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Binance US No Longer Allows USD Withdrawal for Users

thenewscrypto.com

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Re: Binance US No Longer Allows USD Withdrawal for Users

#111

Post by pnpnp »

sydbarrett74 wrote: post #98
pnpnp wrote: post #55

Earlier quoted context omitted.

> So everyone you interact with knows where you work, how much you earn, what you own, where's your house, what you buy, what groups you belong to... and they can keep tracking you forever if you tell them who you are just once. Granted public blockchain is a lot more discoverable, but a lot of this already is public. Property ownership is public (at least in the US), credit cards sell your data, facebook knows which…

Blockchain is a solution in search of a problem. Conventional technologies can do the same thing with far less overhead. The issue is that they're 'conventional' and not 'new/shiny/sexy'. New doesn't always mean better, and it's often objectively and demonstrably worse than what preceded it.

I'm not defending blockchain, just pointing out that part of the example wasn't really a good one. Property ownership being something that's already completely public.

I have a public map overlay on my phone that gives me deed information for (AFAIK) every parcel I can see in the USA.

Re: Binance US No Longer Allows USD Withdrawal for Users

#112

Post by josefresco »

spuz wrote: post #81
josefresco wrote: post #51

This (USD withdrawal) has been disabled in the app for US users for a while now. I have like $15 there (in BNB) and check it once-in-a-while just for curiosity.

How long is a while?

A few months? I can't say for sure.

Re: Binance US No Longer Allows USD Withdrawal for Users

#113

Post by Matticus_Rex »

alasdair_ wrote: post #40
charcircuit wrote: post #17

Earlier quoted context omitted.

NFTs. It's like Steam's marketplace, but without having to have one company have control to ban anyone. It lets you safely make trades without having to pass your items to sites for them to hold on to your items for you.

Why can't the host of the image just delete the image? At that point, the NFT is effectively banned. Also, something like OpenSea can block you and you're effectively banned for all practical purposes.

> Why can't the host of the image just delete the image?

If it's a blockchain, there's no single host who can do that.

Re: Binance US No Longer Allows USD Withdrawal for Users

#114

Post by lyjia »

garba_dlm wrote: post #104
burnte wrote: post #21

Earlier quoted context omitted.

Blockchain tech isn't 14 years old, it's 30 years old, or even 40 if you want to go back to the '82 paper. Still no world-changing tech has come from it, aside from monopoly money.

> Blockchain tech isn't 14 years old, it's 30 years old, or even 40 if you want to go back to the '82 paper. Still no world-changing tech has come from it, aside from monopoly money. that's like saying that submarines were invented when Jules Verne wrote about them (i.e. you're wrong) blockchain technology requires the internet, hence it cannot be older than the internet

What? No it doesn't. I can download the text from each comment here to put it offline and in a blockchain. All blockchain is is a datastructure, nothing more.

Re: Binance US No Longer Allows USD Withdrawal for Users

#115

Post by ProjectArcturis »

ru552 wrote: post #97
stouset wrote: post #6

Earlier quoted context omitted.

Nearly 14 years in, where exactly is this “ton of real world utility”? Surely someone somewhere would have a product providing this utility, even amidst the sea of fraud and grift. I still don’t see it. Some utility? Okay, sure. A ton? Not even close. Consider that the web launched in 1993. By 2007 (14 years later), virtually the entire planet had changed dramatically as a result. That is a technology with a ton of r…

While it may be hard to see in first world countries, imagine being in a third world country and having a place you can store value that can't be debased by your crackpot dictator. That's huge.

Why hasn't it been adopted in those places then?

Re: Binance US No Longer Allows USD Withdrawal for Users

#116

Post by usea »

charcircuit wrote: post #17
stouset wrote: post #6

Earlier quoted context omitted.

Nearly 14 years in, where exactly is this “ton of real world utility”? Surely someone somewhere would have a product providing this utility, even amidst the sea of fraud and grift. I still don’t see it. Some utility? Okay, sure. A ton? Not even close. Consider that the web launched in 1993. By 2007 (14 years later), virtually the entire planet had changed dramatically as a result. That is a technology with a ton of r…

NFTs. It's like Steam's marketplace, but without having to have one company have control to ban anyone. It lets you safely make trades without having to pass your items to sites for them to hold on to your items for you.

You can buy and sell digital assets without cryptocurrency. Also, the blockchain is not authoritative over ownership of those assets. Good old fashioned contracts are what enable transfer of digital assets. Crypto is just a terrible payments system on top.

Re: Binance US No Longer Allows USD Withdrawal for Users

#117

Post by ghaff »

Aunche wrote: post #82
burnte wrote: post #21

Earlier quoted context omitted.

Blockchain tech isn't 14 years old, it's 30 years old, or even 40 if you want to go back to the '82 paper. Still no world-changing tech has come from it, aside from monopoly money.

The blockchain as described in 1982 is a perfectly good niche data structure. Maybe it's not "world-changing," but it's useful enough for our team to use it at work.

Private blockchain implementations exist--including fairly large ones. But it's fair to say that it hasn't had the impact a lot of people thought it would.

Re: Binance US No Longer Allows USD Withdrawal for Users

#118

Post by vaxintar »

sydbarrett74 wrote: post #69
vaxintar wrote: post #52

Earlier quoted context omitted.

Thanks to Ethereum (and specially now that there are L2s which have cheaper tx costs) I can distribute revenue from my business between different types of collaborators, without incurring in paying 120% in taxes for having "employees". In Argentina if someone works for you more than 15/20 hours in a given month you are legally obliged to hire them for, at least, 3 months. The legislation doesn't fit in tons of cases,…

You're engaging in tax evasion by misclassifying employees as IC's. Call it whatever you want, the essence doesn't change.

Tax evasion for a business that makes less than 5k usd a year in reveneu?

If you think that's a crime you are delusional about the uses of money.

Crypto allow me to create a structure where people can work in an animal health control for rural parts of the Patagonia (which is around 2000000 squared kilometers, five times the size of Germany and has 1/80 its population) and provide this kind of services for free in many cases.

I can now quit/leave/die and anyone can take my place to coordinate it in the same immutable structure.

And the best part? The state can track all the transactions if they really want it. But I'm sure no one is going to work to find out how six veterinarians got 125 USDC in their digital wallets in July 2023.

Re: Binance US No Longer Allows USD Withdrawal for Users

#119

Post by olalonde »

UncleMeat wrote: post #61
vaxintar wrote: post #52

Earlier quoted context omitted.

Thanks to Ethereum (and specially now that there are L2s which have cheaper tx costs) I can distribute revenue from my business between different types of collaborators, without incurring in paying 120% in taxes for having "employees". In Argentina if someone works for you more than 15/20 hours in a given month you are legally obliged to hire them for, at least, 3 months. The legislation doesn't fit in tons of cases,…

This really is the key thing. Crypto allows for the evasion of laws. That's its key contribution. In authoritarian states this is probably a net good. In the rest of the world this is a harm. "The killer app for this technology is crime."

"If you have nothing to hide you have nothing to fear."

I'd say the ability to avoid penalties from "victimless" laws is beneficial, irrespective of the governing state.

Re: Binance US No Longer Allows USD Withdrawal for Users

#120

Post by tshaddox »

stouset wrote: post #6
sickofparadox wrote: post #3

Cryptocurrency was (and still is to an extent) a really interesting idea that has a ton of real world utility, especially as government surveillance continues its march towards panopticon. It's a shame that the "get rich quick" grifters and speculators took ahold of it and have killed any chance of normal people adopting it as a regular form of payment.

Nearly 14 years in, where exactly is this “ton of real world utility”? Surely someone somewhere would have a product providing this utility, even amidst the sea of fraud and grift. I still don’t see it. Some utility? Okay, sure. A ton? Not even close. Consider that the web launched in 1993. By 2007 (14 years later), virtually the entire planet had changed dramatically as a result. That is a technology with a ton of r…

It strikes me as a bit silly to set the bar at the World Wide Web, which is easily one of the most transformative fast-moving technologies in human history.
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