Earlier quoted context omitted.
Her delivery reminds me of a CEO being forced by their HR department to "do a rap" in the 2000's to "relate" to their employees.
How about the 2010s! A VC firm had a tradition of making all their portfolio companies participate in an annual rap and dance. I think I had to participate in an Gangnam style rendition. Probably not that hard to find, with that information.
Feds arrest couple, seize $3.6B in hacked Bitcoin funds
861–870 of 901 posts
Re: Feds arrest couple, seize $3.6B in hacked Bitcoin funds
#862Earlier quoted context omitted.
A good guess is that "laundering" billions of dollars is inherently a non-trivial problem, and perhaps not feasible at all without cooperation from shady real-world actors outside the whole cryptocurrency ecosystem. This is actually good news for small-scale users who just want to keep their microtransactions reasonably private - the usual mechanisms might actually work well enough for that case.
with that amount one would be wise to get in touch with HSBC, they provide laundering services (but don't market it to the general public)
The true professionals in this industry only use crypto as a reference in their private ledger stored far far out of reach to any Western government.
It's funny that these successful professionals are also the most paranoid and least trusting of crypto (they are convinced Bitcoin was created by the US Government itself).
Re: Feds arrest couple, seize $3.6B in hacked Bitcoin funds
#863Earlier quoted context omitted.
It might take time, but the fact that the government can't print free bitcoins as it does with fiat to pay off its usurious debt and devalue everyone's hard work is a compelling basis.
But won't you just hoard all of your earnings if it isn't inflated away by 2+% every year? I've been told spending would grind to a halt. Also without holding your wealth in cash in a bank, how would banks use your money as a reserve for lending out to their favored clients?
On a side note, Islam requires a 2.5% Zakat from money hoarded in your account, to be donated to charity, so there's your solution against hoarding :) We don't need the government to fake print money to prevent people from hoarding. Better that money go into charity to truly have a more equitable society, as opposed to the fake and useless proposals we keep seeing and pitting parties against each other.
Re: Feds arrest couple, seize $3.6B in hacked Bitcoin funds
#864Earlier quoted context omitted.
But won't you just hoard all of your earnings if it isn't inflated away by 2+% every year? I've been told spending would grind to a halt. Also without holding your wealth in cash in a bank, how would banks use your money as a reserve for lending out to their favored clients?
Not necessarily. Secondly, banks and money lending are immoral and predatory. Usury is prohibited in the three major religions (Islam, Judaism, and Christianity), so we're better off without this dangerous practice. It goes hand in hand with fiat money by the way, the government is taking loans from the Fed, which is why it keeps needing to print more and more money to fuel it. The sooner we get rid of money lending…
Since inflation is a centralized operation and Zakat is decentralized, I would wage enforcement of inflation is much easier than enforcement of Zakat.
Re: Feds arrest couple, seize $3.6B in hacked Bitcoin funds
#865Earlier quoted context omitted.
okay I finished reading it, it is pretty damning and the report does say that it is just one agent investigating certain specific criminal charges that "doesn't reflect all of the investigations of the government" Ilya had trouble figuring out how to launder it Still the outstanding question is whether he is the only one with the encrypted files, or if he was a service provider. not that its a real question to me, it…
There is certainly the potential for an argument that they didn't do the hack, that someone else was more involved, that they were small players in this, etc. but it's highly likely they were involved in some way.
inspirational in the direction of ideas on this case, and I know people that would trade a private key directly.
would help explain the amateurish laundering.
could be an interesting defense. could explain why they didn't run or do anything when their ISP notified them of the US government snooping back in November.
Re: Feds arrest couple, seize $3.6B in hacked Bitcoin funds
#866Ilya Lichtenstein (YC S11) is the co-founder of YC-backed MixRank. Heather Morgan, his wife, is apparently a serial entrepreneur, investor, and "contributor" to Forbes.
She's also a rapper, and not a very good one: https://www.youtube.com/watch?v=_DIuPPmY9mw
Re: Feds arrest couple, seize $3.6B in hacked Bitcoin funds
#867Earlier quoted context omitted.
Not necessarily. Secondly, banks and money lending are immoral and predatory. Usury is prohibited in the three major religions (Islam, Judaism, and Christianity), so we're better off without this dangerous practice. It goes hand in hand with fiat money by the way, the government is taking loans from the Fed, which is why it keeps needing to print more and more money to fuel it. The sooner we get rid of money lending…
The Zakat is an interesting concept, but I don't see much functional difference from inflating the currency by 2.5% and then giving the newly created currency to the poor. Presumably some system is needed to enforce Zakat, that same mechanism of force could be used to inflate currency. Since inflation is a centralized operation and Zakat is decentralized, I would wage enforcement of inflation is much easier than enfo…
According to https://www.usgovernmentspending.com/welfare_spending_analys..., in FY2021 welfare (not including Social Security or Medicare, which are for retirees, but including Medicaid) was $2,418B across federal, state, and local, about 76.6%. Neither Zakat or US welfare spending includes discretionary charity.
Overall, US welfare spending seems to be on the same order as, albeit a little less than, a Zakat imposed on all US wealth. Also, I'm not sure if this welfare figure includes EITC, which is the logical way that additional cash benefits should be distributed (since it avoids welfare cliffs).
Re: Feds arrest couple, seize $3.6B in hacked Bitcoin funds
#868Earlier quoted context omitted.
I don't see how. I've seen the evidence. Is it murder? No. Should it be manslaughter? Absolutely. Is he a piece of shit? Also, absolutely.
> the fact is that he took a gun across state lines This is the part that was unproven and goes against sworn testimony in the court. Supposedly, the gun was stored at his friend's house in Kenosha. There was no evidence he took the gun across state lines. So, you're proving the above poster's point because you're assuming he took the gun across state lines even though there was no evidence shown to show that was the…
Re: Feds arrest couple, seize $3.6B in hacked Bitcoin funds
#869Earlier quoted context omitted.
It sounds like all the good things for bitcoin here are coming from the power of the central authority to provide confidence, legitimacy, protection, and legal recourse. So why on earth is that a good thing for an asset which is all about the power of decentralized systems?
That feels like it's an easy answer: Human society, for a number of years now, has been governed by central authorities that define the rules in which society has to live. Bitcoin cannot and does not take part in dictating how society is to function, Bitcoin is put forward as an alternative currency that cannot be quantitavely eased / printed and gifted to society's largest entities as reward for criminal behaviours…
I'd encourage you to read an excellent primer on the subject: The Ascent of Money by Niall Ferguson. Money is a social construct, not anything tangible. You can create money from leaves you rake in your yard, and organize your neighborhood around how many leaves you have. You can all agree that the giant stone at the bottom of the bay belongs to the unfortunate sailor who lost it, and therefore he's still wealthy even though he can't get his giant stone back (true story). You can agree that the people who are oldest in society deserve the most access to credit, and give them services accordingly.
Basic point here is that wealth is derived from society creating connections and performing services for each other, not from holding currency. Currency is simply the oil in the machinery which helps facilitate these connections. It has no intrinsic value, and the easier it flows, the faster the engine can run. That's why the Fed conducts QE and money printing - it's about the economy, not the currency. Inflation is a side-effect but it's often preferable to loss of real assets and jobs and lives.
Re: Feds arrest couple, seize $3.6B in hacked Bitcoin funds
#870Earlier quoted context omitted.
The Zakat is an interesting concept, but I don't see much functional difference from inflating the currency by 2.5% and then giving the newly created currency to the poor. Presumably some system is needed to enforce Zakat, that same mechanism of force could be used to inflate currency. Since inflation is a centralized operation and Zakat is decentralized, I would wage enforcement of inflation is much easier than enfo…
According to https://en.m.wikipedia.org/wiki/List_of_countries_by_total_w... , the total wealth of the US in 2021 (which is what I'm supposing would be subject to the inflation Zakat) was $126,340B, 2.5% of which is $3,158B. According to https://www.usgovernmentspending.com/welfare_spending_analys... , in FY2021 welfare (not including Social Security or Medicare, which are for retirees, but including Medicaid) was $2…