Earlier quoted context omitted.
Binance is also accused of commingling funds.
Commingling is not losing or spending. I don't know why you used a "also" with a word that wasn't in the comment you responded to.
Binance founder Changpeng Zhao agrees to step down, plead guilty
421–430 of 498 posts
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#422Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#423Earlier quoted context omitted.
If BTC would always increase in value than it's doomed from the start as it means people starting late have to pay much more than an early person. This means rich late people will never migrate or buy BTC ETF ever. It's like always buying at the increase
That’s the definition of asset appreciation. This is comparable to buying gold 100 years back vs now, no one is complaining Gold is doomed because it was dirt cheap a century ago, not did gold lose its ability to retain value because it was getting expensive. Although the rate of growth won’t be this explosive for BTC in the future as it is now. Late adopting rich people might still get into BTC ETF for its ability t…
BTC is made 1 per 10 minute.
BTC is not gold
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#424Earlier quoted context omitted.
Utility? It already works. I've gotten paid for services via monero. I'd be very happy if Monero somehow turned into the stable coin of crypto. It could just hover around $150-$200 forever.
You can feed your dog dinner off a golden plate, but that doesn't mean the price of gold is driven by its utility .
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#425I'm absolutely astonished by this. He lives in the Middle East, which does not have any extradition treaties with America. Granted, he might transit a country that has a treaty, but I'm really shocked that he would give him. What did they have over him? Maybe it was China…
Just because a government doesn't have an extradition treaty doesn't mean they won't extradite. Most countries with non-extradition policies only apply them to native-born nationals and sometimes citizens in general. For some random foreigner, it depends entirely on the geopolitical situation.
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#426Earlier quoted context omitted.
Tether has been convicted of fraud.
If that meant anything the USDT to USD peg would collapse as it could no longer be redeemed for fiat.
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#427Earlier quoted context omitted.
That’s the definition of asset appreciation. This is comparable to buying gold 100 years back vs now, no one is complaining Gold is doomed because it was dirt cheap a century ago, not did gold lose its ability to retain value because it was getting expensive. Although the rate of growth won’t be this explosive for BTC in the future as it is now. Late adopting rich people might still get into BTC ETF for its ability t…
Gold is getting consumed and still mined. BTC is made 1 per 10 minute. BTC is not gold
But gold or any other precious metals for that matter still has a flaw of having unlimited supply. Yes the supply is limited on earth but we are only couple of decades far from mining asteroids like 16 Psyche.
Flood the market with gold, it will drastically lose its value and this will indeed help its consumption like manufacturing of electronics etc but gold as an asset would be pointless.
This cannot happen in BTC, which is programmed to have finite supply.
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#428Earlier quoted context omitted.
Pretty great example of Hacker News when the top comment is "They should have done more crime but in a different way."
Free and unrestrained insight into the ruthless and the sociopath minds is half the reason I come here.
Re: Binance founder Changpeng Zhao agrees to step down, plead guilty
#429Earlier quoted context omitted.
Just because a government doesn't have an extradition treaty doesn't mean they won't extradite. Most countries with non-extradition policies only apply them to native-born nationals and sometimes citizens in general. For some random foreigner, it depends entirely on the geopolitical situation.
Adolf Eichmann says hi.