5 ms·

Does the way SBF's case is being handled increase or decrease your confidence in the mainstream media? How about public institutions?

lampshades 4y ago
It re-enforces what I already believed about the mainstream media and public institutions: that they are corrupt beyond all measure and you can’t believe or trust them in any way, shape, or form.
- MrMan 4y ago
  you people are really frightening
  - lampshades 4y ago
    If you’re frightened now, you are going to have a lot of trouble with the world to come.
  - westmeal 4y ago
    What do you mean by you people? Have you seen american media now?
vr46 4y ago
Neither, this mess is going to take time to figure out, especially in the hopelessly-regulated world of cryptocurrency finance. It's a hard mess to unpick and understand, HN-ites are struggling with it too. Spam Fried should really be keeping his mouth shut, but he can't help himself with his "I know best" attitude. He's the best gift a prosecutor can have, let him carry on until he's in jail.
- SQueeeeeL 4y ago
  HN-esque sites aren't "struggling", in pretty much every comments section there is someone pointing out the complete horseshit crypto is and the fundamental lack of stability in the market. The only reason we see other comments is because the uninformed or those with a stake in the market astroturf every comment section with noise, but the truth has always been present here and unresolvable without appealing towards idealism and emotion
  - notch656a 4y ago
    Buying and selling horseshit, generally, is not a crime. Taking a deposit for the purchase of overpriced horse-shit, and then instead betting on the value of another pile of horse shit, while telling depositors you won't do that is the most immediate crime I foresee SBF having to answer to.
  - vr46 4y ago
    Fair comment, I just can't believe how many other tech people I know have been "investing" in this. Although, "greed ain't going anywhere" observed Joe Strummer.
- prirun 4y ago
  I think he's running his mouth to pretend "I was clueless and it was all just a mistake", ie, incompetence vs fraud. "See! I'm so dumb and clueless I keep shooting my mouth off when I shouldn't be saying anything! I'm a dumbass!" I think he'll have a hard time convincing anyone of that considering his BS in Physics, minor in Math from MIT and working 4 years at Jane Street as a International ETF trader.
mc32 4y ago
What surprises me is the kid-gloves treatment he's getting instead of the Bernie Madoff or Enron executives. Contrast and Compare with how they treated ~45k "insider trading" they could not even prove with Martha Steward. FBI got all mad and aggro about 45k "lying". But this guy and billions and we hear crickets... See how they treated Aaron Swartz
- SQueeeeeL 4y ago
  Martha Steward wasn't part of the financial inside circle. No one's nephew was going to lose an internship at Goldman Sachs because of her prosecution, so she was able to be the sacrificial lamb so the public maintained confidence in the existing financial system. But, in general the regulatory facility is so deeply coupled to those that they seek to keep in check to essentially be toothless.

lampshades 4y ago

It re-enforces what I already believed about the mainstream media and public institutions: that they are corrupt beyond all measure and you can’t believe or trust them in any way, shape, or form.

MrMan 4y ago
you people are really frightening
- lampshades 4y ago
  If you’re frightened now, you are going to have a lot of trouble with the world to come.
- westmeal 4y ago
  What do you mean by you people? Have you seen american media now?

vr46 4y ago

Neither, this mess is going to take time to figure out, especially in the hopelessly-regulated world of cryptocurrency finance. It's a hard mess to unpick and understand, HN-ites are struggling with it too. Spam Fried should really be keeping his mouth shut, but he can't help himself with his "I know best" attitude. He's the best gift a prosecutor can have, let him carry on until he's in jail.

SQueeeeeL 4y ago
HN-esque sites aren't "struggling", in pretty much every comments section there is someone pointing out the complete horseshit crypto is and the fundamental lack of stability in the market. The only reason we see other comments is because the uninformed or those with a stake in the market astroturf every comment section with noise, but the truth has always been present here and unresolvable without appealing towards idealism and emotion
- notch656a 4y ago
  Buying and selling horseshit, generally, is not a crime. Taking a deposit for the purchase of overpriced horse-shit, and then instead betting on the value of another pile of horse shit, while telling depositors you won't do that is the most immediate crime I foresee SBF having to answer to.
- vr46 4y ago
  Fair comment, I just can't believe how many other tech people I know have been "investing" in this. Although, "greed ain't going anywhere" observed Joe Strummer.
prirun 4y ago
I think he's running his mouth to pretend "I was clueless and it was all just a mistake", ie, incompetence vs fraud. "See! I'm so dumb and clueless I keep shooting my mouth off when I shouldn't be saying anything! I'm a dumbass!" I think he'll have a hard time convincing anyone of that considering his BS in Physics, minor in Math from MIT and working 4 years at Jane Street as a International ETF trader.

mc32 4y ago

What surprises me is the kid-gloves treatment he's getting instead of the Bernie Madoff or Enron executives. Contrast and Compare with how they treated ~45k "insider trading" they could not even prove with Martha Steward. FBI got all mad and aggro about 45k "lying". But this guy and billions and we hear crickets... See how they treated Aaron Swartz

SQueeeeeL 4y ago
Martha Steward wasn't part of the financial inside circle. No one's nephew was going to lose an internship at Goldman Sachs because of her prosecution, so she was able to be the sacrificial lamb so the public maintained confidence in the existing financial system. But, in general the regulatory facility is so deeply coupled to those that they seek to keep in check to essentially be toothless.