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Just-In-Timeberlake posted:
they should have had the old warez site splash page with the button confirming that you are not a cop before viewing the site
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Jun 2, 2015 15:43
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are using your site I don't know what is
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FMguru posted:also $20k is a pretty light penalty compared to the scope of the outright fraud they were running i'm guessing there total cluelessness helped them here. not setting up anything to operate under to avoid personal liability was really stupid but probably saved them.
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Jun 2, 2015 15:49
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Erenthal posted:they should have had the old warez site splash page with the button confirming that you are not a cop before viewing the site it's 4th amendment violation if you lie about not being a cop here --something bitcoiners and weedbertarians believe
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Jun 2, 2015 15:50
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https://www.youtube.com/watch?v=kf3_MBaarnQ
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Jun 2, 2015 15:51
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Jun 2, 2015 15:56
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FMguru posted:also $20k is a pretty light penalty compared to the scope of the outright fraud they were running yeah, I can only imagine that it's a combination of "how much could we get honestly get", "who wants to spend months making a case for something stronger against these idiots", and "the only people harmed are HN-huffing armchair VCs".
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Jun 2, 2015 15:56
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what did i just watch? and what is corona.info? its showing a cloudflare error
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Jun 2, 2015 15:58
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known poop-toucher neal stephenson's new book, whose plot is based around the earth being destroyed and the need to send the best and brightest into a ~decentralized free market cloud ark~ built around the ISS, has a character that is sent up to the ISS along with all the astrophysicists, space pilots, geneticists, robotics experts, etc. he is/was head corporate counsel for a silicon valley bitcoin startup, and is responsible for making the new constitution of the post-Earth human race.  its also the most fictional thing in this book, since no bitcoin company actually has lawyers working for it
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Jun 2, 2015 16:00
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who's the guy that came from the dog butt in that video?
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Jun 2, 2015 16:02
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Tipps posted:its also the most fictional thing in this book, since no bitcoin company actually has lawyers working for it I bet bfl does at this point
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Jun 2, 2015 16:03
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And here I was thinking the Snow Crash world was a through-and-through dystopia suffering from a post-Reagan globalization that shattered the world. He probably put it together thinking stuff like the FOQNEs were a totes awesome innovation because if there's one thing I find cool it's needing a loving passport to drive through a neighborhood.
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Jun 2, 2015 16:04
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FAUXTON posted:And here I was thinking the Snow Crash world was a through-and-through dystopia suffering from a post-Reagan globalization that shattered the world. He probably put it together thinking stuff like the FOQNEs were a totes awesome innovation because if there's one thing I find cool it's needing a loving passport to drive through a neighborhood. well yeah it's a lot easier to deny access to blacks that way, seems like a pretty obvious advantage if you're a libertarian
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Jun 2, 2015 16:09
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this is insanequote:In total, these users have spent 64 hours, 6 minutes, 26 seconds (and counting!) engaging with our site between March 10 and May 14. Over 96 hours if you include time on the blog and the founder’s personal website. This is more time than our team spent building the drat web page. We have clearly achieved product-market fit with this demographic.
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Jun 2, 2015 16:12
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ruby idiot railed posted:We made a betting site. ahahahahahhahahahahahhahahahahahahahahahahahhaha ha
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Jun 2, 2015 16:12
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unpacked robinhood posted:this is insane this is like saying how successful osama bin laden was at bringing american tourist dollars to afghanistan tens of thousands of visitors who stayed for months at a time!
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Jun 2, 2015 16:14
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i probably shouldn't get so upset at the "we're hackers, we break rules, so we shouldnt have consequences" line of thought but its absolutely infuriating for me. also the whole "we found one weird trick to bypass the law, the SEC hates it!" thing. the sense of entitlement and fart-huffing attitude of software entrepreneurs is terrible Predictably, at least a few Hacker News posters are going on about how terrible it all is: https://news.ycombinator.com/item?id=9642186 quote:The SEC should have said "Very clever, kids, but, ah, no. Knock it off." A fine here is ridiculous -- the participation was capped at $250, this clearly wasn't intended to take in serious amounts of money. The SEC can't let something like this go on, but it can be less hamfisted in its handling. quote:Because we should all talk to lawyers before we do anything. quote:
quote:It's a shame. How much did the SEC spend chasing an unfunded startup? luckily plenty of others are calling them out on their stupid rear end reasoning. ryde fucked around with this message at 16:23 on Jun 2, 2015 |
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Jun 2, 2015 16:14
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at least they are finally warming up to the idea of dorian satoshi nakamoto being 'their man'
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Jun 2, 2015 16:17
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quote:How about a craiglist with drugs? like localbitcoins for drugs
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Jun 2, 2015 16:17
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Alan Smithee posted:like localbitcoins for child prostitutes
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Jun 2, 2015 16:19
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Alan Smithee posted:like localbitcoins for drugs he took my money and stabbed me. never got the drugs. one star
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Jun 2, 2015 16:21
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haveblue posted:he took my money and stabbed me. never got the drugs. one star i stabbed him and got to keep the money and the drugs. five stars
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Jun 2, 2015 16:22
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univbee posted:i stabbed him and got to keep the money and the drugs. five stars harm reduction because six feet under he can't stab anyone else.
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Jun 2, 2015 16:27
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univbee posted:i stabbed him and got to keep the money and the drugs. five stars isn't this basically venmo
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Jun 2, 2015 16:28
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maybe I'm part of the problem, but tbh if someone said "let's create a prediction market/betting site for all these random startups" my thoughts would go to gambling laws, but not securities ones. I mean, I understand and agree once it's been explained, but I can also imagine myself having that blind spot.
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Jun 2, 2015 16:33
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pretty sure they were in violation of gambling laws, too
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Jun 2, 2015 16:35
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Aleksei Vasiliev posted:they also deleted How to Analyze User Engagement: Sand Hill Exchange Case Study and the announcement of their fine Poe's Law as gently caress
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Jun 2, 2015 16:36
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Aleksei Vasiliev posted:pretty sure they were in violation of gambling laws, too yeah, I don't know much about them -- was the house taking a cut?
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Jun 2, 2015 16:38
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e: wrong thread!!
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Jun 2, 2015 16:39
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Subjunctive posted:maybe I'm part of the problem, but tbh if someone said "let's create a prediction market/betting site for all these random startups" my thoughts would go to gambling laws, but not securities ones. I mean, I understand and agree once it's been explained, but I can also imagine myself having that blind spot. thats where my mind would go too. and then Id think "i need to research this because dont want to gently caress with gambling laws" and probably talk to a lawyer, who would hopefully clue me in. its not reasonable to expect everyone to know everything about the law, but there should have been enough of a red flag that you should know you need to talk to an expert.
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Jun 2, 2015 16:42
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idk the financial data part of it is what immediately sets off my alarms and that's deffo sec
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Jun 2, 2015 16:54
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ryde posted:thats where my mind would go too. and then Id think "i need to research this because dont want to gently caress with gambling laws" and probably talk to a lawyer, who would hopefully clue me in. its not reasonable to expect everyone to know everything about the law, but there should have been enough of a red flag that you should know you need to talk to an expert. the out of date constitutional law book i found in the dumpster behind taco bell says nothing about this, so we must be in the clear.
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Jun 2, 2015 17:00
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fuctifino posted:bitcoins: I spent most of the month in the bathroom crying Feh, I've been doing that with fiat for years 
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Jun 2, 2015 17:02
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i was sympathetic to them until i realized i missed the part where they said they were using real money i thought it was just some sort of a simulation or game. nope, they really were that dense
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Jun 2, 2015 17:02
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ponzicar posted:i was sympathetic to them until i realized i missed the part where they said they were using real money real money, fake profiles of real companies, trading bots. and it never occurred to them that any of this might be frowned upon
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Jun 2, 2015 17:03
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i still dont understand their business plan they were going to decentralize an already existing thing (stock market simulators) based on numbers from a central authority so that people could pay them money to gamble on stock performance?
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Jun 2, 2015 17:08
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cumshitter posted:i still dont understand their business plan
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Jun 2, 2015 17:14
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Subjunctive posted:I bet bfl does at this point also Boxturret posted:who's the guy that came from the dog butt in that video?
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Jun 2, 2015 17:20
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CampingCarl posted:With all the craziness from Ross I had forgotten about BFL. Don't they have a trial coming up? next year i think now
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Jun 2, 2015 17:28
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EL BROMANCE posted:next year i think now they cant even ship a trial on time
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Jun 2, 2015 17:31
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quote:Another thing I learned: If you’re gonna try to make yourself look like a legitimate financial institution, you’ll be prosecuted like a legitimate financial institution. Heresiarch posted:the cargo cultists built their planes and runways out of straw and now they're getting strafed
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