Viewing profile — downandout

No, they are not. They aren’t actively participating in the transactions, and thus have no reporting requirement. Users are not allowed to structure transactions, as it is illegal …

Technically? Yes. But you run the risk of getting your account closed for this kind of thing.

Sure, I used to use it. I won't explain the strategy, but I have a crypto trading bot that sometimes profits at the expense of other bots. The owners of these bots got so annoyed a…

They aren't the hotbed of money laundering you seem to think they are. I spent a fair amount of time in the gaming business, and I can tell you that this statement is patently fals…

The intent in question is manifested in Tornado Cash's design, which doesn't pass the malfeasance smell test: you can't absolve yourself of illegality by automating the illegality.…

At least under US law, intent is still required. Meaning that while some users of TC may have violated this law, the devs did not, nor did they knowingly aid in it or have any prov…

Yes, but the same intent provisions still apply to the entity that enabled the structuring. Tornado Cash has legitimate use cases - I had one prior to the OFAC issue (hiding the so…

"The chief selling point of Tornado Cash is money laundering, which is in and of itself a crime in both the US and Netherlands." You have a fundamental misunderstanding of US law w…

However, the weather is way better than Vegas, and I'm not just talking about summer. A cold ocean has its advantages. I grew up inland San Diego, and I can tell you that our summe…

"Contrast that with San Diego or New York, where the environment is not actively trying to kill you during most of the year" Las Vegas is inordinately hot only 3 months of the year…

There are countless articles showing that literal monkeys throwing darts at a dart board can pick sticks as well or better than most fund managers. This is not the case with DeFi. …

Millions of micro markets that produce what, exactly? You seem to be asking me to defend the merits of crypto, which is beyond the scope of this conversation. But generally speakin…

You are correct, but all investments have a maximum size at which returns will stop. That said, even large banks are seeing returns considered impossible in traditional markets wit…

No, sadly that return is based on my infrastructure costs, which I can't keep increasing and get the same return. But yes, I'm doing better than 50X my monthly infrastructure costs…

Is your counterparty risk zero? Custody risk? In the case of flash loans/swaps, the answer is yes. It's 0. Further, I never have any capital at risk, all of my bots use flash loans…

I run arb and loan liquidation bots, and have for over a year now. These are atomic transactions almost always using flash swaps/loans that exist only exist for the life of the tra…

Of course there are limits to every opportunity. I make money everyday from opportunities that exist on microsecond timescales. I run arb and loan liquidation bots, so I haven't ha…

And the Crypto Andys were all like "you just don't understand DeFi!" to which the retort is "No, you just don't understand finance". If you believe the statement "if someone is pro…

Yes, but it’s a meritocracy. I don’t control whether or not I look like Brad Pitt. I do control whether or not I am educated enough in this space to carry out a strategy like this.…

The owner of the $8 million was a smart contract, in this case a DEX (decentralized exchange) pair on Pancakeswap. Yes, the contract is designed to do this. I believe the fee on th…

Fair point. I probably should have directed him to: https://www.openzeppelin.com/contracts That’s the closest thing to a collection of standard contracts for protocol builders to u…

They are in the sense that they level the playing field. People wouldn't give me millions of dollars to do arbitrage in real life, but I can borrow $200 million from a smart contra…

The answer is yes, for DEX arbs, since you have to trade in the pools anyway and must pay the resulting fees.