Phone interview with Sam Bankman-Fried [audio] • Hacker News Board

Re: Phone interview with Sam Bankman-Fried [audio]

#101

Post by dibt » Wed, Nov 30, 2022, 10:49 PM UTC

remarkEon wrote: post #91

dibt wrote: post #58

Earlier quoted context omitted.

These were the top tokens they held in order of how they marked them on their balance sheet: FTT $5.9B SRM $5.4B SOL $2.2B MAPS $865M Found here: https://images.squarespace-cdn.com/content/v1/596a07c029687f... >May I point you to a chart showing the price of Solana (SBF's preferred token)? Down 80% in four months is a pretty sudden drop in value. FTT, SRM, and MAPS are the garbage tokens they claimed were worth more…

>That's when they minted more FTT. Can you explain how exactly they did this? I want to understand, on a technical level, how they "minted" more of these tokens.

When/who can unlock/mint token supply is defined in a smart contract. It's different for each smart contract.

Here's the code for the FTT Deployer contract:

https://etherscan.io/address/0x50d1c9771902476076ecfc8b2a83a...

I'm not familiar enough with the Ethereum's Solidity programming language to give you an explanation.

It looks like it's an OpenZeppelin template. I've seen these re-used elsewhere. You can look through their docs to understand it better.

https://docs.openzeppelin.com/contracts/4.x/erc20-supply

Re: Phone interview with Sam Bankman-Fried [audio]

#102

Post by RC_ITR » Fri, Dec 02, 2022, 6:40 AM UTC

dibt wrote: post #65

RC_ITR wrote: post #62

Earlier quoted context omitted.

I'm not sure what point you're trying to make by showing me they held $2bn of Solana in Nov-22 (itself, like all crypto, a made up and useless/worthless thing) that was worth $10bn in Nov-21. Like sure, to make themselves feel better when they stared at Excel, they minted FTT to fill the gap, but so what? To your point, just because I mint 1bn coins and sell one to my roommate for $1, it doesn't actually change the f…

> (itself, like all crypto, a made up and useless/worthless thing) oh... I see what's happening here. Good luck on your crusade.

Ignoring all the other points then are we?

And please share crypto's use-case with me. I'd love to be the first to find one.

Re: Phone interview with Sam Bankman-Fried [audio]

#103

Post by cykros » Fri, Dec 02, 2022, 3:02 PM UTC

maxbond wrote: post #49

swader999 wrote: post #9

Earlier quoted context omitted.

Naw, he paid a lot of politicians, he fine.

It's not clear to me that donating to politicians necessarily buys you clemency (in the absence of explicit quid pro quo), but accepting the premise, I think at a certain point, when your crimes and donations are widely publicized, there's a phase transition where it's more likely to work against you. The politicians can't bare the perception of having been bought, and whatever influence they're able to muster is dir…

If he paid enough of the right ones in Bahamas, combined with their extradition policy being what it is, that'd be his one hope. American politicians might promise you a lot, but at the end of the day, the checks and balances don't even give them leeway to truly be quite this openly corrupt. Now, a staged suicide and a new identity abroad...well, you'd have to have paid a LOT of bribes, but this isn't impossible...