Re:Do Kwon in more trouble
by chrisco255 on Saturday June 11, 2022 @05:00AM
(#31703025)
Fraud is criminal activity, I'm not talking about that. Corporate shield does not protect you from criminal law. Do Kwon probably should do jail time. The comment I was referring to had to do with a civil lawsuit.
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Re:Do Kwon in more trouble
by literallycancer on Saturday June 11, 2022 @01:59PM
(#31706544)
Luna/Terra worked as intended. It's not his fault people didn't read the white paper.
That's really not how it works.
Re:Do Kwon in more trouble
by ForHackernews on Saturday June 11, 2022 @12:49PM
(#31705916)
> Do Kwon probably should do jail time.
Why? These ~~marks~~ investors wanted free unregulated finance on the blockchain, and they got it. Where's the crime?
Investors also wanted to invest in a ponzi with madoff - does that make it ok?
Re:Do Kwon in more trouble
by ForHackernews on Saturday June 11, 2022 @02:58PM
(#31707140)
I don't think they knew they were putting money in a Ponzi scheme. They thought the gains were coming from real investments.
People who spent money on Terra/Luna knew it was a cryptocurrency that used magic computer maths to make numbers get bigger (until number got small), same as all the other cryptocurrencies.
That's a ponzi too, and no, your ordinary American only looked at the large yield and said oh, i should get in on that, even though, it was some sort of ponzi with funny dynamics.
So no, it's still a ponzi, and no, most people had no idea.