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It's really unfortunate so many VC's and people in the tech industry lent credibility to such naked fraud. It made (and continues to make) regulation politicall

It's really unfortunate so many VC's and people in the tech industry lent credibility to such naked fraud. It made (and continues to make) regulation politically untenable. One of our political parties _continues_ to insist the crypto industry is "innovation!" and it'd be a mistake to stifle such incredible innovation. It's all bs. I'm sorry you fell victim to this. It's a shame the regulators, meant to protect consumers from this exact thing, weren't able to do their jobs. Don't take it as a personal failure. This was systemic, and you were served up by lots of deeply monied interests.

__loam 3y ago
I mean the VCs literally make their money from pump and dump schemes. There are a ton of startups in the valley that have ludicrous valuations. VC can do the initial investments then recoup their capital even before companies are profitable as we see with examples like Uber.
lightfield1002 3y ago
Or you could take personal responsibility for having ignored everybody who said for years that it's all BS. This was not a secret, unforeseen, some higher natural power. It was delusion, and if you choose not to listen then it's up to you. Don't blame it on regulators.
- the_gastropod 3y ago
  Hey, I was one screaming at everyone about how silly it all was. I’ve got a nice decade of HN comments to demonstrate. BUT I also have a decent interest in personal finance and understand that world better than your average bear. It sucks that predators are just allowed to scam less informed people, and this is the response they have to deal with. We’re all getting older, and there’s a good chance we’ll lose some of our faculties along the way. I’d prefer to live in a place that does something to help protect me from outright scams, and not have to take “personal responsibility”, and constantly be on guard against every potential bad actor.

__loam 3y ago

I mean the VCs literally make their money from pump and dump schemes. There are a ton of startups in the valley that have ludicrous valuations. VC can do the initial investments then recoup their capital even before companies are profitable as we see with examples like Uber.

lightfield1002 3y ago

Or you could take personal responsibility for having ignored everybody who said for years that it's all BS. This was not a secret, unforeseen, some higher natural power. It was delusion, and if you choose not to listen then it's up to you. Don't blame it on regulators.

the_gastropod 3y ago
Hey, I was one screaming at everyone about how silly it all was. I’ve got a nice decade of HN comments to demonstrate. BUT I also have a decent interest in personal finance and understand that world better than your average bear. It sucks that predators are just allowed to scam less informed people, and this is the response they have to deal with. We’re all getting older, and there’s a good chance we’ll lose some of our faculties along the way. I’d prefer to live in a place that does something to help protect me from outright scams, and not have to take “personal responsibility”, and constantly be on guard against every potential bad actor.