241–250 of 332 posts
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We've been able to do this for decades. It's a core part of our PKI ecosystem.
Not without a middlemen that we trust (cert authority in this case).
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More specifically, it is > Buying drugs, laundering money, ransomware over the internet. And I’m only being slightly facetious, these are serious industries. Bringing the coordination and scale of the internet to these activities is big business.
Yeah a lot of weird morality policing— these are massive industries being served by the crypto space rn
- illegal drug trafficking/sales - sex trafficking - immigration trafficking - child sexual abuse material sales - contract killing
If being opposed to these industries makes me into the "morality police", then I think you're delusional. You could make the same argument for any crime; that all laws are "morality policing".
These industries destroy an enormous number of lives and we should be crushing the people who profit from them.
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I'm sure any private individual can sue these founders and take them to court. But the SEC isn't going to do it.
LOL as of today the SEC can’t do it, horrible case ruling from 5th circuit of approvals basically makes SEC enforcement of rules illegal.
https://www.reuters.com/legal/government/sec-in-house-judges...
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Have you considered writing in the horror genre? You have a knack for it.
I’m actually a well-known author and this is a pseudonym. This really isn’t that crazy of an idea though. Read “The Sovereign Individual” by Davidson & Mogg. Written in 1999/2000.
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Not sure if it’s my circle, but you seem an exception. I live in a tiny village and haven’t touched cash for years (somewhere 2018), nor has anyone I know. Personally I hear what you are saying as I had my accounts frozen (in my country, you can basically sue a company and start by freezing the assets of the company and their owners without any proof) a long time ago, so I always have a lot of accounts no one knows a…
Gold isn't really for when the entire system collapses. It's for when your own country collapses but some other place where gold is valuable doesn't. It's easier to shove a few grams of gold up your ass and make it to somewhere stable than to shove a roll of hundreds up your ass. This is actually what happened in Vietnam, as I understand, as some individuals bribed their way out with fisherman's boats using what gold…
> As an inevitable crash occurs, many of the swindles and alleged swindles are coming to light. Yeah, bubbles make overvalued prices. Crashes occur. Losers fail. Winners gain bigger marketshare and mindshare. Spectacular failures are actually a sign of a functioning market. The worst possible thing that could have happened last week would be the federal reserve offering Do Kwon a very cheap bridge loan to stabilize h…
>Does anyone seriously believe that etrade or robinhood advertising options trading to me is somehow different? There are constant commercials for precious metals and ETFs and all kinds of things.
Well they're equally bad in terms of being a scam, unless you are a hedge fund that has enough liquidity to even need options trading in the first place. Not sure what other conclusion you could come up with there.
>What really bothers me is the incredible amount of ignorance I see in the comments section about crypto, blockchain technologies, poor understandings of economics, etc.
Being bothered by the flaws of crypto does not equate to being uninformed. That kind of logic is what I expect from a car salesman, not HN.
Yes, that wasn't nice of me, but being told I'm old and resistant to change because I disagree with someone doesn't engender friendly interpretations.
No asset is a pure force for good nor evil, but there are material issues with crypto and pretending they're ONLY a technicality is convincing no-one.
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DeFi is, after all, notably devoid of serious compromises :-) More seriously: there are cryptographically sound schemes (like CT) that address CA compromise.
CT is cool, but who is writing/submitting those logs?
There's a nice visualization here[1].
[1]: https://certificate.transparency.dev/howctworks/#stepby
The issue here is actually pretty easy to grok. Crypto is a new market, so there is a historical amount of information asymmetry between consumers and producers. This brings a lot of scammers to the space. A lot of crypto is definitely bullshit, but there are some use-cases that I admire that aren’t just gambling on Shit coins.
> you’d be an idiot to ignore the realistic and adopted use-cases Ignoring the hostility, what would you list as the realistic and adopted use-cases for crypto?
The thing to keep in mind for crypto is that the inherent inefficiency leads to high transaction costs that tend to make it a less viable option for legal activities.
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Regulation of the cryptocurrency space, for example, such that huge amounts of funds can't be kept and moved anonymously and without consideration of (for instance) local taxes in these countries the rich shop between. Those who do so must be held to the same standards as those already resident. In the UK recently we have seen (yet another) backlash against this in the form of the outcry against the wife of the Chanc…
You have a good heart, and I’m not saying I entirely disagree with you, but think of it this way: If I’m paying taxes, I want it to go to something I care about. “Non-dom” status is blatant fraud for sure and I can’t entirely support that. But, shopping around for preferential territories is kind of what everyone is already doing, right? Imagine if your town made it illegal or expensive for you to move to a neighbori…
Sure, it's solving a 'problem' for them, the 'problem' is that they have to follow the same rules as the little people. I can see why they might pursue such a thing, and as I say - it's incumbent upon the rest of us to stop that behaviour, and force them to contribute as others do.