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Comment by rhaway84773 | Hacker News Reader

At this point isn’t the actual concern that HN isn’t leaping to conclusions soon enough?

People were defending FTX after the acquisition announcement was made here and a whole bunch of people were calling foul on the article linked the day before which said that FTX was insolvent.

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Everyone knew FTX was lending and borrowing, they didn't know the extent or how much they relied on shoddy collateral to be credit worthy, they didn't know they were using customer funds as well.

Is Crypto.com a lender? That's not what this discussion is about, that's not what Proof of Reserves are about. The folly comes from using collateral, not having assets at all.

reading through these threads is something between listening to MLM addicts and people into the likes of say Joel Osteen. It's so bizarre on this site lately.

I blame a growing contingent of redditors joining HN as r/programming is becoming spammy nonsense. I’m one of them but I keep my mouth shut and rarely comment. I predict that HN will also start to rot as this trend continues. And we’re maybe going to end up right where we started: subscribing to our favourite news outlets.

HN is one of the worst place on the internet but it pretends the opposite and watching the insanity here is addictive, I have to admit I cant help yelling at them when they say really stupid and/or antisocial things.

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