661–670 of 761 posts
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Who would pay for porn? Someone who wants to see what's behind that paywall. Crytocurrency is difficult and costly to trace and exchange identifying not available to Syria. VPNs would be used Same process for other currencies on Binance and other exchanges.
When did Binance start to accept the Syrian Pound? This is just the usual hand-waving that ignores all the inconvenient details.
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>> It doesn't. Everyone who claims otherwise can't come up with a single credible example. > Buying a subscription to gay.com from Syria. That is not a credible example. Here are some reasons: 1) Paying for porn? Paying for porn when the implication is that it's illegal and could get you in trouble? Who would do that? 2) Cryptocurrency isn't anonymous, and is usually highly traceable. 3) And even if it was anonymous,…
Who would pay for porn? Someone who wants to see what's behind that paywall. Crytocurrency is difficult and costly to trace and exchange identifying not available to Syria. VPNs would be used Same process for other currencies on Binance and other exchanges.
1. Deposit your money in a bank. Wire it to Binance. Buy Bitcoin.
2. Go to a McDonald's.
3. Hire a gig worker through an app, pay them in cryptocurrency to buy a Big Mac with fiat and give it to you.
4. Eat your $55 Big Mac, and wonder at the amazing real-world utility of cryptocurrency.
This is the kind of pain that comes from trusting scammers and nincompoops about unworkable blockchain "scalability" fixes. Here's the sequence. Those dumb enough to ignore it are doomed to repeat the pattern. I'm probably getting some details wrong in this Rube Goldberg scheme, so feel free to correct. 1. Citing "Ethereum network congestion," Axie Infinity announces an ethereum side chain, Ronin.[1] 2. Ronin was a c…
This is exactly why crypto is such a disaster. Every week there is yet another scam where people losing their money. The feedback from crypto enthusiasts is well look at those idiots for putting their money into some scheme or you are not smart enough use this thing. Look "nobody" understands what you are talking about. These financial systems are inscrutable and the problem is getting worse. You are building systems…
Correction: this is exactly why MONEY is such a disaster.
There has always been scams involving money since, well, since money was invented. You guys portray crypto as being particularly terrible, but the truth is there are hundred times (or more) more money being lost to scams involving the US dollar or the Euro. Crypto is no better or no worse in this regard. Some people will always make dumb mistakes with their money. For example just in the US alone, last year, $5.8 billion was lost to fraud: https://www.cnbc.com/2022/02/22/consumers-lost-5point8-billi... that's excluding 7.6 billion people outside of America, or money lost to causes other than fraud (eg. theft), etc, etc
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The first ransomware attack was in 1989.
PLEASE elaborate, I'm intrigued.
https://www.crowdstrike.com/cybersecurity-101/ransomware/his...
Note that in 1989 Panama was a narco-state, so running a scheme like this via there made some sense.
I'm out of the loop and trying to understand - people lent over half a billion dollars of their 'real' fake money (ETH) to a game studio so they could transact on the studio's sidechain because gas fees are prohibitively expensive on ETH, and then the game studio got hacked and lost it all? How was this ever going to end any other way? Imagine how preposterous the idea of storing $650mm in USD in a random game studio…
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You are neglecting to mention the great upsides in crypto currency. * Giving criminals and scammers the ability to exchange goods and services anonymously. * Providing a source of funding North Korea's nuclear weapons program * Allowing nation states to engage in global commerce despite sanctions because they won't stop killing innocent people * Convincing older and gullible people to give their money to someone they…
Ukraine raised $100 million in crypto donations. It's going to be offering an NFT series on Ethereum to raise yet more funds: https://qz.com/2147694/ukraine-is-selling-nfts-like-war-bond... Beyond the state's fundraising efforts, many in Ukraine were only able to take their wealth with them when they fled the country because they had it in the form of crypto. >>* Giving criminals and scammers the ability to exchange…
Ukraine was not cut off from the global financial system and had no issue receiving donations in fiat currency—I myself sent them some fiat. It was quick and it was easy and the Ukrainians lost a hell of a lot less of my donation to transaction fees than they did of the ETH.
Donating to Ukraine in ETH is a higher-fee way to do something you can already do (this is typical of purported blockchain “use cases”). If you actually care about the recipient of the donation, you should want as little of the donation to be siphoned off as transaction fees as possible.
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Buying a subscription to gay.com from Syria. Your on the clock..
>> It doesn't. Everyone who claims otherwise can't come up with a single credible example. > Buying a subscription to gay.com from Syria. That is not a credible example. Here are some reasons: 1) Paying for porn? Paying for porn when the implication is that it's illegal and could get you in trouble? Who would do that? 2) Cryptocurrency isn't anonymous, and is usually highly traceable. 3) And even if it was anonymous,…
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You are neglecting to mention the great upsides in crypto currency. * Giving criminals and scammers the ability to exchange goods and services anonymously. * Providing a source of funding North Korea's nuclear weapons program * Allowing nation states to engage in global commerce despite sanctions because they won't stop killing innocent people * Convincing older and gullible people to give their money to someone they…
The last six months proved that governments are willing to debank their own citizens and entire countries without due process. Thank god for crypto.
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This is exactly why crypto is such a disaster. Every week there is yet another scam where people losing their money. The feedback from crypto enthusiasts is well look at those idiots for putting their money into some scheme or you are not smart enough use this thing. Look "nobody" understands what you are talking about. These financial systems are inscrutable and the problem is getting worse. You are building systems…
« This is exactly why crypto is such a disaster. » Correction: this is exactly why MONEY is such a disaster. There has always been scams involving money since, well, since money was invented. You guys portray crypto as being particularly terrible, but the truth is there are hundred times (or more) more money being lost to scams involving the US dollar or the Euro. Crypto is no better or no worse in this regard. Some…
Earlier quoted context omitted.
This is exactly why crypto is such a disaster. Every week there is yet another scam where people losing their money. The feedback from crypto enthusiasts is well look at those idiots for putting their money into some scheme or you are not smart enough use this thing. Look "nobody" understands what you are talking about. These financial systems are inscrutable and the problem is getting worse. You are building systems…
« This is exactly why crypto is such a disaster. » Correction: this is exactly why MONEY is such a disaster. There has always been scams involving money since, well, since money was invented. You guys portray crypto as being particularly terrible, but the truth is there are hundred times (or more) more money being lost to scams involving the US dollar or the Euro. Crypto is no better or no worse in this regard. Some…
Very clearly 'traditional' finance is far safer. There's a reason financial institutions are annoying and stodgy -- they have centuries of hard-lessons-learned. Crypto 'disruption' is mostly throwing away that painful experience.