Sam Bankman-Fried (SBF), the disgraced CEO and co-founder of the dissolved cryptocurrency exchange FTX was sentenced to 25 years in federal prison. As I said, similar to Trump’s hush money trial, relatively few people are personally offended in any visceral way. Rather, everyone wants reassurance that ‘good’ will prevail, like in the movies. The people… Continue reading SBF’s Fraud is an American Success Story
Month: May 2024
Bitcoin’s crash is a reminder of the importance of high barriers to entry
As Bitcoin faceplants, at around $57,000 or so as of publishing this post for a decline of over 25% after peaking in March on what is likely a trajectory to $20,000 or lower, I am reminded of a useful heuristic: “Anything that is hyped or promised as a shortcut to wealth for the masses will… Continue reading Bitcoin’s crash is a reminder of the importance of high barriers to entry