Harsh sentence. What could possibly have helped reduce it?
Maybe if he had taken some responsibility and demonstrated remorse? He may have felt he was too smart for this situation and could continue fooling people?
Sam Bankman-Fried sentenced to 25 years in prison
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Re: Sam Bankman-Fried sentenced to 25 years in prison
#592It's funny. I lost tens of thousands of dollars thanks to this individual, yet his sentence brings me no joy or arouses any emotion at all. I'm utterly indifferent to his fate for some reason and I don't know why. Yet if he had been a mugger who stole a much smaller amount of money from me on the street, I think I would've been far more vengeful. Should I feel vindictive? Or is it healthy to forget about it and move…
It's a bit of a different scale/topic, but I found the discourse here quite insightful. It talks about the method "Restorative Justice" by going through a concrete example where this was lacking. Really heartwarming to listen to.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#593[flagged]
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Re: Sam Bankman-Fried sentenced to 25 years in prison
#594One Sam down, one to go
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Re: Sam Bankman-Fried sentenced to 25 years in prison
#595I sincerely wish every centralized exchange had their own SBF to burn them down. The negative impact of "investors" has been terrible for crypto. They've turned what should have been a trustless medium into a caricature of traditional banking with all of its downsides and none of the benefits. Whats the point of computing all the hashes if you end up handing your coins to some guy who pinky promises to pay them back…
Without centralized exchanges, do you think crypto would ever really have become a thing? I like to think it would, and that we don't need exchanges, because I too have a strong dislike for exchanges (if not a hatred), but I'm a fairly technical user and even for me it's not exactly easy to be deep into crypto without exchanges. Particularly when it comes to exchanging dollars for coins.
In (my preferable) alternative universe, there would have been no speculation and to buy crypto you would have to buy in smaller amounts in cash or at local shops. It would have displaced PayPal and been used primarily for e-commerce and local small dollar value transactions to allow small businesses to escape ACH fees. The largest movers would have been international travelers and migrant workers.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#596An uncle once commented about a cousin of ours that he demonstrated how it's possible to screw things up so badly that you can't possibly recover. I think that's true for Sam. I hope it's not true for the people in his orbit; I hope they can get out from under this and try to find meaning, ideally from repairing the harm they've done. As Rick Heicklen writes, "We are not ever going to be Sam. But we could be Caroline…
FWIW, I didn't find Lewis's book as bad (or amoral) as it's often made out to be. Yes, he didn't put his judgement in every paragraph, but his description of SBF was: a) absolutely damning! SBF's lack of empathy, his notion that (given that everyone else is stupid) he knew best and should basically ignore the advice of everyone else (particularly his elders), his naive utilitarianism without any deontological/virtue…
The problem with Lewis's book is that it was pretty clear it was an on-a-dime pivot from the original story he had planned to tell, about a wunderkind revolutionizing finance and trying to save the world at the same time.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#597I met a nice Israeli filmography couple (somewhat known in Israel, I think) in Tulum last summer. After conducting important business, they were telling me about how they were vacating on the back of a nice windfall -- they got paid upfront for an editting/production job which was unprecedented and generous. Implications of lots of money and some "image rehabilitation". They're acting a bit coy about it, and I'm feel…
Tulum seems so greasy. I want to see it anyway.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#598Seems low for what prosecutors consider "one of the biggest financial frauds in U.S. history." https://www.reuters.com/technology/sam-bankman-fried-be-sent...
Low? That's high! He didn't kill anyone. A sentence of 25 years completely destroys his life. He's been made an example of.
Retribution is a part of the justice system
Re: Sam Bankman-Fried sentenced to 25 years in prison
#599I met a nice Israeli filmography couple (somewhat known in Israel, I think) in Tulum last summer. After conducting important business, they were telling me about how they were vacating on the back of a nice windfall -- they got paid upfront for an editting/production job which was unprecedented and generous. Implications of lots of money and some "image rehabilitation". They're acting a bit coy about it, and I'm feel…
Tulum seems so greasy. I want to see it anyway.
Tulum is fine but I would not ever go again if my friend didn't live there. It's just the intersection of nacros, tourism, cancun spillover, hella overpriced beach clubs. Probably my least favorite place I've been in Mexico, tbh.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#600Earlier quoted context omitted.
It is funny - especially when you consider a mugger on the street would need your money much more than SBF ever would.
Not really. The use of a gun/knife/lethal force implies a much different risk profile (you could easily die or be crippled for life). It's not about the money - it's about the violence.
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