Turkey bans use of cryptocurrencies for payments • Hacker News Board

Re: Turkey bans use of cryptocurrencies for payments

#291

Post by viraptor » Sat, Apr 17, 2021, 1:02 AM UTC

argvargc wrote: post #206

viraptor wrote: post #189

Earlier quoted context omitted.

> This is the concept of "transaction finality", and with fiat it is very, very broken. Worked quite well for me when my credit card details were stolen and I could revert $8k of purchases immediately. If my wallet keys are stolen or cracked, I will lose everything with "transaction finality" - that would be a problem which is enabled not solved by crypto.

As we've seen with the development of centralised exchanges, institutional and retail custodial solutions, many of which are backed by various forms of insurance, the fact that the base layer provides for transactional finality (along with many other things), in no way prevents the development of custodial and insurance-backed solutions on top of it. That crypto can do new things, and yet may also facilitate all of t…

With the big difference that you can evaluate transactions on current cards and halt future ones preventing damage. If you lose a wallet key, you lose all of it. The insurance solution for that would be extremely high compared to the current network.

Re: Turkey bans use of cryptocurrencies for payments

#292

Post by dang » Sat, Apr 17, 2021, 1:09 AM UTC

qJ25D3vAzmfp wrote: post #264

Karsteski wrote: post #234

Earlier quoted context omitted.

Hmm... I only agree that two of these should be illegal, which are alcohol sold to minors and tanks as private vehicles. Every other one has many aspects that I don't want a government involved in. But there's a lot to be written about that.

I guess you are American from the US. See, the problem is that you are savages, no offense. Of course smoking in public offices must be restricted by the government, which represent the voters and which in turn are elected to govern the State. The public cannot harm the health of the citizens that it has to protect by mandate. If you wanna smoke and harm yourself (I am a smoker myself) do it on private property, away…

You can't create accounts to pose as separate persons in an argument, and you can't use HN for flamewar like this. Please stop creating accounts to break the site rules with.

https://news.ycombinator.com/newsguidelines.html

Re: Turkey bans use of cryptocurrencies for payments

#293

Post by argvargc » Sat, Apr 17, 2021, 3:21 PM UTC

viraptor wrote: post #291

argvargc wrote: post #206

Earlier quoted context omitted.

As we've seen with the development of centralised exchanges, institutional and retail custodial solutions, many of which are backed by various forms of insurance, the fact that the base layer provides for transactional finality (along with many other things), in no way prevents the development of custodial and insurance-backed solutions on top of it. That crypto can do new things, and yet may also facilitate all of t…

With the big difference that you can evaluate transactions on current cards and halt future ones preventing damage. If you lose a wallet key, you lose all of it. The insurance solution for that would be extremely high compared to the current network.

Sure but it's trivial to split funds across accounts to mitigate that (even dynamically), unlike with cards where getting/activating a new one is a major hassle.

Re: Turkey bans use of cryptocurrencies for payments

#294

Post by viraptor » Sat, Apr 17, 2021, 9:59 PM UTC

argvargc wrote: post #293

viraptor wrote: post #291

Earlier quoted context omitted.

With the big difference that you can evaluate transactions on current cards and halt future ones preventing damage. If you lose a wallet key, you lose all of it. The insurance solution for that would be extremely high compared to the current network.

Sure but it's trivial to split funds across accounts to mitigate that (even dynamically), unlike with cards where getting/activating a new one is a major hassle.

In theory yes. In practice: 1. those keys will be accessible from the same place/machine 2. people won't do it correctly or will ignore the issue. (if developers can't reliably manage PGP keys, general population balancing multiple wallets is just not happening)

Re: Turkey bans use of cryptocurrencies for payments

#295

Post by qJ25D3vAzmfp » Sat, Apr 17, 2021, 10:32 PM UTC

dang wrote: post #292

qJ25D3vAzmfp wrote: post #264

Earlier quoted context omitted.

I guess you are American from the US. See, the problem is that you are savages, no offense. Of course smoking in public offices must be restricted by the government, which represent the voters and which in turn are elected to govern the State. The public cannot harm the health of the citizens that it has to protect by mandate. If you wanna smoke and harm yourself (I am a smoker myself) do it on private property, away…

You can't create accounts to pose as separate persons in an argument, and you can't use HN for flamewar like this. Please stop creating accounts to break the site rules with. https://news.ycombinator.com/newsguidelines.html

can you please explain me what do you mean?

Re: Turkey bans use of cryptocurrencies for payments

#296

Post by africanboy » Sun, Apr 18, 2021, 2:26 PM UTC

dang wrote: post #292

qJ25D3vAzmfp wrote: post #264

Earlier quoted context omitted.

I guess you are American from the US. See, the problem is that you are savages, no offense. Of course smoking in public offices must be restricted by the government, which represent the voters and which in turn are elected to govern the State. The public cannot harm the health of the citizens that it has to protect by mandate. If you wanna smoke and harm yourself (I am a smoker myself) do it on private property, away…

You can't create accounts to pose as separate persons in an argument, and you can't use HN for flamewar like this. Please stop creating accounts to break the site rules with. https://news.ycombinator.com/newsguidelines.html

WTF happened here, my new comments are all flagged as dead, why???

I swear I have nothing to do with anything you are implying, why should I reply with a different account when I could have used this one? and BTW my comment had positive upvotes!

that's not me, why in the hell I am being punished for something I haven't done and had no reason to do????

please reverse your decision, you're making a big mistake here.

I have no idea why you assumed that's me, I haven't used my HN account after that comment and looked at it again only today.

Re: Turkey bans use of cryptocurrencies for payments

#297

Post by dang » Sun, Apr 18, 2021, 7:01 PM UTC

africanboy wrote: post #296

dang wrote: post #292

Earlier quoted context omitted.

You can't create accounts to pose as separate persons in an argument, and you can't use HN for flamewar like this. Please stop creating accounts to break the site rules with. https://news.ycombinator.com/newsguidelines.html

WTF happened here, my new comments are all flagged as dead, why??? I swear I have nothing to do with anything you are implying, why should I reply with a different account when I could have used this one? and BTW my comment had positive upvotes! that's not me, why in the hell I am being punished for something I haven't done and had no reason to do???? please reverse your decision, you're making a big mistake here. I…

Your account appears to be one of a long series of accounts we've previously banned. The holder of these accounts has not only been breaking the site guidelines and getting banned here for years, they've also used multiple accounts in the same threads to appear to be multiple people, which is obviously an abuse in its own right.

Re: Turkey bans use of cryptocurrencies for payments

#298

Post by webinvest » Mon, Apr 19, 2021, 12:19 AM UTC

cryptica wrote: post #244

fisf wrote: post #7

Earlier quoted context omitted.

Basically one of the exact reasons why Crypto should exist.

I was also thinking that this is the perfect excuse for them to dump their fiat monetary system and let their citizens adopt crypto... I'm pretty sure all other countries' fiat monetary systems will also fail soon, Turkey has a unique opportunity to allow their citizens to amass large amounts of crypto ahead of every other country... And yet they choose to pass up on that opportunity due to a fear of the unknown. Ima…

How do you think they will fund their government budget deficits with crypto? Rhetorical question — they can’t!

Re: Turkey bans use of cryptocurrencies for payments

#299

Post by argvargc » Mon, Apr 19, 2021, 7:53 AM UTC

viraptor wrote: post #294

argvargc wrote: post #293

Earlier quoted context omitted.

Sure but it's trivial to split funds across accounts to mitigate that (even dynamically), unlike with cards where getting/activating a new one is a major hassle.

In theory yes. In practice: 1. those keys will be accessible from the same place/machine 2. people won't do it correctly or will ignore the issue. (if developers can't reliably manage PGP keys, general population balancing multiple wallets is just not happening)

Yes, these are concerns, but anything like this will not ultimately be left to consumers to deal with. As part of the process of crypto becoming widely-adopted, this class of problems is in the process of being solved in ways that are transparent to the user, and that will continue. The fact we are still speaking in terms of the base layer at all in terms of many projects, reveals the stage of development we are at.

It's a bit like worrying about how internet users will deal with IP packets that don't arrive, in the context of thinking about about how smooth an experience they're going to have surfing the web. It's not, and won't be, their problem to deal with.

The fact adoption has rushed ahead such that many multi-millions of users are faced with the base layer is analogous to if millions had rushed into using the internet when it was command-line only. Sure, if that had happened, many people would make mistakes and delete their drives or whatever - and this illustrates how wanted and overdue crypto is.

There are tremendous consequences of using this tech at the base layer incorrectly, but it doesn't appear to be dissuading adoption.

Re: Turkey bans use of cryptocurrencies for payments

#300

Post by africanboy » Mon, Apr 19, 2021, 8:24 AM UTC

dang wrote: post #297

africanboy wrote: post #296

Earlier quoted context omitted.

WTF happened here, my new comments are all flagged as dead, why??? I swear I have nothing to do with anything you are implying, why should I reply with a different account when I could have used this one? and BTW my comment had positive upvotes! that's not me, why in the hell I am being punished for something I haven't done and had no reason to do???? please reverse your decision, you're making a big mistake here. I…

Your account appears to be one of a long series of accounts we've previously banned. The holder of these accounts has not only been breaking the site guidelines and getting banned here for years, they've also used multiple accounts in the same threads to appear to be multiple people, which is obviously an abuse in its own right.

> Your account appears to be one of a long series of accounts we've previously banned for years

Is this some kind of joke?

Have I upset the wrong person?

This is my first account here, I've been reading HN for no more than a year now...

> they've also used multiple accounts in the same threads to appear to be multiple people, which is obviously an abuse in its own right

What?

I repeat myself: you're making a big mistake, I don't know how you jumped at those conclusions, but they are wrong.

Why in the hell should I have done that?

My parent comment received another upvote after you banned me.

Where's the proof of what you say?

I had no reason, no motive and there's obviously no gain from doing it.

Are you implying that I am stupid?

Please reconsider.

Or don't, I can live without HN.

You know what's frustrating?

Being the black man that is banned, without proof, by white people with blue eyes.

History repeating...