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Sam Bankman-Fried sentenced to 25 years in prison
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Re: Sam Bankman-Fried sentenced to 25 years in prison
#842Many of the comments here about the utility of punishment is very utilitarian, which is ironically fitting since we're talking of SBF. What I never see acknowledged (or believed) by more lenient people is the fact that adequate punishment (sometimes harsh is adequate) serves to send a message not only to other offenders, but maybe most importantly to non-offenders, that the justice system is worth something. "Crime d…
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Re: Sam Bankman-Fried sentenced to 25 years in prison
#843Bitcoin is and will be a digital scam
Re: Sam Bankman-Fried sentenced to 25 years in prison
#844Earlier quoted context omitted.
> kid He's a 32 year old man.
No no, he is rich so of course he is just a kid, lost in the sauce, accidentally squandering a few billion. Now, 16 year old male from a low income household, those are men, and should know the consequence of their actions better. /s This infantilizing is disgusting propaganda in and of itself.
It’s the label ‘man’ something you give to someone that is grown up?
Friedman is many things, but ‘grown up’ is not something that I think applies.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#845Earlier 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…
Crypto is one of the only markets where someone with virtually zero investment can become very rich. It's not easy, but smart traders can make a lot of money. You are not doing that at the casino.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#846SBF is 32 years old - 25 years isn't a death sentence for him Parole is available after 1/3 of term, realistically he won't serve 100% There's still a chance for him to get something out of his life post jail
What a travesty of American justice. He'll be out in 12-13 years and will jet off to the mansion he bought for his parents in the Bahamas with his customer's money. You just know the smug felon has a huge BC wallet Caroline is hiding for him. He's directly responsible for the 3+ suicides that have happened due to his deception and theft but he'll live in luxury for his silver and golden days.
And people are on here arguing that this sentence is too long. How laughable.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#847I love harsh American justice. In some countries you can stalk, kidnap, rape, kill, and then dismember a child and get less of a sentence than SBF. I have seen terrorists conduct attacks where mass casualties and death occur, they get sentenced to five years, get "rehabilitated" and then go free and do it all again. I have heard people drone on about American prison sentences being overboard but after seeing hundreds…
Sorry but you’re suggesting that the USA is the only country that gets punitive justice right? Works pretty well out here in Australia, or much of Eastern Europe.
Yeah they may have got it right on SBF but they get in wrong in plenty of others. See groups of shoplifters clearing out stores in SF in full view because no one will prosecute for example. https://youtu.be/Uo-LIGTHZc8?t=36
Re: Sam Bankman-Fried sentenced to 25 years in prison
#848Earlier quoted context omitted.
I very much agree. "Number go up" by Faux is the better book in many respects, but Lewis's book contains much background info not reported elsewhere. Lewis's book is damning about SBF as you said. About how unapologetic and manipulative he is. About his willingness to gamble with other people's money. About his complete lack of ethical boundaries. About the casual way SBF ignored all laws he didn't like. About SBF's…
> About how unapologetic and manipulative he is. About his willingness to gamble with other people's money. This describes most bankers? They’re generally smarter in that they work for an organization that dillutes responsibility for their crimes.
That's why most bankers are subject to all the laws that SBF didn't like.
Re: Sam Bankman-Fried sentenced to 25 years in prison
#849Earlier quoted context omitted.
What is the goal of the punishment? If it is to harm him and make the rest of the world satisfied with it 25 years behind bars seems enough to me, I don’t care if it is 25, 35 or 155. In five years I will have forgotten about this. If it is stopping others, same thing, I don’t think that if someone is determined to do something similar would care about 25 or more years.
It’s to stop him first - he won’t be running financial fraud schemes for 20-25 years Then it’s to stop other bright minds from attempting anything like this - they’ll remember SBF. His crime has a price now: 20-25 years
Just a quick reminder to any potential felons in finance/crypto/corporate settings. If you decide to rob billions from the public, we'll let you out in about a decade as long as you don't beat someone up in prison. Just make sure you hide your money well!
Sincerely
The American Legal System
Re: Sam Bankman-Fried sentenced to 25 years in prison
#850To put this into its proper perspective, see table 7 here: https://www.ussc.gov/sites/default/files/pdf/research-and-pu... In 2022, the average murderer in the Federal Southern District of New York (N = 58) was sentenced to a median of 231 months, which comes out to 19 years and change. No crime of any type had an mean or median sentence higher than 25 years; most were far less than half. So it should be really hard…
Three people killed themselves after losing everything. The feds used FTX as an excuse to ramp up operation chokepoint 2.0, which left countless startups bankless. It was a light sentence.