31–40 of 139 posts
How... how did he think this was going to turn out? You fake your death, then run to mommy & daddy's house, and hope no one finds you? And just keep the cash?
Exit Scam (https://www.exitscam.show/) -- Crypto exchange founders rip off their customers so much that it has an actual name, as infamous a grift as the The Money Box or The Big Store. This podcast explores a QuadrigaCX and its founder's likely faked death, digging into a few other crypto scams for parallel examples.
Number Go Up by Zeke Faux (https://www.penguinrandomhouse.com/books/711959/number-go-up...) -- this book, which reads as a cross between investigative reporting and New Journalism, tracks Sam Bankman-Fried's rise and fall, discusses the NFT grift, and explores the weird, wild world of stablecoins. Turtles all the way down on this stuff.
And not everything is scam, there are good projects. That being said the behavior of people and organizations in crypto is poor and will slow adoption. I still regularly see major crypto ecosystems rug pull their own developers. They simply can’t help themselves.
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When I studied political science and economics in college we had a lot of really intriguing discussions around the rise of fiat currency, its pros and cons, its effect on global trade, etc. Some really well thought out opinions on both sides, from "nothing is real, who cares what this piece of paper means" to people who thought it was all a "globalist" scam and that we should be giving the grocer tiny pieces of gold…
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When I studied political science and economics in college we had a lot of really intriguing discussions around the rise of fiat currency, its pros and cons, its effect on global trade, etc. Some really well thought out opinions on both sides, from "nothing is real, who cares what this piece of paper means" to people who thought it was all a "globalist" scam and that we should be giving the grocer tiny pieces of gold…
Hate to say it but I agree — when I see "fiat" in a post the red flags are flapping wildly.
How... how did he think this was going to turn out? You fake your death, then run to mommy & daddy's house, and hope no one finds you? And just keep the cash?
Most people who worry about silly little details such as "consequences" don't go into crime.
> “You can see the PTSD in my eyes, right?” he said before telling this reporter to leave. He was dead, with an obituary even and now back to being alive. Why the PTSD?! He should be rejoicing! /s But I wonder, is faking your death on social media a crime? If he still paid taxes I guess he might be legally out of the woods, just based on the faking part, not related to the scamming thing.
> But I wonder, is faking your death on social media a crime? If it's for financial benefit, it's criminal fraud.
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Somehow yes, and it's quite sad. The blockchain technology itself is a marvel and the safety/security properties of properly decentralized systems are unmatched. The whole financial world would be better written using blockchain/smart contracts, same goes for voting/governance, etc. But these scammers. So many of them... Easy to smell though, but the problem we need to fix is these scammers get most of the online tra…
>The whole financial world would be better written using blockchain/smart contracts, same goes for voting/governance, etc. Citation needed. Governance and finance absolutely need human judgment recovery edge cases such as "My house burnt down containing my ID (keys) and I need access to my bank account to rebuild it"