I try to be really conservative with the "but ultimately the consumer has to bear some responsibility" because it's essentially always true: harms that were truly mitigable or unpredictable are quite rare.
No matter how careful and smart and conservative a person is-- sometimes they're just having a blonde moment and will fall for whatever. I agree that people do need to be responsible and avoid traps but I think their responsibility in no way diminishes the perps responsibility.
Putting responsibility on the victims is also complicated by the victim pools being heterogeneous. I have a lot less sympathy for some pre-mine recipient who deposited $10 million dollars of eth on FTX to get the 5% "yield" (and probably should have recognized that the yield was a ponzi red flag) and gamble a bit on ICO tokens with 20x leverage than I do for Joe-Sixpack who saw the superbowl commercials and decided to finally buy a half Bitcoin. The first was careless with their funds, greedily ignoring red flags... the second just made the mistake of being lulled into a false sense of security-- most things with a superbowl ad are okay (or at least Joe Sixpack will soon hear about their problems if they're not).
>No matter how careful and smart and conservative a person is-- sometimes they're just having a blonde moment and will fall for whatever. I agree that people do need to be responsible and avoid traps but I think their responsibility in no way diminishes the perps responsibility.
You're way more forgiving than I am, G.
I have seen and have reluctantly been in charge of people's financial affairs and the only sure way for them to have any level of operational security is when something is at stake and they subsequently lose some of it to learn why to do so--it is well understood that our human minds are hard-wired for risk aversion and optimized for limiting losses, so it makes sense that is why people an be so careless wen this is done for them in 90% of situations.
With that said, I agree greater efforts should be made for securely storing and handling funds, I just fail to see how more regulation (FTX was regulated and licensed) will achieve this. Rather I prefer to see a technological solution to key storage, but tat doesn't solve the ability to see a yield farm operation for the scam that it is.
No matter how careful and smart and conservative a person is-- sometimes they're just having a blonde moment and will fall for whatever. I agree that people do need to be responsible and avoid traps but I think their responsibility in no way diminishes the perps responsibility.
Putting responsibility on the victims is also complicated by the victim pools being heterogeneous. I have a lot less sympathy for some pre-mine recipient who deposited $10 million dollars of eth on FTX to get the 5% "yield" (and probably should have recognized that the yield was a ponzi red flag) and gamble a bit on ICO tokens with 20x leverage than I do for Joe-Sixpack who saw the superbowl commercials and decided to finally buy a half Bitcoin. The first was careless with their funds, greedily ignoring red flags... the second just made the mistake of being lulled into a false sense of security-- most things with a superbowl ad are okay (or at least Joe Sixpack will soon hear about their problems if they're not).