Earlier quoted context omitted.
> trust in the DeFi economy I thought the whole point was to be trustless?
Having trust in a system is different from trusting individual actors. You have to trust something , there’s no way around it.
Cryptocurrency scams cost owners $7.7B in 2021, driven by DeFi-based “rug pulls”
171–180 of 364 posts
Re: Cryptocurrency scams cost owners $7.7B in 2021, driven by DeFi-based “rug pulls”
#172Earlier quoted context omitted.
Nothing annoys me more than arrogant ignorance. It's like, pick one! You speak as if these are handled as federal matters, and they are not. Contract disputes are handed as local matters, usually in a local district court. Furthermore, when you talk about the court you're talking about a Judge. The Judge gets final say and they can take their sweet time, regard or disregard anything they want. In local matters, Judge…
No that's not how it works. The same basic rules of contract law apply in federal, state, and local courts with only minor variations.
The net result is a system where attorneys are falling over themselves to prove who is more obsequious to all the judges. If you become a problem in one case, you will suffer in your other cases, too, so individuals with legit complaints against the court can and will be ignored.
The net result is a court that ignores all but the most mechanical rules (and loves to stall on those when it can, because it approximates the appearance of "work"), and has no mechanism for correction. I'm sorry, but the rules don't really matter, to anyone.
Re: Cryptocurrency scams cost owners $7.7B in 2021, driven by DeFi-based “rug pulls”
#173Earlier quoted context omitted.
Socially acceptable. Because I am not going to acknowledge or respect a Turkish summons. Although I would expect a Turkish hit squad. >You cannot legally rob a bank just because they left it unlocked and unmanned. Exactly - because it isn't a bank, it is a bunch of cash on the street, if it was unlocked and unmanned. And even if there was a clear Sticky Note with foreboding text, you would be in the clear to pocket a…
I found someone's car keys in the street this morning. I'm pretty sure that didn't entitle me to their car.
If you found a gift card with the PIN in the street, it would entitle you to a moral inhibition. If you went through a stack of discarded gift cards and found ones with change, you would be less morally wrong, but just as legally right.
Finding a debit card in the street with the PIN is akin to finding someone's wallet.dat file on their github. That is stealing, so no comparison.
Re: Cryptocurrency scams cost owners $7.7B in 2021, driven by DeFi-based “rug pulls”
#174Earlier quoted context omitted.
You obviously don't understand basic contract law. US Civil courts routinely apply the principle of equity when interpreting written contracts. Loopholes and errors are disregarded when they violate the clear intent of the agreement.
Nothing annoys me more than arrogant ignorance. It's like, pick one! You speak as if these are handled as federal matters, and they are not. Contract disputes are handed as local matters, usually in a local district court. Furthermore, when you talk about the court you're talking about a Judge. The Judge gets final say and they can take their sweet time, regard or disregard anything they want. In local matters, Judge…
Re: Cryptocurrency scams cost owners $7.7B in 2021, driven by DeFi-based “rug pulls”
#175The “I have no sympathy for the victims” comments are crass. But there is a legitimate question of how much law enforcement these crimes deserve. Arizona has a stupid motorists law [1]. If a car “becomes stranded after driving around barricades to enter a flooded stretch of roadway,” the driver “may be charged for the cost of their rescue.” A similar concept for crypto may be necessary. Law enforcement will pursue. B…
> The “I have no sympathy for the victims” comments are crass. No, they're not. They're entirely reasonable. Stop trying to shame people for expressing a common, reasonable and fair opinion that you don't like.
I agree. They are not unreasonable. They are crass. If a child is told not to touch a stove and then burns herself, I may consider them stupid, but I can still have sympathy for the pain they are experiencing.
Re: Cryptocurrency scams cost owners $7.7B in 2021, driven by DeFi-based “rug pulls”
#176Earlier quoted context omitted.
because it requires introspection, its intentionally a dig at people that rationalize why someone's windfall is "not actually a windfall" like the people who say "$X is not that much these days" (it is and they want it) "That billionaire doesn't really have that much money" (billionaire then sells 10% of their holdings in 3 days for billions of USD) "What about after taxes?" (pay for an accountant, you'll see its bet…
> its intentionally a dig at people So you're intentionally being insulting, then. And you see that as necessary ?
my dig is about introspection, how many other times have they made an excuse to miss all the alpha? are they actually comfortable with the decisions they've made, maybe they are. it just gives them an out to believe whatever they want. sentiment in the crypto space has generally gone this direction right now. everyone is aware of all the arguments against being in the space from traditional finance minded folks, and simply check their stocks and their crypto on two separate screens daily anyway.
Re: Cryptocurrency scams cost owners $7.7B in 2021, driven by DeFi-based “rug pulls”
#177The “I have no sympathy for the victims” comments are crass. But there is a legitimate question of how much law enforcement these crimes deserve. Arizona has a stupid motorists law [1]. If a car “becomes stranded after driving around barricades to enter a flooded stretch of roadway,” the driver “may be charged for the cost of their rescue.” A similar concept for crypto may be necessary. Law enforcement will pursue. B…
Yes let's keep making weird incentives for law enforcement like asset forfeiture. I want police to be like an American ambulance and run my credit card before saving my life.
Re: Cryptocurrency scams cost owners $7.7B in 2021, driven by DeFi-based “rug pulls”
#178Earlier quoted context omitted.
Having trust in a system is different from trusting individual actors. You have to trust something , there’s no way around it.
It may be technically different, but it’s no different at all for the average consumer who hasn’t done a threat analysis.
Re: Cryptocurrency scams cost owners $7.7B in 2021, driven by DeFi-based “rug pulls”
#179Earlier quoted context omitted.
Since when scamming is something we should be ok with?
100% of Crypto "investors" are speculators looking for a quick buck by investing in a system that is pumping needlessly huge amount of carbon into the atmosphere. They're not well-meaning victims who stumbled into the bad part of town, they are greedy thoughtless people in search of free money.
They may be in search of outsized returns, but I think people can absolutely be victims of the ‘have fun staying poor’ meme. The implication is that if you don’t buy into crypto your assets will be decimated by inflation. I think it’s reasonable to consider that it’s not ‘greed’ but rather fear of being left behind that is driving many victims.
Re: Cryptocurrency scams cost owners $7.7B in 2021, driven by DeFi-based “rug pulls”
#180Earlier quoted context omitted.
> The “I have no sympathy for the victims” comments are crass. No, they're not. They're entirely reasonable. Stop trying to shame people for expressing a common, reasonable and fair opinion that you don't like.
But shaming victims is acceptable?