Observations on FTX
Posted by mshupe 2 years, 5 months ago to Philosophy
From the article - "The number of FTX creditors seeking restitution is estimated to be one million and nearly all of them are account holders. While government and media investigators try to sort out the money trails, there are two questions that deserve greater attention: 1) Why do so many people consider cryptocurrency to be an investment? 2) Why does the CEO of FTX appear morally self-satisfied with his behavior? Yet, two primary questions must be answered first: 1) How does one define ‘investment’? 2) How do we define a morally defensible code of conduct? Specifically, what are their attributes?"
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This story will just get bigger.
It would be weird if human trafficking and such
enter into the mix. Behind the Dam of lies is a flood.
The Dutch Boy has all his fingers and feet in the dike ,and yet drip drip drip ….the storm is coming.
Nothing can stop what is coming !
https://www.galtsgulchonline.com/
https://www.galtsgulchonline.com/post...
FTX. Will it be the gift that keeps on giving? (http://worthypolitics.com)
Posted by $ Dobrien 2 days, 4 hours ago to News
16 comments | Edit | Delete
I am elated that in less than a year everybody can see one way that they do it. Proof is truth and that cannot be denied.
just sayin'
i'm not going to trade food, ammo, or weapons for it
get gold and silver
ammo and guns
a piece of paper has no value
ugly little bureaucrats" (from Galt's speech in Atlas Shrugged)
"So long as men, in the era of savagery,
had no concept of objective reality and
believed that physical nature was ruled
by the whim of unknowable demons –
no thought, no science, no production
were possible. Only when men
discovered that nature was a firm,
predictable absolute were they able to
rely on their knowledge, to choose their
course, to plan their future and, slowly,
to rise from the cave. Now you have
placed modern industry, with its
immense complexity of scientific
precision, back into the power of
unknowable demons – the unpredictable
power of the arbitrary whims of hidden,
ugly little bureaucrats. A farmer will not
invest the effort of one summer if he's
unable to calculate his chances of a
harvest. But you expect industrial giants
– who plan in terms of decades, invest in
terms of generations and undertake
ninety-nine-year contracts – to continue
to function and produce, not knowing
what random caprice in the skull of what
random official will descend upon them
at what moment to demolish the whole
of their effort. Drifters and physical
laborers live and plan by the range of a
day. The better the mind, the longer the
range. A man whose vision extends to a
shanty, might continue to build on your
quicksands, to grab a fast profit and run.
A man who envisions skyscrapers, will
not. Nor will he give ten years of
unswerving devotion to the task of
inventing a new product, when he knows
that gangs of entrenched mediocrity are
juggling the laws against him, to tie
him,, restrict him and force him to fail,
but should he fight them and struggle
and succeed, they will seize his rewards
and his invention..."
The whole point of FTX was to make crypto investing the opposite of a "firm, predictable absolute".
it sure made a lot of the wrong people rich
unless people want it
unlike food
water
guns
ammo
https://www.youtube.com/watch?v=OYQMc...
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