41–50 of 83 posts
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Is AAVE explicitly designed to facilitate money laundering?
By association, yes. All cryptocurrency and "defi" ostensibly has that goal. What is it exactly you think they're trying to "decentralize"?
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Hopefully some zealous prosecutor doesn't see his actions as defying sanctions.
He never said he was sanctioned
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If they're smart, they wouldn't admit to it publicly. But do you not remember the early history of Bitcoin, and the Silk Road? Nothing's changed since then, except some people got arrested and some haven't yet.
What's wrong with buying and selling drugs?
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If they're smart, they wouldn't admit to it publicly. But do you not remember the early history of Bitcoin, and the Silk Road? Nothing's changed since then, except some people got arrested and some haven't yet.
> openly and shamelessly stating, since around 2009, that the entire purpose of their "art" is to aid in laundering money and other crimes? Becomes > If they're smart, they wouldn't admit to it publicly. Let me guess. Your favourite castle is motte and bailey?
Less of this, please. Obviously, not everyone into crypto and defi says those exact words. But there are enough saying that type of thing, where I think it's wrong of anyone involved with this to feign ignorance. They know what they're getting into.
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It looks like they can be > Interestingly, in the end I was able to withdraw all my funds from AAVE through direct contract calls as illustrated above. So basically the web UI is blocked but people can still use AAVE by sending transactions to the blockchains directly. The only thing that was censoring his transactions was the website, which is centralized by design.
Basically, the "sanction preventions" Aave is instituting are for show only, in hopes they fool the regulators. They'll annoy and disturb the casual crypto trader but will do nothing to stop the big criminals from money laundering. I hope the developers of these defi lending protocols get hit with the criminal charges next.
It's pretty crazy how all the arguments for freedom of speech (and software) go out the window for many people whenever cryptocurrency comes up.
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By association, yes. All cryptocurrency and "defi" ostensibly has that goal. What is it exactly you think they're trying to "decentralize"?
Transactions and storage of money. You could also argue that artists who sell their artworks for huge sums of money are associating themselves to money laundering.
>You could also argue that artists who sell their artworks for huge sums of money are associating themselves to money laundering.
Yes, that's why transactions for those huge sums are subject to AML laws.
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What's wrong with buying and selling drugs?
I really don't think you want to continue the discussion in the direction of "what's wrong crime A and crime B", that'll get off the rails very quickly.
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Transactions and storage of money. You could also argue that artists who sell their artworks for huge sums of money are associating themselves to money laundering.
Transactions and storage of money are already decentralized, through the traditional finance system that connects at least thousands of banks and payment processors and other financial institutions. So it can't be that. >You could also argue that artists who sell their artworks for huge sums of money are associating themselves to money laundering. Yes, that's why transactions for those huge sums are subject to AML la…
That's not the case for every country on the planet
> Yes, that's why transactions for those huge sums are subject to AML laws.
And how do those prevent rich person A from paying rich person B (by buying a painting owned by B for an inflated price) for some illegal service?
I have nothing positive to say about this article. I giggled a little at reading it... A dude with way more money than brains is mad that "decenteralized finance" is decenteralized and can do whatever they want? The guy then admits to losing a quarter of a million; you'd think that'd be enough of a penalty for him to realize that maybe he should take his remaining money out, but nope. Gee. Who could've imangined that…
Did you read the article? His transactions went through in the end, just not through the website