<< Are we supposed to be sorry for the wealth advisers after their wealthy clients loose their money into crypto investments?
That is not the point at all. The point is punishment, especially in a public case like this one, because it is important for society at large to see fraud is punished ( and right now looks a lot closer to Madoff scam type than not ). If the society at large does not see it, it may start questioning the validity of the system and simply decide to throw the table over. This is not a good thing ( unless for one reason or another a person wants to topple a given society ).
With that mind, public ostracism should be on everyone's mind. Fuck, we don't have a problem with a guy spouting perceived wrongthink ( edit: I do, but thats another story ) being banned from a conference, but the moment guy manages to effectively make people part with millions of dollars, he is a speaker?
<< What value do you generate pouring money into bitcoin minning or fliping "worthless" coins ?
The same question can be asked about HFT, mass purchase of real estate to artificially raise prices or hoarding aluminum for the same reason. I personally think you are asking the wrong question here.
<< If you are wealthy and you invest into crypto you deserve to loose it all!
I have no real skin in this game despite having some exposure to crypto. I find this attitude counter-productive.
That is not the point at all. The point is punishment, especially in a public case like this one, because it is important for society at large to see fraud is punished ( and right now looks a lot closer to Madoff scam type than not ). If the society at large does not see it, it may start questioning the validity of the system and simply decide to throw the table over. This is not a good thing ( unless for one reason or another a person wants to topple a given society ).
With that mind, public ostracism should be on everyone's mind. Fuck, we don't have a problem with a guy spouting perceived wrongthink ( edit: I do, but thats another story ) being banned from a conference, but the moment guy manages to effectively make people part with millions of dollars, he is a speaker?
<< What value do you generate pouring money into bitcoin minning or fliping "worthless" coins ?
The same question can be asked about HFT, mass purchase of real estate to artificially raise prices or hoarding aluminum for the same reason. I personally think you are asking the wrong question here.
<< If you are wealthy and you invest into crypto you deserve to loose it all!
I have no real skin in this game despite having some exposure to crypto. I find this attitude counter-productive.
edit: first sentence; it didnt' make point clear