"Just because the defendant was more subtle than a mobster doesn't mean it's OK."
I hope Caroline is watching all this closely and singing like a bird. SBF is an idiot. Amazing how he was once feted as some sort of genius.
So what I am getting from all this is the only way to profit from this field is to steal.
You say "Mashinsky has to pay for his own ankle monitor" but I hear "early investor in promising GPS-enabled monitoring software that's bringing wearable tech to the masses." Bullish!
I know schadenfreude isn't healthy but man....smiled to myself and sipped some wine when I read the news.
Also while coinbase is obviously being ridiculous and criminal, historically the dividing line between money and simple collectibles is a bit fuzzy. Gold and silver always straddled the line in Europe, and in West Africa, cowrie shells were used in a way that's a lot more like currency even though Europeans stigmatised it as 'just primitive barter' to think of themselves as more civilised. There's a great book about it called 'A Fistful of Shells', an economic history of West Africa that I couldn't recommend more highly.
My local paper’s trivia quiz recently asked what Melcryptovestimentaphiliac is. I was sure it was someone who loves making bad investments in crypto. Turns out to be quite different, but equally likely to get you in trouble!
Another absolute banger from Molly
Great commentary as always, thank you for so comprehensively documenting the myriad (often bizarre) events in Crypto world.
The link for the Scientific American. “AI Causes Real Harm. Let’s Focus on That over the End-of-Humanity Hype” doesn’t appear to be working.
Great article as always, really appreciate the work you put into these!
The trouble with the Beanie Babies, baseball cards, etc. argument is that these things are tangible and the entire crypto world is electronic bleeps and bloops. Cryptos use the names of tangible things metaphorically (e.g., "coin," "wallet," etc.), but they are still bleeps and bloops. In the pre-internet age there were tangible things called stock certificates, but they represented an intangible thing -- partial ownership of an intangible thing called a corporation. In sum, if you can't pick it up with your tangible hand and chuck it into a tangible trash receptacle it is not a collectible.
Now I read that several US media regard the decision as a violation of press freedom (sigh). First of all the NYT or any other media were not on trial here. Nobody said the NYT violated the law, but I find their conduct morally objectionable to act as an amplifier for the schemes of SBF to intimidate a witness.