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SEC asks for emergency order to freeze Binance US assets anywhere in the world

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Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#101

Post by sangnoir »

ninepoints wrote: post #92
111111101101 wrote: post #84

Earlier quoted context omitted.

[flagged]

This is a typical sort of projection I see from crypto-owners. They can't seem to contemplate the fact that there are people that think crypto is a bad idea _regardless_ of how much profit they might or might not have made by buying or selling at various points in history.

Yup, it's a version of telling critics "Enjoy being poor", which is an incredibly lazy, unfalsifiable argument. "You disagree with my position because you are broken" is not a sound argument, but has many variations (including "You dislike Apple/Elon because you are poor")

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#102

Post by 111111101101 »

ninepoints wrote: post #92
111111101101 wrote: post #84

Earlier quoted context omitted.

[flagged]

This is a typical sort of projection I see from crypto-owners. They can't seem to contemplate the fact that there are people that think crypto is a bad idea _regardless_ of how much profit they might or might not have made by buying or selling at various points in history.

Crypto made a mockery of the authorities and their war on drugs. A bad idea lol? No, it started a revolution.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#103

Post by politician »

thryg wrote: post #95
marcell wrote: post #91

Under SEC logic, this action is meant to protect the users of Binance US who. According to SEC logic, those users the victims of malfeasance by Binance US and it's decuitful, fraudulent actions. I would ask: is there even a single Binance US user that wants the SEC to take custody of their assets? instead of sticking with Binance US?

Of course not but the same users would blame the SEC when they loose money. Just like silicon valley bank depositors

SVB went down due to the Fed’s aggressive interest rate hikes that left their loan portfolio underwater. “Management” or Any other explanation is pure propaganda, especially considering how it happened to FRB and how the government responded by implicitly guaranteeing every depositor in the banking system. Is every bank mismanaged? It was Kremlin levels of double talk.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#104

Post by wmf »

marcell wrote: post #91

Under SEC logic, this action is meant to protect the users of Binance US who. According to SEC logic, those users the victims of malfeasance by Binance US and it's decuitful, fraudulent actions. I would ask: is there even a single Binance US user that wants the SEC to take custody of their assets? instead of sticking with Binance US?

One wrinkle is that the SEC is ordering Binance to honor customer withdrawals so at least customers won't be stuck in a multi-year limbo as with Celsius and others.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#105

Post by fallingknife »

barking_biscuit wrote: post #46
thelastparadise wrote: post #24

The quality of discourse at this stage of the thread (2 hours, 20 comments) is incredibly disappointing. Hn usually has high quality discussions. What is it about crypto that causes us to lose our minds?

I remember fondly participating in the hype around crypto in 2017 and going in on btc/eth and also building a mining rig etc. The discourse on HN back then is quite different from today. These days we've seen scam after scam, fraud after fraud, failure after failure. From a technology perspective it's neat, but the kinds of individuals it tends to attract make it seemingly not actually all that useful in wider societ…

All true, but I can't get from there to people shouldn't be allowed to make their own choices about what they buy.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#106

Post by HaZeust »

cypress66 wrote: post #36
wsatb wrote: post #26

Earlier quoted context omitted.

The statement cracks me up. Without these exchanges, crypto would still be a small blip on the radar. It would continue to be nothing but a hobby for techies, libertarians, and techie libertarians, forever. If it's ever going to become more than a playground for scam artists, the industry needs real leadership that doesn't just brush every scam away with a meme.

"Not your keys not your crypto" doesn't mean a world without exchanges. Exchanges should be used to exchange , not as a bank where you store your crypto.

Well that's what Bridges were intended for

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#107

Post by fallingknife »

ninepoints wrote: post #92
111111101101 wrote: post #84

Earlier quoted context omitted.

[flagged]

This is a typical sort of projection I see from crypto-owners. They can't seem to contemplate the fact that there are people that think crypto is a bad idea _regardless_ of how much profit they might or might not have made by buying or selling at various points in history.

I can contemplate that. What I can't understand is wanting the government to tell people they can't buy it because they think it's a bad idea.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#108

Post by matheusmoreira »

ninepoints wrote: post #99
matheusmoreira wrote: post #34

Earlier quoted context omitted.

It's really not any different than traditional cash. "Not your cash, not your money" also holds true. Storing lots of cash at home is even more difficult and risky. Keep your money at the bank? The govern can simply turn off your money for any reason. You're literally posting in a thread about the US government seeking to freeze Binance's accounts.

> The govern can simply turn off your money for any reason. This obviously happens so often /s

Happened in the 90s where I live. Hyperinflation set in and government just froze everybody's accounts in a desperate attempt to stop it. It's 2023 and people are still afraid it might happen again, especially with a literal communist in power.

Cryptocurrency is absolutely valuable as a defense against government idiocy. That fact cannot be denied.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#109

Post by JumpCrisscross »

politician wrote: post #103
thryg wrote: post #95

Earlier quoted context omitted.

Of course not but the same users would blame the SEC when they loose money. Just like silicon valley bank depositors

SVB went down due to the Fed’s aggressive interest rate hikes that left their loan portfolio underwater. “Management” or Any other explanation is pure propaganda, especially considering how it happened to FRB and how the government responded by implicitly guaranteeing every depositor in the banking system. Is every bank mismanaged? It was Kremlin levels of double talk.

> SVB went down due to the Fed’s aggressive interest rate hikes that left their loan portfolio underwater

This is like saying your boat sank because the water dared to come in. Yes. But there’s also a hole in it.

Re: SEC asks for emergency order to freeze Binance US assets anywhere in the world

#110

Post by mehlmao »

politician wrote: post #103
thryg wrote: post #95

Earlier quoted context omitted.

Of course not but the same users would blame the SEC when they loose money. Just like silicon valley bank depositors

SVB went down due to the Fed’s aggressive interest rate hikes that left their loan portfolio underwater. “Management” or Any other explanation is pure propaganda, especially considering how it happened to FRB and how the government responded by implicitly guaranteeing every depositor in the banking system. Is every bank mismanaged? It was Kremlin levels of double talk.

SVB failed to diversify their holdings. The venture capitalists who caused the run and their funds also failed to diversify.
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