We must be very clear: fraud in the service of effective altruism is unacceptableView in threadalice cristina3y1112These aren’t as extreme as they seem. They are genuinely just the way crypto functions. Here is a link to SBF, this past April, explaining how one of the largest “income” generating systems in crypto (that he also engaged heavily in, and in a way helped to popularize) is a ponzy scheme, and being totally unworried about stating this fact. https://www.bloomberg.com/news/articles/2022-04-25/sam-bankman-fried-described-yield-farming-and-left-matt-levine-stunned Reply
These aren’t as extreme as they seem. They are genuinely just the way crypto functions. Here is a link to SBF, this past April, explaining how one of the largest “income” generating systems in crypto (that he also engaged heavily in, and in a way helped to popularize) is a ponzy scheme, and being totally unworried about stating this fact. https://www.bloomberg.com/news/articles/2022-04-25/sam-bankman-fried-described-yield-farming-and-left-matt-levine-stunned