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I’m pretty appalled by some of the comments here. If someone scams people it doesn’t matter how complex the scam was or how stupid the victim was. It is a crime
by mlazos 4y ago
I’m pretty appalled by some of the comments here. If someone scams people it doesn’t matter how complex the scam was or how stupid the victim was. It is a crime. We aren’t talking about robbing a convenience store here. 40 billion dollars - people’s life savings were completely put up in flames in the name of “innovation”. This is out of control. The reason these sentences need to happen is because retail investors need to be properly informed of the risks, and if leaders of crypto companies continue to say it’s stable and safe they should be prosecuted when it turns out not to be the case.
- anuraaga 4y agoI think people are missing that this is a money crime. In other words, the ROI from the crime is obvious, as opposed to something like murdering due to mental unhealth. Then it's just a risk reward calculation - if the possible upside of a crime is $100B with a small chance of eventually being convicted and sentenced to a couple of years in prison, then it's up to each individual to decide whether it's worth taking the chance. I suspect there will be at least one person that does - but once the possible downside is 100 years, then maybe not. A lower value than that may also be fine, but it's all just an expected value calculation in the end. This is why punitive penalties are needed - both to prevent the same person from recommitting but others from copying. And with money crimes, given the size of the potential upside, it is natural to need a large potential downside to compensate. It's somewhat unfortunate that the penalty for a mental health crime like murder is actually in comparison meaningless - generally the perpetrators are not going to be making the ROI calculation either way...