Cryptoqueen

[rick49]

How this woman scammed the world, then vanished

www.bbc.com/news/stories-50435014?utm_source=pocket-newtab

[wetkingcanute]

Yeah I read the whole thing yesterday rick.

Quite incredible.

[mids]

That was a brilliant read. I now almost understand what cryptocurrency is. When's the film out?

[wetkingcanute]

It is morally wrong to allow suckers to keep their money

[mids]

A stark warning from the piece.

"That ticked a box... The power of the woman - well done! I felt proud of her."

Don't do feminism kids- it makes you stupid and you'll lose money.

[Repat Van]

Nov 27, 2019 10:24:03 GMT mids said:

A stark warning from the piece.

"That ticked a box... The power of the woman - well done! I felt proud of her."

Don't do feminism kids- it makes you stupid and you'll lose money.

Ha! It mainly keeps you away from stupid sexist men which is really the only reason you need to be one.

[mids]

Yup, I was right.

[Deleted]

Chechnyans

[unclejunior]

medium.com/hackernoon/wtf-is-the-blockchain-1da89ba19348
Enjoy 😊

[perrykneeham]

Bankrupt, fried.

www.bbc.co.uk/news/business-67281759

It'll be fascinating to see whether he is actually facing "decades in prison" or if, you know, strings are pulled.

[flatandy]

I expect strings to be pulled. He's guilty as anything. Crypto is, of course, idiot bullshit emperor's new clothes nonsense.

Lots of funny anecdotes from the trial. Apparently his parents were in tears as the conviction came through - not because he's guilty (they must have known that) but because their money is at risk from the lawsuits.

Anyway, this is hilarious even if it's not true - they found him guilty incredibly quickly:

[voice]

That's ace

[perrykneeham]

Ah, cryptocurrency: the alpha and the omega.

www.bbc.co.uk/news/business-68560911

Cruptocurrency, more like.

[flatandy]

It's an interesting one, isn't it? Posh fraudsters often dodge bad jail time because it's "non-violent". Generally, I think people who commit non-violent crimes like, say, smoking pot or pick-pocketing or nicking tellies shouldn't face as much jail time as violent crims. Prison mostly doesn't do a great job of reform. Prisons are expensive and overcrowded.

Yet, there has to be punishment, and when you nick billions of quid rather than a couple of hundred quid, the punishment has to be quite a lot higher. But the courts see polite, well dressed, well educated, non-violent crims and give them super-light sentences.

I genuinely don't know the answer.

[flatandy]

I do think it's funny that crypto investors who lost "$2m worth of holdings" when the exchange collapsed think their presence will convince judge and jury to increase the sentence.

Nerdy rich smug entitled libertarian tech-bros have to be one of the least sympathetic groups of "victims of crime" that I can think of.

[perrykneeham]

He's certainly got a very punchable face. Billionaire, but an utter Joey. Couldn't even get a cool nickname - "Sam Bankman-Fried - also known as SBF"

[flatandy]

Yes, but not just him. The bloke in your article who's trying to gather together "victims" of the crypto exchange collapse to persuade the court about how terribly they've suffered by losing their gambling stakes and winnings, losing their tulip bulbs so now they can't sell them to other gullible fools.

[moggyonspeed]

- “A fool and his money are soon parted”
- “Creditors have better memories than debtors”
- “If it looks like a duck, waddles like a duck and quacks like a duck, it’s probably a duck”
- “Investment in knowledge pays the best interest”
- “Never spend money before you have it”
- “Opportunity is missed by most people because it is dressed in overalls and looks like work”
- “Save for a rainy day”
- “Spending is quick; earning is slow”
- “The rich rule over the poor and the borrower is slave to the lender”
- … and of course, good ol‘ “Caveat emptor”

Are people not taught these things any more?

[perrykneeham]

25 years (that'll never happen) and a nice bit of consideration from Judge Kaplan ....

"Judge Lewis Kaplan said he would recommend that Sam Bankman-Fried not be sent to a maximum security prison because he had no reason to believe he posed a threat of violence.

SBF's notoriety, association with vast wealth and being an autistic person would make him “unusually vulnerable” in prison, Judge Kaplan said.

He added that the prison should be as close to the San Francisco Bay Area as possible, to make it easier for family visits."

He's done alright here. I suspect that won't go unnoticed.

[flatandy]

SBF has lots of rich friends, and is the kind of person that lots of very rich people believed in and they don't want to admit they're wrong. He'll be helped out.

I do think it's probably right that he's in a low-security prison. Not so sure they have to work to make him close to home to make things nicer for him.