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Comment by mupuff1234 | Hacker News Reader

Honestly I am surprised we are not seeing violent acts against people running these companies (Celsius, terra, etc).

I would be beyond furious if I couldn't withdraw my assets from this scam.

Because people trying to commit violent acts will go to prison etc. and, assuming they're at least vaguely rational, will realize that (and that it won't actually return their money).

That must be why violent acts never happen. Go figure.

Economists figured this out long ago. Every person is 100% efficient and rational, and this is why we can predict the future.

Rational expectations/efficient market hypothesis is the explanation for why we can't predict the future. Predicting it would mean something isn't "priced in".

https://someunpleasant.substack.com/p/economists-do-they-kno...

Well obviously everything is priced in.

https://i.redd.it/pd0s2ysxnm791.jpg

This is one of the premises behind the United State’s uniquely effective approach to prevent gun violence. Everyone understands the penalty for murder, so no one ever uses a gun for unlawful acts against other humans.

I know you're jesting, but in case someone else misunderstands, even if every person is 100% efficient and rational for real, the market is still chaotic and unpredictable.

Like the weather system, every molecule of air and water behaves "deterministically". And yet, we can predict no more than a few days, may be a few weeks at most, with any real accuracy. This is the hallmark of a chaotic system (aka the error in prediction grows exponentially).

That's why people in higher position can wield violence secretly while avoiding violence from average people.

Laws need to be bad enough violence may feel better.

There is a really disturbing trend nowadays where people are casually advocating for violence. This is one of those examples. Violence is never okay.

Apparently things are pretty tense in South Korea where Terra originated. An increase in suicide-related searches was recorded in Seoul. Authorities have put dozens of Terraform Labs employees on a no-fly list to prevent them from leaving the country.

Sounds like there could be ramifications beyond the usual crypto "aww shucks, the money's gone, what can you do lol".

A lot of people in crypto are mature adults, they understand the risks, and only put in money that they will be OK with losing. That should always be the motto, especially for F grade semi-decentralized retarded projects like Celsius, terra, etc

>Honestly I am surprised we are not seeing violent acts against people running these companies (Celsius, terra, etc).

Let's flip the question: what reasons do you have to expect "violent acts against people running these companies"? Sure, you have a bunch of people that are angry, but makes you think they're angry enough to follow through with the plan? Was there a spree of violence against bankers in 2007/2008?

The biggest reason would be the only increasing levels of social & economic inequality.

My working assumption is that there will be some breaking point or a triggering event where people just had enough.

There's plenty of violent acts driven by various reasons, I guess I am surprised we have yet to see "vigilante" type act against people of power.

People who invest in cryptocurrency are doing just fine. They may have lost a large portion this money, but the fact they even have money to put into crypto means they are able to afford food, rent, etc.

Losing money in cryptocurrency is a first-world problem, no one is going to commit violent acts over losing their side/play money.

a lot of people were fooled into putting money into "stable coins." Then they thought getting returns on it from celsius was risk free. Then they put a majority of their net worth into celsius accounts. they are "fine" by your definition but they may have lost 90-95% of their net worth.

Look into the /r/celsiusnetwork subreddit and see for yourself how many people mortgaged their houses and put their spouse's savings into it.

A lot of people are not fine, they just didn't feel the full ramifications for their actions, yet.

Funny I remember warning people on various reddits many months ago that there is no risk free 10-20% investment and asking where is this yield originating from. Let’s just say people weren’t very receptive. Greed is a hell of a drug

I personally know someone who lost everything to a risky investment / investment scam. Not crypto, the traditional kind. They borrowed money from friends and family, their primary residence is mortgaged, and their net worth is deep into the negative.

That you somehow believe everyone losing money to investment scams is responsibly investing only an appropriate portion of their side/play money tells me you know very little about this space.

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