Crypto firm BlockFi files for bankruptcy as FTX fallout spreads

Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by gumby on Monday November 28, 2022 @12:37PM (#33776604)

> Unbelievable the amount of destruction of value here

Destruction of value or destruction of paper wealth? I'm pretty cynical of the whole crypto* space, mainly because I think the people making any money in it are themselves cynical and predatory.

I suppose that billion dollars of investment was actual cash lost.

* Using the new definition, not cryptography, which is what the term really means and will again soon.

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Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by graeme on Monday November 28, 2022 @12:54PM (#33776909)

Both. If you take 900 reasonably skilled people and direct them towards nonsense for a few years, that is definite value lost to society. It sounds like $1 billion in actual cash was lost this way. And the buildings they were in could have housed useful activity, the computers they bought could have done useful things, etc.

Those people could have been doing useful things. And it sounds like their activities were worse than nonsense, they actually destroyed money they were given.

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Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by drexlspivey on Monday November 28, 2022 @01:30PM (#33777504)

Yes imagine how many more ads these 900 people could crank into your feed if they worked at FB. Truly a lost opportunity to put their skills at work for the greater good.

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Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by ethanbond on Monday November 28, 2022 @02:24PM (#33778278)

Because these are the only two options that exist for software-capable people. Come on.

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Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by graeme on Monday November 28, 2022 @01:18PM (#33777287)

^Haga, if you can see this, your comment below mine is dead. Went through your history, doesn't look like you've said anything astonishingly objectionable recently. Your comments are all dead

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Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by shagie on Monday November 28, 2022 @01:50PM (#33777786)

If you think they're good comments, click directly onto them and [vouch] for them.

https://news.ycombinator.com/item?id=11589410

(edit) going back... a there appears to be a period of fairly consistent one liner hot takes that may have been received poorly.

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Re:Crypto firm BlockFi files for bankruptcy as FTX fallout s... by graeme on Monday November 28, 2022 @06:58PM (#33781687)

Yeah, noticed that. Figured that warranted downvotes more than being dead, though it is a tough call as the site could become reddit with too much of that

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