Re:SEC Charges Hex Founder Richard Heart with Misappropriati...
by dboreham on Monday July 31, 2023 @12:10PM
(#36944788)
To be fair the same thing happens in the regular world. e.g. look at a list of the richest people in the USA and see how they made their money.
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Re:SEC Charges Hex Founder Richard Heart with Misappropriati...
by hn_throwaway_99 on Monday July 31, 2023 @12:21PM
(#36944961)
All of the 10 richest people in the US, with the exception of Warren Buffett (and even that I wouldn't really call an exception, more on that below), built real businesses with real products that are used by millions of people and companies. I think wealth inequality is a major problem of our time but I despise this painting everything with a (factually incorrect) bad brush.
Re: Buffett is the only "pure investor" in the top 10, but even then Berkshire Hathaway is pretty famous for having a portfolio of some of the best managed companies in the business. It's not like Buffet is a day trader.
Re:SEC Charges Hex Founder Richard Heart with Misappropriati...
by mikeyouse on Monday July 31, 2023 @12:14PM
(#36944840)
Elon, Bezos, Bill Gates, Ellison, Buffet, Paige, Brin, Ballmer, Bloomberg, Walton --- which of those billion/trillion dollar companies do you think in any way compares to the shambolic crypto world?
Re:SEC Charges Hex Founder Richard Heart with Misappropriati...
by fnimick on Monday July 31, 2023 @12:53PM
(#36945445)
I mean, we joke that Oracle is a legal company with an engineering department... but at least they build things.
Re:SEC Charges Hex Founder Richard Heart with Misappropriati...
by mikeyouse on Monday July 31, 2023 @01:03PM
(#36945609)
Right. I don't like most of the people on that list and e.g. Oracle is a mess of a company that is actively hostile to the software world -- but they still sold $42 billion worth of goods/services to willing customers last year. Nothing at all like crypto trading.
Re:SEC Charges Hex Founder Richard Heart with Misappropriati...
by mgraczyk on Monday July 31, 2023 @12:14PM
(#36944849)
The 20 richest people in the USA all make their wealth via profitable companies that have returned value to shareholders.
Re:SEC Charges Hex Founder Richard Heart with Misappropriati...
by confoundcofound on Monday July 31, 2023 @12:15PM
(#36944855)
My problem is with the collective gaslighting the crypto industry is doing with respects to utility vs speculation. I never thought I would find myself on the side of the SEC, but I have enough experience in the space with investors to builders to confidently say the vast majority of the industry is about speculative gain. Specious claims of utility are often just a means to that end.