[hnfong]

The GP does have a point though.

According to some, supposedly cryptocurrencies was the solution to get around financial and banking regulations, and the only truth was written on the blockchain ledger. "Smart" contracts will make traditional contracts based on the legal system obsolete. At least for those cases, it can be argued that those people waived their rights to recovering economic loss via the legal system by using cryptocurrencies.

That said, I don't buy it. But maybe a desperate lawyer could try to argue that...

[whyoh]

>The GP does have a point though.

No. What happened at the company FTX has nothing to do with blockchain and smart contracts. It could have been an online exchange for euros or dollars or Pokemon cards. Violating the ToS and stealing users' funds is a crime.

[birracerveza]

There's plenty of people in here who think that the investors "deserved it" because they traded cryptocurrency. They have such a hatred for it that they would be glad to let these criminals get off scot-free, just to spite those who invested in crypto and lost it in a scam. There's no discussion to be had there. It should be obvious that FTX operated as a traditional centralized financial institution that happened to trade primarily crypto and therefore should have been subject to regulations, but no. Crypto bad, therefore props to the scammers.

Insanity.