see. That is the contract you agree to when you choose to participate in crypto. You cannot consent to being scammed, that goes against the very definition of being scammed. Making it illegal for consenting individuals to do what they want is typical authoritarian trash behaviour. Perhaps you’d be happier in Cuba where you can freely control other people’s money to your liking.
  - colesantiago 4y ago
    > Calling it a scam doesn’t make it a scam...You cannot consent to being scammed, that goes against the very definition of being scammed. Making it illegal for consenting individuals to do what they want is typical authoritarian trash behaviour. Who consented their crypto funds to be lost to rug pulls, ransomware, thefts, hacks, pump and dumps, commingling of funds, and their funds being used for leveraged trading? So $12+ Billon lost in crypto is not a scam? and the users agreed and consented to all of this? I'm assuming then that you know some information that suggests that the $12 Billion lost is somehow insured? > Again, the source is available online, free for you to see. This doesn't mean anything. All the people who completely lost their money in FTX, LUNA, BlockFi, etc. do not care about source code. This makes no sense at all. If I was rug pulled in a scam the last thing anyone would care about is the source code. > That’s cool, I don’t really care though. Leave my money alone, You will care once liquidity goes dry and once the crypto crackdown ramps up, then all these tokens plus Bitcoin go to zero. I shouldn't see you moving money or cashing out your crypto because another exchange has fallen down due to regulations or insolvency and the price of these tokens crash.
    - alphanullmeric 4y ago
      Again, it’s simple. You can’t get scammed by an open source project. It’s akin to running a script off of github that gives you a dollar for every two you give it, and then playing victim when lose money. You had the choice to read through the code, you consented to the operation. The results of something you did to yourself are completely irrelevant, regardless of whether or not it worked in your favour. If you actually get scammed by a proprietary and centralized entity like FTX, then go after FTX and not me. Stop defending the redistribution of consequences, my money is not your basic human right.
      - colesantiago 4y ago
        Please, we both know that users are not here for the code nor can or have the time to read through it, you shouldn't be kidding yourself about this fact and we know that you don't read the code of all the crypto smart contracts you interact with. This is why what your saying about 'open source' and 'reed the code' is irrelevant. > You can’t get scammed by an open source project...If you actually get scammed by a proprietary and centralized entity like FTX, then go after FTX and not me. Wormhole got exploited for $320M even though it was an open source DeFi project, this hack is the 2nd biggest of all time for a DeFi project. PolyNetwork got exploited for $620M even though it was an open source DeFi project, the biggest of all time. Where were those reading the code there to stop it? So when your wallet gets drained are you going to 'reed the code' to reassure yourself that you're not going to get your money back? > ...then go after FTX and not me. Stop defending the redistribution of consequences, my money is not your basic human right. It's already happening that FTX is being brought to the law, privacy coins will follow and will be outlawed as they already are from governments around the world. The law is doing all the work and the precedent for crypto will be set from there. You can have a tantrum all you want. But you wanted regulation and regulatory clarity, it's coming and it will affect the crypto prices negatively and will tread on your wallet.

colesantiago 4y ago

> You can go after FTX, what do I have to do with that? Liquidity for cashing out will begin to dry up and more on other exchanges such as Binance will do the same thing. Decentralised Exchanges (with absolutely no investor protections, unregulated and are highly prone to rug pulls) will be ordered to shut down, also forcing a drain on liquidity. Once crypto crashes the market will 'loot' your wallet by deeming your crypto worthless and you will forever try to cash out your worthless coins. > There is no scam, you’re just grasping for reasons to regulate other people’s money. It is a scam, just ask the people who lost money with FTX. Or the many people who have been rug pulled here: https://web3isgoinggreat.com/ https://web3isgoinggreat.com/

alphanullmeric 4y ago
That’s cool, I don’t really care though. Leave my money alone, I’ll take that risk if I want to. Calling it a scam doesn’t make it a scam. Again, the source is available online, free for you to see. That is the contract you agree to when you choose to participate in crypto. You cannot consent to being scammed, that goes against the very definition of being scammed. Making it illegal for consenting individuals to do what they want is typical authoritarian trash behaviour. Perhaps you’d be happier in Cuba where you can freely control other people’s money to your liking.
- colesantiago 4y ago
  > Calling it a scam doesn’t make it a scam...You cannot consent to being scammed, that goes against the very definition of being scammed. Making it illegal for consenting individuals to do what they want is typical authoritarian trash behaviour. Who consented their crypto funds to be lost to rug pulls, ransomware, thefts, hacks, pump and dumps, commingling of funds, and their funds being used for leveraged trading? So $12+ Billon lost in crypto is not a scam? and the users agreed and consented to all of this? I'm assuming then that you know some information that suggests that the $12 Billion lost is somehow insured? > Again, the source is available online, free for you to see. This doesn't mean anything. All the people who completely lost their money in FTX, LUNA, BlockFi, etc. do not care about source code. This makes no sense at all. If I was rug pulled in a scam the last thing anyone would care about is the source code. > That’s cool, I don’t really care though. Leave my money alone, You will care once liquidity goes dry and once the crypto crackdown ramps up, then all these tokens plus Bitcoin go to zero. I shouldn't see you moving money or cashing out your crypto because another exchange has fallen down due to regulations or insolvency and the price of these tokens crash.
  - alphanullmeric 4y ago
    Again, it’s simple. You can’t get scammed by an open source project. It’s akin to running a script off of github that gives you a dollar for every two you give it, and then playing victim when lose money. You had the choice to read through the code, you consented to the operation. The results of something you did to yourself are completely irrelevant, regardless of whether or not it worked in your favour. If you actually get scammed by a proprietary and centralized entity like FTX, then go after FTX and not me. Stop defending the redistribution of consequences, my money is not your basic human right.
    - colesantiago 4y ago
      Please, we both know that users are not here for the code nor can or have the time to read through it, you shouldn't be kidding yourself about this fact and we know that you don't read the code of all the crypto smart contracts you interact with. This is why what your saying about 'open source' and 'reed the code' is irrelevant. > You can’t get scammed by an open source project...If you actually get scammed by a proprietary and centralized entity like FTX, then go after FTX and not me. Wormhole got exploited for $320M even though it was an open source DeFi project, this hack is the 2nd biggest of all time for a DeFi project. PolyNetwork got exploited for $620M even though it was an open source DeFi project, the biggest of all time. Where were those reading the code there to stop it? So when your wallet gets drained are you going to 'reed the code' to reassure yourself that you're not going to get your money back? > ...then go after FTX and not me. Stop defending the redistribution of consequences, my money is not your basic human right. It's already happening that FTX is being brought to the law, privacy coins will follow and will be outlawed as they already are from governments around the world. The law is doing all the work and the precedent for crypto will be set from there. You can have a tantrum all you want. But you wanted regulation and regulatory clarity, it's coming and it will affect the crypto prices negatively and will tread on your wallet.