561–570 of 790 posts
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The coins have failed because the exchanges failed and people use them incorrectly. Got it.
The coins have failed at the moment because prices have crashed. No one was complaining about coins failing when prices were soaring.
So while 'Nobitex' doesn't mention anything about who is running it on their website, you can be certain that it is a very important company as far as IRGC is concerned.
Which brings us to the legal question (IANAL) of how much legal exposure is Binance facing here, given that the Iranian-American community is gearing up to legally excise ("wipe from pages of history") all elements of IR from access to US government, commerce, academia, lobbies, communications, and of course finance, and those who support the Islamic Republic here in USA, and their terrorist IRGC will face legal consequences.
From Reuters:
"Crypto giant Binance has processed Iranian transactions with a value of $8 billion since 2018 despite U.S. sanctions intended to cut Iran off from the global financial system, blockchain data show.
"Almost all the funds, some $7.8 billion, flowed between Binance and Iran's largest crypto exchange, Nobitex, according to a review of data from leading U.S. blockchain researcher Chainalysis. Nobitex offers guidance on its website on how to skirt sanctions."
https://www.reuters.com/business/finance/exclusive-crypto-ex...
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> Running a stock exchange is a hard business too; you are the market maker, you set the spread, and the most sophisticated investors in the world are trying to arbitrage you Normal markets aren’t as centralised as crypto. The exchange and market maker are separate.
It's pretty uncommon for exchanges to do all their market making directly, and many of the ones that do still rely on outside market making. FTX was almost the exception since Alameda spun out of it IIRC
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Regulations are coming? On a fully public ledger? You understand that BTC, ETH, and every derivative non-privacy-coin is exactly what the regulators have been salivating for, right? Why regulate a non-repudiable chain-of-custody that mathematically proves your serfs'/slaves' assets that you can seize at will? > libertarians were empowered(but not enough to be the main political power). You should re-examine the GOP,…
It’s always amusing to see crypto people claiming that mathematics can’t be regulated. Just like they can’t regulate chemistry, right? Well, actually it’s always the peoples behavior that is regulated. Obviously no one can stop you mixing chemicals in private but they can totally tell you what you can and can’t do in public with it. The same thing goes for crypto, you can calculate block hash all you want but they ca…
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This is a terrifying definition of democracy, "you don't get a vote but there is an informal and non-binding channel to lodge complaints." That's not democratic at all!
It might not be "democratic", to me personally it seems fair as you are not forced to run the rules that are imposed by others. It might not be the wise decision, but the market will decide on the "better" rules.
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For those not up to date on crypto people, SBF is Sam Bankman-Fried [1] and CZ is Changpeng Zhao [2]. I don't know why they insist on being called by their initials like they're some sort of ticker symbol. [1] https://en.wikipedia.org/wiki/Sam_Bankman-Fried [2] https://en.wikipedia.org/wiki/Changpeng_Zhao
You see the same thing with Middle East Leaders - MBS, MBZ, etc. When the names are even semi-complex and the reach is global, people default to acronyms.
DeFi --> CeFi
I'm glad a big government supporter such as SBF is out of crypto leadership. Crypto is an anarchist experiment and it should remain that way
> Crypto is an anarchist experiment and it should remain that way What exactly makes it remain that way? I don't say this as a cheap "gotcha": what's the governance structure that makes it an anarchist experiment, specifically, and not just a free-for-all?
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You see the same thing with Middle East Leaders - MBS, MBZ, etc. When the names are even semi-complex and the reach is global, people default to acronyms.
Pedantic nit: Those are initialisms. An initialism is when the individual letters are individually pronounced, like "emm-bee-ess." An acronym is when the initial letters are pronounced as a word, e.g. SOAR ("Situation Options Act Review-and-Reassess")