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Sam Bankman-Fried sentenced to 25 years in prison

cnn.com

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Re: Sam Bankman-Fried sentenced to 25 years in prison

#671

Post by freedomben »

bgitarts wrote: post #615
freedomben wrote: post #504

Earlier quoted context omitted.

Purely speculation on my part, but I tend to feel similarly, and I think the reason is that the mugger includes a physical threat of violence. Evolutionarily, the emergence of an economy with capital at modern-day scales are so new that we haven't had time to really adjust emotionally. It kind of reminds me of the various birds on previously untouched-by-humanity islands that had no fear of humans and would just sit…

I had a business partner/family member steal money from me in our business. It very much hurt and was a painful experience hoping for vengence. Perhaps SBF being distant from you is what makes you indifferent.

Yes that's fair criticism regarding my feelings, but GP feels the same and they had stolen $10K. So the distance from it can't be all there is to it.

I'm also pretty distant from a mugging that might happen today, but I find myself getting angry about it, so that also seems to contradict the theory that it's about distance (though to be clear, I largely agree with you and I suspect distance is going to be a factor for most or maybe the vast majority of people).

Re: Sam Bankman-Fried sentenced to 25 years in prison

#673

Post by ragazzina »

jejeyyy77 wrote: post #632
ragazzina wrote: post #474

Earlier 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.

lol I don't consider how much a criminal "needs" the money.

So a person stealing their eleventh billion and a person stealing to eat something are the same for you?

Re: Sam Bankman-Fried sentenced to 25 years in prison

#674

Post by thenoblesunfish »

publius_0xf3 wrote: post #449

It'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…

Maybe on some level you felt that the risk of this kind of thing was part of the investment decision? Presumably this was high risk, high return sort of stuff. As others say, the mugger is threatening you physically - SBF just cheated (I assume, haven't read the details) at a game, wild west new types of badly regulated investments.

Re: Sam Bankman-Fried sentenced to 25 years in prison

#675

Post by roughly »

Dalewyn wrote: post #542
Vicinity9635 wrote: post #490

Earlier quoted context omitted.

"AUSA Nicolas Roos: Samuel Bankman-Fried stole $8 billion dollars. It was theft, from customers spread all over the world. It was a loss that impacted people significantly and caused damage. I want to address a few of the new victim letters" "AUSA Roos: They lost their life savings. A man who lives in Portugal - the day before bankruptcy his daughter was born. He was marred by the ominous specter of financial instabi…

[flagged]

Except we got rid of pensions in favor of 401ks and have basically geared the entire economy to replace any form of social welfare with personal investing.

Re: Sam Bankman-Fried sentenced to 25 years in prison

#676

Post by foobiekr »

freedomben wrote: post #520
__loam wrote: post #509

Earlier quoted context omitted.

I didn't lose a penny and I'm giddy about it. Justice has been done.

> I didn't lose a penny and I'm giddy about it. Justice has been done. How can you be giddy about a human being locked in a cage for 25 years? Would you be giddy if he were being flogged, or hanged? As long as there has been recording, flogging and hangings were common punishments and usually defended as "justice has been done." Incarceration really isn't far from medieval punishments. I'm by no means suggesting that…

Because he is a scamming, unethical asshole who would did profound damage to society.

Re: Sam Bankman-Fried sentenced to 25 years in prison

#677

Post by lesuorac »

ceejayoz wrote: post #248
lesuorac wrote: post #220

Earlier quoted context omitted.

Honestly, downvoted. The top voted comment in that topic is saying he's going to jail. Just because in a forum with a gazillion people some people have a different one doesn't make it representative of the median/mean/etc. Also, it's not bad to have a counter-opinion to a group; it is bad to claim a singular opinion is that of the group without any actual justification. https://news.ycombinator.com/item?id=33908577

The top voted comment in that topic is also saying "For everyone on this thread making broad proclamations about how SBF won't go to jail", yes? Implying quite a few people held that opinion here?

Sure, at least a few people held that opinion. However, that isn't what the post I'm replying to said.

The post I replied to used the literally lowest voted top level comment as their basis of "HN didnt think he was going to jail". They skipped over all of the higher top level comments when making their post (you have to go to the bottom of page 2 to see the one they picked).

Their post is classic bad faith argument and I think it should receive a penalty (downvote).

Re: Sam Bankman-Fried sentenced to 25 years in prison

#678

Post by foobiekr »

retrac wrote: post #437
tombert wrote: post #344

Earlier quoted context omitted.

If I broke into a person's house and stole $1000, even if I didn't directly hurt that person, I could expect to get several years in prison, basically regardless of the state. Lets say three years to be conservative on this? Sam Bankman Fried stole billions of dollars [1], probably often around $1000 at a time from tens of thousands of people. If going with my logic, he should be getting a lot longer than 25 years, u…

Your logic is strange. With robbery, the primary crime is the violence (or para-violent threat), and not the theft. This is easy to demonstrate: the punishment for breaking into someone's home in many jurisdictions is essentially the same, even if you steal nothing.

"the primary crime is the violence"

citation needed

Re: Sam Bankman-Fried sentenced to 25 years in prison

#679

Post by fragmede »

CivBase wrote: post #479
bdcravens wrote: post #459

Earlier quoted context omitted.

Perhaps previous exit scams in the crypto space dulled your senses? If anything, I feel like you should share your story to protect others, especially during times when crypto is peaking (like now) and others are tempted to jump in: use exchanges to buy/sell and get out, store your keys on a cold storage device, and transfer out fiat ASAP.

Surely the better takeaway is to just not bet on crypto in general? It's supposed to act like a currency, not a stock. So long as people keep feeding into these pump-and-dump schemes they'll keep happening. Money doesn't come from nowhere. For every dollar you make on crypto, somone loses a dollar. All these BS coins do is shuffle wealth from the unlucky gamblers to the lucky ones. Go spend your money at a casino ins…

> For every dollar you make on crypto, somone loses a dollar.

If that's not true of the stock market, why would that be true of crypto?

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