Hacker News Reader

If you ask to borrow $500 and I give it to you, and you run off with the money with no intent to ever pay me back, did you commit fraud? Or was I just a rube who should have known better?

You seem to wish to live in a zero trust world model where everyone is out to scam everyone at all times and "caveat emptor" if you do get scammed. We should do our best as a society to not turn into that.

View on HN

I'm reading their comment as the opposite - there are mechanisms for a high trust society in place (which is good), but if you go out of your way to opt out of it then you're on your own.

The difference is there is no such thing as "unregulated" in the concept of fraud. Doing fraud is illegal. Even if FTX had done all the paperwork to be compliant, it would still be illegal fraud.

Same as there's no place where murder is allowed. You can't "opt out" of parts of society. It's not even "take it or leave it", society is "take it or get out of our reach"

Caveat emptor. Emptor is “buyer”, caveat “beware”.

Caveat emperor: I’m not worried about being defrauded because my legions will beat up anybody who does so.

Thanks, I got caught by auto-correct. :)

Reply on news.ycombinator.com