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South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

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Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#41

Post by Garvi »

JumpCrisscross wrote: post #24
Garvi wrote: post #22

Earlier quoted context omitted.

I understand the point. But why is that?

> why is that? The web3/crypto community seems to select for individuals with an almost proud ignorance of the law and state power. The same personality that can make a 21st-century gold bug pitch ( e.g. a world on crypto is one without wars, Bitcoin is impossible to ban, or Luna is magically stable et cetera ) is one that reacts to an arrest warrant by no showing and tweeting.

So it's a counter-culture thing like hippies and punks of the past? I thought those all died with moderated social media. Is it at all about "sticking it to the man" or is it purely profit motivated (by the followers of those individuals)? It's most likely a mix of the two, but to what degree.

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#42

Post by lexapro »

rurp wrote: post #35
lexapro wrote: post #33

Earlier quoted context omitted.

You know, it's kinda funny that you mention gold bugs. Because gold shares a lot of properties with Bitcoin, and therefore should be considered a sham by most of HN. Yet somehow it sits currently at $1,670/oz and is owned by all major central banks in the world.

Among other reasons, it's non-trivial to walk off with $10M worth of solid gold owned by someone on another continent.

It's also non-trivial to guess a private key or to run a 51% attack.

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#43

Post by JumpCrisscross »

lexapro wrote: post #33
JumpCrisscross wrote: post #24

Earlier quoted context omitted.

> why is that? The web3/crypto community seems to select for individuals with an almost proud ignorance of the law and state power. The same personality that can make a 21st-century gold bug pitch ( e.g. a world on crypto is one without wars, Bitcoin is impossible to ban, or Luna is magically stable et cetera ) is one that reacts to an arrest warrant by no showing and tweeting.

You know, it's kinda funny that you mention gold bugs. Because gold shares a lot of properties with Bitcoin, and therefore should be considered a sham by most of HN. Yet somehow it sits currently at $1,670/oz and is owned by all major central banks in the world.

> gold shares a lot of properties with Bitcoin, and therefore should be considered a sham by most of HN

Gold and gold buggery are separate. Gold and silver have deep precedence as money. They're also useful commodities. Gold buggery involves retail investors disproportionately allocating to gold as a buy-and-hold asset, often with emotional attachment. Those buying crypto because it's going to free the world or whatever resemble the latter.

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#44

Post by JumpCrisscross »

notch656a wrote: post #38
JumpCrisscross wrote: post #29

Earlier quoted context omitted.

> the problem with that is what? Generally: if you’re trying to fix something, understanding how it works is usually a good start. Specifically: pompous ignorance leads to gross negligence and criminality so stupidly brazen a B-list editor would send it back for being unbelievable. The sort that is rampant in crypto/web3.

>Generally: if you’re trying to fix something, Yes the fix is clear to me. Remove KYC+AML from the banking/monetary system. The expansion of crypto is in part a response to a pompous ignorance of government officials, attempting to impose a search of your papers merely for banking and the government implementing policies so stupid even a B-list editor wouldn't believe it. The government failed so other actors came in…

> Remove KYC+AML from the banking/monetary system

Luna's downfall and Do Kwon's pending red notice have nothing to do with KYC or AML.

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#45

Post by [deleted] »

Garvi wrote: post #41
JumpCrisscross wrote: post #24

Earlier quoted context omitted.

> why is that? The web3/crypto community seems to select for individuals with an almost proud ignorance of the law and state power. The same personality that can make a 21st-century gold bug pitch ( e.g. a world on crypto is one without wars, Bitcoin is impossible to ban, or Luna is magically stable et cetera ) is one that reacts to an arrest warrant by no showing and tweeting.

So it's a counter-culture thing like hippies and punks of the past? I thought those all died with moderated social media. Is it at all about "sticking it to the man" or is it purely profit motivated (by the followers of those individuals)? It's most likely a mix of the two, but to what degree.

[deleted]

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#46

Post by whimsicalism »

somebodythere wrote: post #14
55555 wrote: post #12

Earlier quoted context omitted.

At least a quarter million South Koreans lost money. If he is returned to South Korea, he’s going to prison regardless of whether or not he deserves to. That’s how the world works, IMO.

I am not sure you can be sent to jail simply for creating something that turns out to be a bad investment. (goes to 0) This is true even in the arguably more regulated stock market. That being said it seems like there is more to his story than buggy code.

If enough people are pissed at someone for something, the government will find a way to throw them in jail.

Take Martin Shkreli, for instance. I don't doubt that he was probably guilty of what he was charged with (unrelated to his price hikes of drugs), but I doubt he would have been charged if not for his infamy otherwise. I suspect what he was charged with would also encompass many other business people in the US who are less infamous.

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#47

Post by lexapro »

JumpCrisscross wrote: post #43
lexapro wrote: post #33

Earlier quoted context omitted.

You know, it's kinda funny that you mention gold bugs. Because gold shares a lot of properties with Bitcoin, and therefore should be considered a sham by most of HN. Yet somehow it sits currently at $1,670/oz and is owned by all major central banks in the world.

> gold shares a lot of properties with Bitcoin, and therefore should be considered a sham by most of HN Gold and gold buggery are separate. Gold and silver have deep precedence as money. They're also useful commodities. Gold buggery involves retail investors disproportionately allocating to gold as a buy-and-hold asset, often with emotional attachment. Those buying crypto because it's going to free the world or whate…

Central banks definitely don't own gold because it's such a useful commodity. Are central banks gold bugs?

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#48

Post by m4jor »

eatonphil wrote: post #19

Given South Korea's fairly lenient prison sentences [0] (or maybe I'm just biased up by the very long US sentences) and that South Korea has a history of not extraditing to the US [1], I don't understand why he would risk worse leaving the country and trying to evade South Korean authorities. [0] https://msccsp.org/nasc/downloads/HyungkwanPark_supplemental... [1] https://www.nytimes.com/2020/07/06/world/asia/south-ko…

Because he's 100% guilty.

He left South Korea to go to Singapore but has now fled from there as well. He's on the run.

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#49

Post by eatonphil »

m4jor wrote: post #48
eatonphil wrote: post #19

Given South Korea's fairly lenient prison sentences [0] (or maybe I'm just biased up by the very long US sentences) and that South Korea has a history of not extraditing to the US [1], I don't understand why he would risk worse leaving the country and trying to evade South Korean authorities. [0] https://msccsp.org/nasc/downloads/HyungkwanPark_supplemental... [1] https://www.nytimes.com/2020/07/06/world/asia/south-ko…

Because he's 100% guilty. He left South Korea to go to Singapore but has now fled from there as well. He's on the run.

I'm saying South Korea seems like a relatively safe place to be guilty in/serve prison time.

Re: South Korean prosecutors say Do Kwon 'obviously on the run', asks Interpol help

#50

Post by notch656a »

JumpCrisscross wrote: post #44
notch656a wrote: post #38

Earlier quoted context omitted.

>Generally: if you’re trying to fix something, Yes the fix is clear to me. Remove KYC+AML from the banking/monetary system. The expansion of crypto is in part a response to a pompous ignorance of government officials, attempting to impose a search of your papers merely for banking and the government implementing policies so stupid even a B-list editor wouldn't believe it. The government failed so other actors came in…

> Remove KYC+AML from the banking/monetary system Luna's downfall and Do Kwon's pending red notice have nothing to do with KYC or AML.

>Luna's downfall and Do Kwon's pending red notice have nothing to do with KYC or AML.

I disagree here. The 'killer app' feature of crypto is that it's basically imperfect banking without KYC/AML. Without crypto's popularity it's doubtful Do Kwon and Luna would have gotten such a foothold.

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