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Binance banned from doing business in UK

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Re: Binance banned from doing business in UK

#171

Post by troymc »

mdoms wrote: post #158
digianarchist wrote: post #154

Earlier quoted context omitted.

There's a new podcast series on Quadriga that I recommend people listen to: Exit Scam https://www.exitscam.show/

There's also a podcast called A Death in Cryptoland about Quadriga, but I don't recommend it. A lot of the evidence they present is so thin it borders on conspiratorial. Maybe it was going somewhere but I gave up after 5 episodes when very little concrete information was presented.

I disagree. I learned a huge amount of information about Quadriga from that podcast (A Death in Cryptoland). It wasn't produced by some random Joe in his basement. It was produced by the CBC, Canada's public broadcaster and a Canadian federal Crown corporation.

When the producers of that podcast weren't sure about something, they said so. When they couldn't get an interview with a key player in the story (such as the wife), they said so.

Re: Binance banned from doing business in UK

#172

Post by zarzavat »

yawaworht1978 wrote: post #11

Yesterday most of Canada, today Uk. Crypto adoption, but I reverse chronological order./s What is the US waiting for? Can't be long now.

Exchanges are commodities, people can just move to another one. Hinderances in the way of shady exchanges can only make the market healthier by pushing funds towards more trustworthy exchanges.

Re: Binance banned from doing business in UK

#173

Post by oraphalous »

fakedang wrote: post #156
xvector wrote: post #149

Earlier quoted context omitted.

It's kind of scary. You go to Reddit and it's full of people dumping their life savings into crypto, genuinely believing it'll bail them out. For some reason people genuinely seem to believe that crypto will only go up, when the reality is that we have no clue. When every average Joe thinks crypto will make them rich, it's time to dump your bags.

I dumped my BTC (2011ish early adopter) once my mom began to talk about a Bitcoin investor who played the crypto markets and made so much money at my age. My mom does not know how to format a Word file. I just hope my parents and relatives aren't secretly stashing away their life long savings in crypto because of all the hullabaloo.

This isn't any more sound as an investment strategy than a dude is hip because they listened to band X before it was cool.

Re: Binance banned from doing business in UK

#174

Post by lnanek2 »

joejerryronnie wrote: post #169
Mengkudulangsat wrote: post #161

Earlier quoted context omitted.

I'm dealing with an American law firm at the moment (Baker McKenzie) that just categorically refuse to deposit BTC into my personal hardware wallet. They require I provide an address tied an account within their "reputable" list of exchanges which ironically includes Binance. Unless we fight back, the crypto space will quickly devolve into a worse version of banking.

Wait, the law firm has agreed to give you/pay you in BTC, but they won’t deposit it into a hardware wallet address you provide them? Why do they even care?

They likely don't implement any BTC support themselves, just have some other company do it that only supports exchanges?

Re: Binance banned from doing business in UK

#175

Post by koolba »

IgorPartola wrote: post #164
hervature wrote: post #162

Earlier quoted context omitted.

I know it is tempting to compare the current price when estimating losses. But really, you cannot do that. I had 2.5M dogecoin that was also stolen. But I don't use the peak valuation (~$1.25M) or the current price (~$0.63M) because that implies I would have singled out the peak or held until now. I really only lost my buy in ~$1,500. It makes for a good story to lose a house, but it is better for your sanity to base…

This. If in 2012 you bought a pizza with 1 BTC and now feel silly, don’t. You also bought pizzas for $20 which you could instead have converted to BTC and held until now had you only had a working crystal ball.

> You also bought pizzas for $20 which you could instead have converted to BTC and held until now had you only had a working crystal ball.

My favorite spin on this is computing the present value of buying AMZN instead of whatever I was ordering from Amazon.

Re: Binance banned from doing business in UK

#176

Post by zepolen »

kgraves wrote: post #120
slipframe wrote: post #104

Earlier quoted context omitted.

Lmao are you serious? Source is 15 years of buying drugs. The illegal drug dealers only took cash, and now that buying drugs is legal, the legal dealers only take cash too. They have an ATM in their shop, but that's because they only take cash. I guess you never buy drugs IRL, if you really want a source for "drug dealers only take cash". What's next, wanting a source for "water is wet"? > Also, did you just forget w…

> Lmao are you serious? Source is 15 years of buying drugs... So the source is you then? If so, that is an anecdote and that isn't a reputable source, try again. > The illegal drug dealers only took cash, and now that buying drugs is legal, the legal dealers only take cash too. They have an ATM in their shop, but that's because they only take cash. So you are saying that cryptocurrencies was never an option for these…

> So the source is you then? If so, that is an anecdote and that isn't a reputable source, try again.

What is your definition of a reputable source then?

You have four different people saying the same thing and still you ask for a 'source'.

Re: Binance banned from doing business in UK

#177

Post by null0pointer »

Closi wrote: post #134
wyldfire wrote: post #84

I've always believed in the strength and independence of Bitcoin and cryptocoins. But maybe there's just so many evil-doers/criminals out there that the novel trust free payment network will crumble under the weight of all of the adjacent scams. I hope not, but I find myself in the truly puzzling position of rooting for the regulators sometimes. I can easily partition bitcoin's good qualities from all of the bad thin…

Unfortunately all this stuff is by design - it shouldn’t be a surprise to anyone that a non-reversible currency that can be handled in a non-traceable way might be used for crime and scams.

I don't really think you can claim that the intent of Bitcoins design is to facilitate crime and scams.

Re: Binance banned from doing business in UK

#178

Post by lupire »

joejerryronnie wrote: post #169
Mengkudulangsat wrote: post #161

Earlier quoted context omitted.

I'm dealing with an American law firm at the moment (Baker McKenzie) that just categorically refuse to deposit BTC into my personal hardware wallet. They require I provide an address tied an account within their "reputable" list of exchanges which ironically includes Binance. Unless we fight back, the crypto space will quickly devolve into a worse version of banking.

Wait, the law firm has agreed to give you/pay you in BTC, but they won’t deposit it into a hardware wallet address you provide them? Why do they even care?

I'm guessing the law firm is facilitating a transfer, like someone trying to buy a house with crypto, or distribute an inheritance.

Re: Binance banned from doing business in UK

#179

Post by [deleted] »

jMyles wrote: post #47
ArkanExplorer wrote: post #44

Its great to see Governments finally acting against Crypto. The technology will float around, but the actual formal legal exchange of fiat for crypto should be banned. This will indirectly disable Ransomware, since businesses will not be able to purchase the coins. And by reducing the price of coins, reduce the waste (electricity, hardware, human effort) associated with 'mining' them.

This perspective is just so alien to me. I don't understand how anyone can casually express such vulgar celebration of the state, knowing the misery that it inflicts on the most vulnerable in society, with money as its chief method of lifelong emotional torment. Moreover, your predictions seem completely bombastic to me. Has there ever been a case where governments banned something and the resulting black market sett…

[deleted]

Re: Binance banned from doing business in UK

#180

Post by rantwasp »

Closi wrote: post #134
wyldfire wrote: post #84

I've always believed in the strength and independence of Bitcoin and cryptocoins. But maybe there's just so many evil-doers/criminals out there that the novel trust free payment network will crumble under the weight of all of the adjacent scams. I hope not, but I find myself in the truly puzzling position of rooting for the regulators sometimes. I can easily partition bitcoin's good qualities from all of the bad thin…

Unfortunately all this stuff is by design - it shouldn’t be a surprise to anyone that a non-reversible currency that can be handled in a non-traceable way might be used for crime and scams.

that’s simply not true. bitcoin and blockchain is as traceable as it gets. it’s all there in the ledger.
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