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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

#161

Post by jackvalentine »

matheusmoreira wrote: post #153
jackvalentine wrote: post #145

Earlier quoted context omitted.

> I think refraining from posting due to fear of downvotes is a massive disservice to HN. People should be exposed to views of all kinds. It wouldn't be very interesting if we all agreed. No evidence for this, but I think more commonly people refrain from posting because if you have a controversial opinion you don’t get one thread of posts to reply to suddenly everyone piles on and you’re “discussing” it with 50 diff…

I've certainly experienced that. Depending on the complexity of the replies, I'll either reply to everyone or choose one of them to respond to.

Yeah I’ve experienced it myself, and am aware that I am often on the other side too…

It’s debilitating to have people throwing their 2c in to a growing tree thread and bounce! At least with linear vbulletin forums of old people would have to scroll past the conversation or look like idiots when they reply something totally out of context.

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

#162

Post by viro »

coralreef wrote: post #146
make3 wrote: post #87

Earlier quoted context omitted.

it's not because you disagree with them that the quality is bad. Saying that crypto is very heavily linked to scams is an empirical fact at this point

I feel like this is a weak point. There are countless spam/scam websites out there, because anyone can spin up a page and publish something. That’s why you exercise a bit of caution and skepticism. That’s the tradeoff of an open web. When you have a limitless design space, you get lots of trash. But saying “websites are a scam” is just disingenuous to the fact that some websites are very legit and very useful.

Are you American?

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

#163

Post by jerry1979 »

AlexCoventry wrote: post #55
cypress66 wrote: post #51

Earlier quoted context omitted.

I'll bite. What would a proper cryptocurrency be?

Using cryptographic signatures and distributed systems theory to authenticate asset transfers is against natural law. It's in Leviticus.

Pardon my ignorance, but what do you mean by "it's in Leviticus"?

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

#164

Post by pid-1 »

crtified wrote: post #54
downWidOutaFite wrote: post #30

I'm perplexed that BTC's price dropped 5% yesterday and bounced right back today. How does the market not care that the biggest exchanges keep collapsing?

It's no more illogical than, say, the progression of the SPX500 and Dow Jones Industrial stock market indexes between 2019-2020-2023. " How does the market not care vis-a-vis the gruelling recent pandemic, ongoing supply shocks, mounting climate change disasters, population curve declines, military instability ....... ? " In Bitcoin's case, it needs be remembered that: * Bitcoin as the original (and, in some ways, le…

> It's no more illogical than, say, the progression of the SPX500 and Dow Jones Industrial stock market indexes between 2019-2020-2023.

> "How does the market not care vis-a-vis the gruelling recent pandemic, ongoing supply shocks, mounting climate change disasters, population curve declines, military instability .....

The progression was completely logical. Central banks deployed trillions in QE. Market participants decided that betting against institutions with so much money was not wise and joined the bull ride. We are now paying with inflation.

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

#165

Post by eropple »

Yeahsureok wrote: post #139
hn_throwaway_99 wrote: post #74

Earlier quoted context omitted.

I take issue with something about crypto "causes us to lose our minds?". Couple points: 1. At this stage of the game, there is not a lot new under the sun to discuss that is likely to alter people's opinions. I would say that I did think there were some good comments in some of the other posts about what constitutes a security by the legal definition, and helped me understand better the specific points of the SEC's a…

> that it can somehow "escape" the legal frameworks of human beings And yet multibillion dollar companies whose entire business is illegally running hotels or taxis get nowhere near the vitriol? Airbnb clearly causes harm for locals in popular tourist cities.

> And yet multibillion dollar companies whose entire business is illegally running hotels or taxis get nowhere near the vitriol?

I have perturbed many electrons around here on both illegal taxi companies and shitty world-burning cryptography. I contain the capacity to think more than one thing is awful society-corroding trash.

Do you not?

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

#167

Post by Daishiman »

Yeahsureok wrote: post #139
hn_throwaway_99 wrote: post #74

Earlier quoted context omitted.

I take issue with something about crypto "causes us to lose our minds?". Couple points: 1. At this stage of the game, there is not a lot new under the sun to discuss that is likely to alter people's opinions. I would say that I did think there were some good comments in some of the other posts about what constitutes a security by the legal definition, and helped me understand better the specific points of the SEC's a…

> that it can somehow "escape" the legal frameworks of human beings And yet multibillion dollar companies whose entire business is illegally running hotels or taxis get nowhere near the vitriol? Airbnb clearly causes harm for locals in popular tourist cities.

You must not have been reading HN for the past two years then.

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

#168

Post by Analemma_ »

Yeahsureok wrote: post #139
hn_throwaway_99 wrote: post #74

Earlier quoted context omitted.

I take issue with something about crypto "causes us to lose our minds?". Couple points: 1. At this stage of the game, there is not a lot new under the sun to discuss that is likely to alter people's opinions. I would say that I did think there were some good comments in some of the other posts about what constitutes a security by the legal definition, and helped me understand better the specific points of the SEC's a…

> that it can somehow "escape" the legal frameworks of human beings And yet multibillion dollar companies whose entire business is illegally running hotels or taxis get nowhere near the vitriol? Airbnb clearly causes harm for locals in popular tourist cities.

Yes, Uber and Airbnb should not have been allowed to get away with it either. That doesn't mean we should allow new companies to run the same "break the law and try to grow as fast as possible so by the time the government catches up, you're already entrenched" playbook for the sake of foolish consistency; just the opposite: it increases the urgency with which companies trying to do that should be rapidly brought to heel. Which is exactly what is happening.

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

#169

Post by paxys »

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?

Some topics just automatically make people turn their brains off and speak purely out of emotion – crypto, Apple, Elon, immigration, "woke culture" etc. You are never getting meaningful discussions on them here or anywhere else.

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

#170

Post by BLKNSLVR »

codehalo wrote: post #75
barking_biscuit wrote: post #46

Earlier quoted context omitted.

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…

I don't know what "discourse" you are talking about. I've been reading about crypto on hacker news before bitcoin hit one dollar. Other than r/buttcoin and yahoo groups, this site has been one of the most anti crypto places you can visit, to the point of being an absolute embarrassment. It has been a lesson to me about humans and intelligence since that time. Still love the place though, but I learned never to let co…

Human nature is a funny thing, and the kind of intelligence that attracts someone to the quality of discussion on HN doesn't appear to exclude them from some of the baser, competitively animalistic instincts still present down there in the basement of human DNA.

Personally, I think I can reason through a great number of things. But I still get depressed, angry, jealous, happy, enthused, etc. in ways that reason has to catch up to, before the instinctive emotion makes itself public - and sometimes reason does not or cannot catch up.

(Generally the positive ones I leave to run wild, but sometimes they need to be suppressed too).

Almost on the actual topic, I think cryptocurrency has proven it's use case in the global transfer of value without a centralised third party. And that, in itself, is pretty amazing. All the rest is the application of this technology having to work itself out.

The whole argument about criminal activity or porn or whatever is just proof of the use-case. The internet itself was accused of just being a conduit for porn not really that long ago.

Because it's related to "value (transfer)" means it should have been considered inevitable that it would attract, well, the kinds of people it has obviously and very publicly attracted. And that nicely ties off the loop of human nature...

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