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I'm not sure things will be that smooth for him. It sounds as though both DOJ and SEC are looking into this: https://ustoday.news/both-the-doj-and-sec-are-investigating-...
Look at his connections, nothing of consequence will happen to him.
I'm not a luddite (on hacker news lol) and I can clearly see the revolutionary potential of blockchain. But, for the love of God, can we STOP the blind short-term speculation on the promise of extreme wealth. Moderate investment can support development without the kind of hype that ruins lives and sullies public perception of the technology.
> can we STOP the blind short-term speculation on the promise of extreme wealth I first played around with blockchain in 2011 or so and I still don't know what actual utility this technology is supposed to have. I have never -- never -- encountered a value-producing use case for cryptocurrency that can't be solved by either signed git commits or a SQL database. Around 2015 a lot of people I thought were smart enough…
For me, enthusiasm for "the blockchain" is a quick way to identify a) people who promote technologies without bothering to research the fundamentals and b) crooks/charlatans.
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> can we STOP the blind short-term speculation on the promise of extreme wealth I first played around with blockchain in 2011 or so and I still don't know what actual utility this technology is supposed to have. I have never -- never -- encountered a value-producing use case for cryptocurrency that can't be solved by either signed git commits or a SQL database. Around 2015 a lot of people I thought were smart enough…
I don't trust you, you don't trust me, neither of us trust the guy who owns the git server but I need to give you something without anyone being able to stop us.
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Guess I’m a Luddite as I only see blockchain tech as a solution in search of a problem. I think it’s worse than useless and crime isn’t a valid use case.
Separation of money and state is definitely a worthwhile goal in my opinion. Everything else is more questionable.
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> high-risk exchanges like FTX Larry David + Steph Curry "endorsed" television commercials?
Technically speaking Larry David was discouraging people from using FTX.
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I don't trust you, you don't trust me, neither of us trust the guy who owns the git server but I need to give you something without anyone being able to stop us.
Signed git commits, as per the parent.
You can't trust the git guy.
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Separation of money and state is definitely a worthwhile goal in my opinion. Everything else is more questionable.
The state has a monopoly on the use of force. It can tax, expropriate, conscript, regulate, and otherwise redirect resources however it wants, and it can demand payments in any currency it chooses. The wishful thinking involved in trying to "separate" money and states is absurd. Even under a gold standard, the government can acquire resources from the public at will. The entire goal is nonsense. The root desire there…
Maybe something could have been different this time? In the end it wasn’t, and it proves the necessity of regulation and institutions.
There aren’t very many other aspects of our society where we get to have that kind of experiment and find out whether our approaches to past problems were really correct. Letting us do that may turn out to be the true value of crypto, after the coins go to zero and we start mentioning it in our history books alongside tulip mania and the South Sea bubble.
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I don't trust you, you don't trust me, neither of us trust the guy who owns the git server but I need to give you something without anyone being able to stop us.
> give you something Eh? You can’t like give me anything - you can give me a token - which can also effectively be money. The latter usually occurs due to some other trust relationship needing to be established - we are back at square one.
Does this bankruptcy include FTX US? A bunch of people in yesterday’s thread were saying that FTX US is safe, which seemed strange.
If the guy is dipping into supposedly segregated client accounts to run his prop trading, and lying about it.. why would he not do the same with FTX US money.