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Binance halts deposits and withdrawals for customers in the UK

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Re: Binance halts deposits and withdrawals for customers in the UK

#101

Post by reedjosh »

ElectricalUnion wrote: post #99
reedjosh wrote: post #80

Earlier quoted context omitted.

BTC and Monero were built to resist laws made by people with guns. There were other attempts at digital currency before BTC, but they were all taken down by people with guns. That's kinda the whole point. That's why BTC uses energy. It's a means of resistance to people with guns.

> BTC and Monero were built to resist laws made by people with guns. Good thing they weren't built to resist laws made by people with 5$ wrenches /s https://xkcd.com/538/

Yes, it's a funny joke and all, but really it is made to resist that as well. And what I mean by that is that it's a currency you can use without a bank and is not controllable by those with wrenches.

Re: Binance halts deposits and withdrawals for customers in the UK

#102

Post by reedjosh »

this_user wrote: post #95
reedjosh wrote: post #80

Earlier quoted context omitted.

BTC and Monero were built to resist laws made by people with guns. There were other attempts at digital currency before BTC, but they were all taken down by people with guns. That's kinda the whole point. That's why BTC uses energy. It's a means of resistance to people with guns.

> That's why BTC uses energy. It's a means of resistance to people with guns. That logic makes about as much sense as using crypto currencies in general.

You're not making any real argument here, so I can't exactly refute it.

Proof of Work is a means of preventing any one actor from controlling bitcoin. Proof of Work is energy intensive, but the currency exists in a government resistant manner without the use of guns because of Proof of Work.

Re: Binance halts deposits and withdrawals for customers in the UK

#103

Post by psychlops »

onlyrealcuzzo wrote: post #30
distant_hat wrote: post #21

Earlier quoted context omitted.

As Taleb said on Balaji Srinivasan's comment on Fed not communicating about the rate increases earlier. If crypto people feel that the losses are because of Fed's actions, then they should also agree that the profits are because of Fed'a actions.

LoL - profits are because they're geniuses - losses are because other people are dumb. That's speculation 101.

Sounds like SVB.

Re: Binance halts deposits and withdrawals for customers in the UK

#104

Post by psychlops »

nradov wrote: post #55
reedjosh wrote: post #32

Earlier quoted context omitted.

Boy that BTC rug pull really hurt. I'm still totally reeling from the XMR rug pull. Oh, wait... Just because many are scams, doesn't mean there are no principled crypto currencies. God forbid one should have to perform due diligence and actually think a bit about their currency.

Principles are irrelevant in this space. The only thing that matters is actual laws enforced by people with guns.

A Hobbesian theory that people in power are happy that you believe.

Re: Binance halts deposits and withdrawals for customers in the UK

#106

Post by psychlops »

andrewstuart wrote: post #105

Anyone who loses substantial money via crypto exchange collapse really has no one to blame but themselves. The string of collapses until now have been warning enough. No crying if you lose your money when the next one goes pop.

To be fair, most people today are incapable of understanding or entertaining an alternative to what they've been told.

Re: Binance halts deposits and withdrawals for customers in the UK

#107

Post by wil421 »

baq wrote: post #50
onlyrealcuzzo wrote: post #30

Earlier quoted context omitted.

LoL - profits are because they're geniuses - losses are because other people are dumb. That's speculation 101.

This isn't even speculation, it's hope-driven gambling.

I’ve tried to explain it the same way to my friend who is dabbling in Cyrpto. I think he even changed a 401k allocation to something Crypto-ish.

He likes gambling too and I try to tell him it’s the same.

Re: Binance halts deposits and withdrawals for customers in the UK

#108

Post by psychlops »

MagicMoonlight wrote: post #71

Cryptocurrency is just an attempt by fraudsters to repeat all of the previous scams on a brand new banking system. It turns out there’s actually a reason we have so many laws.

If only cryptocurrency could have created all the necessary global laws in addition to a banking system. Too bad it wasn't perfect upon creation.

Re: Binance halts deposits and withdrawals for customers in the UK

#109

Post by agumonkey »

MagicMoonlight wrote: post #71

Cryptocurrency is just an attempt by fraudsters to repeat all of the previous scams on a brand new banking system. It turns out there’s actually a reason we have so many laws.

Every once in a while a new space opens, wiped of all memory of the previous space. Free flowing energy .. and free to learn it all all over again.

Re: Binance halts deposits and withdrawals for customers in the UK

#110

Post by mrguyorama »

sschueller wrote: post #97
reocha wrote: post #79

Earlier quoted context omitted.

Unsurprisingly these regulations exist for a reason.

Yes, what crypto doesn't have that fiat has is the government bailing them out when you convinced them that you are not system relevant and gamble to a point of failure just to then be considered system relevant. /s

You are just purposely ignoring the DAO then, or everything tether does
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