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what this bankman didn't have a chief financial officer?
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Dec 1, 2022 00:06
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lol what about governance? [carrier lost]
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Dec 1, 2022 00:06
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lol then when questioned about that the feed goes dead
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Dec 1, 2022 00:06
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no you see the problem with ftx was too much governance
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Dec 1, 2022 00:07
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over a dozen boards, not a single cfo or anyone that can assess risk
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Dec 1, 2022 00:07
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he's jittering like a mad man
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Dec 1, 2022 00:07
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they just didn't have anyone saying "i feel responsible for what happens on ftx" in over a dozen boards
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Dec 1, 2022 00:08
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not in so many words, but sbf is feeling around the edges of the answer "the problem was that we were too decentralised"
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Dec 1, 2022 00:08
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i put everything i had in to ftx, i even took out loans and put it right back in the company
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Dec 1, 2022 00:09
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the closed off posture and stuttering in response to "did you lie?"
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Dec 1, 2022 00:10
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have you lied? well, here's what i think happened... [1/31]
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Dec 1, 2022 00:10
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he's really latching on to the fact they didn't have a risk assessment person lol, all this wouldn't have happened if someone read that book. https://www.youtube.com/watch?v=laKprX-HP94 too bad books over 1 page long are worthless
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Dec 1, 2022 00:11
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those were way harder questions than I expected him to get lol
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Dec 1, 2022 00:13
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"look, we were handling billions of dollars of other people's money and we just didn't have anyone to tell us not to do dumb things with it." isn't the killer defense he thinks it is
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Dec 1, 2022 00:18
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https://twitter.com/CoinDesk/status/1597782264091492353 the quest for an actual use case for blockchain 'technology' (besides speculation and financial crime) continues to grind on
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Dec 1, 2022 00:19
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Boxturret posted:"look, we were handling billions of dollars of other people's money and we just didn't have anyone to tell us not to do dumb things with it." isn't the killer defense he thinks it is that old chapelle joke where his white friend gets pulled over and tells a cop "sorry, officer, I didn't know I couldn't do that" and gets away with it
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Dec 1, 2022 00:24
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FMguru posted:https://twitter.com/CoinDesk/status/1597782264091492353 oh sure, and i'm sure this "IBM" company was tut-tutting the internet in the 80's too 
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Dec 1, 2022 00:53
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"if I wasn't supposed to do it there should have regulations stopping me and there weren't so it must be fine"
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Dec 1, 2022 00:53
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LanceHunter posted:"I don't see what good is accomplished by me just sitting locked in a room pretending the outside world doesn't exist." - A man who's never faced any negative consequences in his entire life, and thus cannot understand why he might need to take action to avoid such consequences. Seriously!!!! It’s literally “I don’t understand why my lawyers would tell me not to do things. When I do things, good things happen to me. Why would they think me doing something would result in something bad happening to me?”
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Dec 1, 2022 01:03
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Ariong posted:Seriously!!!! It’s literally “I don’t understand why my lawyers would tell me not to do things. When I do things, good things happen to me. Why would they think me doing something would result in something bad happening to me?” https://twitter.com/TiffanyFong_/status/1593901973572567045 yes quite literally
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Dec 1, 2022 01:11
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come on, be your own defense in court you coward the judge needs to hear how smol a bean you are
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Dec 1, 2022 01:13
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qirex posted:that old chapelle joke where his white friend gets pulled over and tells a cop "sorry, officer, I didn't know I couldn't do that" and gets away with it "well. now you know. now get outta here" lol that was exactly what i thought of at first too
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Dec 1, 2022 01:17
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Tzarnal posted:And yet I can google for ehterium asic and i'll find advertisements for whole generations of the things, so that worked out Great. SubG posted:lol Shumagorath fucked around with this message at 01:26 on Dec 1, 2022 |
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Dec 1, 2022 01:18
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SubG posted:there's like negative selective pressure for scam competence in crypto. way back all the early guys were veteran con guys running venerable cons more or less by the numbers. lots of mail fraud guys, ponzi poo poo, mortgage refi scams, that kind of thing. but now? who the gently caress has time for the whole approach/build-up/convincer nonsense? just give me a couple billion of those vc dollars gently caress you i'm not going to stop playing lol to take the call and the business model is gently caress you that's the business model.
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Dec 1, 2022 01:23
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well they're definitely scams now as you can't mine eth, they somehow managed to pull the PoS conversion off successfully but there really were asics for the "ethash" algorithm which etherium used. somehow the efficiency difference between them and gpus wasn't super high and gpus stayed competitive, i guess because it uses so much ram that a lot of the cost of asics goes into plain old non-application-specific ram chips so their relative advantage is smaller
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Dec 1, 2022 01:25
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https://twitter.com/ryaneshea/status/1598094603106025472 lmao
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Dec 1, 2022 02:11
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i was just going to post that how was this guy a billionaire lmao
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Dec 1, 2022 02:39
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Very misleading. In reality he's swallowed 3 thousand prawns once in one day and has been slowly digesting the meal since.
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Dec 1, 2022 02:52
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quote:How do you accidentally eat 3000 shrimp?
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Dec 1, 2022 02:58
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not that hard, I hear they’re easy to mistake for small pastries
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Dec 1, 2022 03:01
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it wasn't until the 2998th one that he started to get suspicious
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Dec 1, 2022 03:24
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that's over 9 shrimp a day
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Dec 1, 2022 03:25
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that's a paid blue check Cofounder of NewCo (Coming Soon), @Stacks (DeFi on Bitcoin), @VoterbaseApp (Voting Guide). Eng of bits & atoms. Investor in frontier tech. ryan.btc/ryanshea.eth (and the story doesn't appear on nyt)
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Dec 1, 2022 03:34
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Boxturret posted:that's over 9 shrimp a day lol
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Dec 1, 2022 03:41
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also yeah i looked for it on nyt too, no dice. its fake but funny
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Dec 1, 2022 03:42
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Prawns Sam is an outlier and should not have been counted
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Dec 1, 2022 03:47
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ok but what if it's actually the 9 krill that have been crushed up into his krill oil?
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Dec 1, 2022 03:56
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Tzarnal posted:And yet I can google for ehterium asic and i'll find advertisements for whole generations of the things, so that worked out Great. it seems to be a different matter of scale, with the ethereum asic devices being only 25-50x faster than a single GPU, meaning GPUs were still viable. too lazy to do math but bitcoin asics are like at least 1000s of times faster than a GPU lol that these folks released a $9999 asic miner just two months before ethereum switched to POS though
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Dec 1, 2022 04:05
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Eeyo posted:ok but what if it's actually the 9 krill that have been crushed up into his krill oil? is he a baleen whale? why is he eating krill?
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Dec 1, 2022 04:06
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i hope whatever lawyer's been roped into defending him is getting paid even more obscene quantities of cash than usual, because goddamn. assuming he does currently have a lawyer; we already know at least one dropped him and i can't imagine he's become more attractive as a client since then
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Dec 1, 2022 04:11
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