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Binance founder Changpeng Zhao agrees to step down, plead guilty

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Re: Binance founder Changpeng Zhao agrees to step down, plead guilty

#151
post #75

Earlier quoted context omitted.

Its cloudflare dns

As in 1.1.1.1? I don't use 1.1.1.1 for my DNS provider and yet I still get the never ending validation loop. I am on Google Fiber though, so I probably use 8.8.8.8 without explicitly meaning to. Perhaps this is a problem shared by both Cloudflare and Google's DNS proxies?

If you’re on iOS / Mac and have Apple private relay that would also use 1.1.1.1

Re: Binance founder Changpeng Zhao agrees to step down, plead guilty

#152
post #102
post #62

Earlier quoted context omitted.

"True crypto has never been tried"

It’s funny how true believers in communism and true believers in crypto talk exactly the same way nowadays. “FTX and Binance are not examples of true crypto!” “Soviet Union and Venezuela are not examples of true communism!”

I mean has Venezuela ever claimed it was communist? I always thought it was socialist. Also its oldest standing communist party technically sits in opposition to Maduro.

Re: Binance founder Changpeng Zhao agrees to step down, plead guilty

#153
post #68

Incoming: third party compliance monitor (as always, run by ex DOJ people) and a more risk averse CEO. I hope this doesn't mean they eventually stop operating in the unregulated markets like China, Vietnam, Turkey, etc. Bet365 and DraftKings do it but for gambling so it's certainly possible to run a major respected company while ignoring the laws of countries that don't have the leverage America does.

[dead]

Re: Binance founder Changpeng Zhao agrees to step down, plead guilty

#154

Earlier quoted context omitted.

Have you looked into this case at all? The evidence compiled against Binance is extensive and compelling.

Are you sure? Well, you must be new, it's just SEC's business. Here is what the most enshrined companies are doing Your average tradfi trader - https://www.fnlondon.com/articles/wall-street-pays-1-8bn-in-... And here the most respected (and/or feared) financial institution - https://www.reddit.com/r/amcstock/comments/p8m2p6/citadels_p... If I were you, I'd be much more concerned about a very influential company like…

I know way more about all of this than you.

Re: Binance founder Changpeng Zhao agrees to step down, plead guilty

#156

What about cofounder Yi He? If she's still in place then CZ stepping down doesn't mean much. I mean they have two kids together, don't tell me he won't be involved from the sidelines.

Exactly -- and CZ was always the fall guy. Yi is the mastermind.

Can you elaborate more? I do not know anything about Yi and how she is a cofounder.

Re: Binance founder Changpeng Zhao agrees to step down, plead guilty

#157
post #75

Earlier quoted context omitted.

Its cloudflare dns

As in 1.1.1.1? I don't use 1.1.1.1 for my DNS provider and yet I still get the never ending validation loop. I am on Google Fiber though, so I probably use 8.8.8.8 without explicitly meaning to. Perhaps this is a problem shared by both Cloudflare and Google's DNS proxies?

I use a Google mesh network and get the same issue, which I assume is related to it using 8.8.8.8 by default.

Re: Binance founder Changpeng Zhao agrees to step down, plead guilty

#158
post #62

Earlier quoted context omitted.

"True crypto has never been tried"

XMR and BCH have been working great for a decade and in my mind are the ONLY Cryptocurrency projects that are not outright scams or digital ponzi schemes. It's odd how clear the picture is but how many people have been fooled by fakes. What other industry is 99% scams and only 1% legitimate?

It's nice to see level-headed crypto optimism here. It's disheartening seeing bulls who have long since stopped pretending their favorite coin has any utility beyond being a speculative asset and a get-rich-quick scheme given its poor transaction rate, or that the features they've bolted on will make it valuable, none of which make it viable as a currency.

Why would anyone bother with Bitcoin?

If you want to avoid financial regulations in transmitting value across borders or purchase black market goods and services, you're going to be caught since all/most Bitcoin is KYCd and impossible to keep private, unlike Monero.

If you want to avoid transaction fees, you're SOL since it's at $10 right now versus $0.06 for Monero.

If you want a store of value, it's poor because it's volatile, not backed, and theft is not reversible, unlike virtually any other regulated security.

If you want to make legal purchases with it, any transaction costs $10 and can take hours or days, and is not reversible if you are defrauded, unlike USD.

Bitcoin has no value proposition beyond being a speculative asset and a Ponzi scheme for early buyers.

Re: Binance founder Changpeng Zhao agrees to step down, plead guilty

#159
post #99

Earlier quoted context omitted.

I find it really hard to reconcile this viewpoint with reality. I personally know businesses who use stablecoins for international money transfers because it’s just faster and cheaper. Also, every month or so an article pops up here where either some business is rekt because their payment processor’s automated process kicked them off, or someone’s bank account got closed in a similar way screwing them. Yet the only w…

What kind of businesses?

One is a run of the mill software engineering consultancy, the other a startup making a development as a service platform where they link companies needing work with engineers in the developing world.

Re: Binance founder Changpeng Zhao agrees to step down, plead guilty

#160

Earlier quoted context omitted.

As in 1.1.1.1? I don't use 1.1.1.1 for my DNS provider and yet I still get the never ending validation loop. I am on Google Fiber though, so I probably use 8.8.8.8 without explicitly meaning to. Perhaps this is a problem shared by both Cloudflare and Google's DNS proxies?

If you’re on iOS / Mac and have Apple private relay that would also use 1.1.1.1

Oh interesting, good to know. I don't use Apple private relay so that wouldn't be the problem for me.
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