Crypto, AVs, and AI. Is nothing sacred this week?
When money stops being cheap, people stop being lenient.
Never should have been that cheap to begin with, really.
Binance founder Changpeng Zhao agrees to step down, plead guilty
171–180 of 498 posts
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#172Earlier quoted context omitted.
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 fi…
Be mindful of potential biases. Monero is rightfully highly regarded for its privacy, but you may be overlooking certain aspects:
- Unlike Bitcoin, Monero's monetary issuance is not auditable, which could prove a major problem in case of an attack, potentially leading to inflation.
- Monero faces blockchain bloat issues due to its ring signatures. It cannot scale gracefully.
- Privacy and transaction cost concerns with Bitcoin have largely been addressed by Lightning and potentially other upcoming layer 2 solutions. A lot of work is being done here. If you are technologically inclined, you can also participate: https://lists.linuxfoundation.org/pipermail/lightning-dev/20...
- KYC happens on exchanges. Buy your BTC on decentralized platforms like Bisq or RoboSats and be done with KYC.
- A private-only ledger can pose challenges when transaction notarization is necessary. Bitcoin lets you choose between a private L2 transaction or a public blockchain transaction.
That said, I love Monero and am glad it exists.
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#173Earlier quoted context omitted.
For a purposeful human being, that is also a miserable life. Pretty much like you cannot eat your favorite food anymore and have to settle with "the next best" (philanthropy, maybe?)
Adam Neumann is still getting huge financing. There is always a way to keep hustling.
... for now. As interest rates stay above stupidly-low levels, he's not going to be able to pull the capital he used to.
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#174Happy to see this whole thing finally coming to an end, its a nice wrap to the dead market we've had for the past 2 years. I'm excited for 2024 in crypto!
The current crypto market activity has nothing to do with crypto news. The macro-economic state of the world is one where everything is going up.
More specifically now you can get actual real money by putting your savings in a bank account (and most people are struggling to pay the increased cost of living), there's less incentive to throw it away in a casino.
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#175Earlier quoted context omitted.
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 fi…
[deleted]
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#176Earlier quoted context omitted.
Uncensorable money across borders
This is a perfect use case for criminals and ransomware gangs which is certainly why crypto is popular for these groups. Especially for funding the North Korean regime. https://www.abc.net.au/news/2023-11-18/how-north-korea-makes...
You so realise that cash and gold are used by those groups as first choice?
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#177Incoming: 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.
[flagged]
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#178Earlier quoted context omitted.
What makes you think this is the end of anything?
The rumour about Binance indictment by DoJ has been going around for 1-2 years now. Its one of the last remaining pieces of major news that could have potentially negatively affected the industry. After two years of prosecutions, regulatory uncertainty and general poor market conditions, its only now starting to feel like there's light at the end of the tunnel.
Pay no attention to those stablecoins over in the corner.
The name implies they are stable, what more could anyone want?
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#179Earlier quoted context omitted.
What makes you think this is the end of anything?
The rumour about Binance indictment by DoJ has been going around for 1-2 years now. Its one of the last remaining pieces of major news that could have potentially negatively affected the industry. After two years of prosecutions, regulatory uncertainty and general poor market conditions, its only now starting to feel like there's light at the end of the tunnel.
Your optimism is fascinating & inspiring. Perhaps one day it would mature enough for GNU Taler and the like.
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#180Earlier quoted context omitted.
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.
FWIW The Soviet Union never stated that it was communist. They were officially socialist with the constitutional goal of establishing communism. for that matter the Mensheviks predate the Bolshaviks and always opposed Lenin.