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Secret Deals, Foreign Investments: The Rise of Trump’s Crypto Firm

nytimes.com

151–160 of 167 posts

Re: Secret Deals, Foreign Investments: The Rise of Trump’s Crypto Firm

#151
post #136

Earlier quoted context omitted.

>No government wants to enable money laundering, black markets, corruption and terrorism; or so I thought! what ever gave you that thought? There are countries that do this right out in the open. The rest of the countries do it in various shades of gray to not be right out in the open, but still visible for those that can see in higher bit depths of gray than black and white

You're not wrong, but your comment lacks so much necessary detail that I find it's just causing noise.

I mean, how much details do you need for this to be understood? Every tinpot dictator openly run black markets, are the definition of corrupt, while many openly operate or support terrorist organizations within their borders. Depending one looking at the US from the point of view of someone living in a country they have rained freedom down on for the past quarter century probably feels the same towards the US. Launching missiles from a remotely operated drone blowing up buildings while incurring civilian casualties definitely has the feeling of terrorism to me. They just hide it under the veil of defeating terrorism shades of gray.

I really feel like your comment was much more noisy than mine ever was.

Re: Secret Deals, Foreign Investments: The Rise of Trump’s Crypto Firm

#152

Earlier quoted context omitted.

> Many people disagree with the Covid response. I think that's fair, Covid was completely insane. Personally the part of the US response I disliked the most was the closing of schools. Like, in Ireland the pubs were closed for basically 2 years, but we kept the schools open for most of it, which I think was the right call. Difficult situation though, and the vaccine mandates were crazy (particularly given how ineffec…

> the vaccine mandates were crazy (particularly given how ineffective they were in preventing transmission) The data are known to show that the primary effect was in reducing the risk of hospitalization, severe disease, and mortality. Why, then should the lack of effect on transmission be the end-point that determines the appropriateness of mass immunization?

Because ordering people to take medical treatment is a big deal. If it reduces the hospitalisation rate then it's rational to take for oneself, but requiring it for a bunch of things was overkill.

And I say this as someone who thinks Biden was a pretty good President.

Re: Secret Deals, Foreign Investments: The Rise of Trump’s Crypto Firm

#153

Earlier quoted context omitted.

The fact that Bitcoin (and kin) turbocharges corruption, and its success is a direct result of doing so on a wide scale (the whole point is to undermine state power by dwpriving it of control over currency) is proof to the armchair economist Bitcoin supporters that it is "sound money" and things like facilitating a market for circulation of child porn at one end and open political grift at the other, are welcomed as…

Furious words and threats won't stop bitcoin. Neither will bans and prohibitions, unless you are willing to go full north korea with cameras everywhere and computers locked down. And you'll probably fail with that. You're beating your fists against an ocean. Touch some grass.

Of course you can. 20 years in prision for using Bitcoin. Not a lot of people would wanna risk that. And when 99,99% chooses to not touch it with a pole the value will collapse. Then a few people can sit there with Bitcoins that no one wants to buy from them.

Is it a good idea? Mayne not. But obviously one can crush Bitcoin if one wants.

Re: Secret Deals, Foreign Investments: The Rise of Trump’s Crypto Firm

#154

Earlier quoted context omitted.

Furious words and threats won't stop bitcoin. Neither will bans and prohibitions, unless you are willing to go full north korea with cameras everywhere and computers locked down. And you'll probably fail with that. You're beating your fists against an ocean. Touch some grass.

Of course you can. 20 years in prision for using Bitcoin. Not a lot of people would wanna risk that. And when 99,99% chooses to not touch it with a pole the value will collapse. Then a few people can sit there with Bitcoins that no one wants to buy from them. Is it a good idea? Mayne not. But obviously one can crush Bitcoin if one wants.

Except it's multinational. China declared bitcoin illegal in 2021 but it still seems to exist.

Re: Secret Deals, Foreign Investments: The Rise of Trump’s Crypto Firm

#155
post #141
post #138

I miss the days when new coins at least attempted to pretend they contain some sort of financial innovation. There was at least a possibility of something of substance there. Now it's all celebrity endorsement, hype and lies. And having the US prez jump on that bandwagon and ride it while in office is just mind-boggling.

Isn't this culture day to day centered on celebrity endorsements, hype and lies? Seems like what's happening is unsurprising. A nation of spectators, not citizens.

Fad intangible assets is pretty mind boggling to me. If you are thinking someone is the next Shakespeare while they are alive then you are probably going to be wrong and when you are right their coin should warrant a future value that is marginal compared to whatever the teeny bops actually prefer in a hundred years.

Re: Secret Deals, Foreign Investments: The Rise of Trump’s Crypto Firm

#156
post #77

Earlier quoted context omitted.

I would actually say that scams and financial crimes seem to be the only concrete use case of the technology at the moment. (Unless you count speculation/gambling).

I'm 99% against crypto and think it's mostly a tool for wasting limited human innovation capital, enabling fraud, terrorist financing, ponzi scheme gambling, and pump and dump rug pulling. There are a few areas where I find crypto interesting or useful: - The existing banking and payments industry is too Christian / Mormon. It extra-judicially regulates anything it views as "vices". This industry is supposed to be du…

>seems compatible with the existing FinCEN / FINRA / AML regulations

Barely. If $1m of crypto moves from one private wallet to another how do you know who's doing it or what the purpose is? Could be something legit, could be paying for drugs/terrorism - no definite way of knowing.

Re: Secret Deals, Foreign Investments: The Rise of Trump’s Crypto Firm

#157
post #156
post #77

Earlier quoted context omitted.

I'm 99% against crypto and think it's mostly a tool for wasting limited human innovation capital, enabling fraud, terrorist financing, ponzi scheme gambling, and pump and dump rug pulling. There are a few areas where I find crypto interesting or useful: - The existing banking and payments industry is too Christian / Mormon. It extra-judicially regulates anything it views as "vices". This industry is supposed to be du…

>seems compatible with the existing FinCEN / FINRA / AML regulations Barely. If $1m of crypto moves from one private wallet to another how do you know who's doing it or what the purpose is? Could be something legit, could be paying for drugs/terrorism - no definite way of knowing.

I was under the impression Circle with USDC was trying to be very FinCEN / AML compliant. That you had to agree to their terms to be able to use the token, that you couldn't transact off of a regulated exchange, and that they do plenty of KYC to know what's going on.

I might have the wrong assumptions?

Re: Secret Deals, Foreign Investments: The Rise of Trump’s Crypto Firm

#158
post #146

Earlier quoted context omitted.

Hunter Biden, as far as I know, didn't hold an official title within his father's administration. Jared Kushner, on the other hand, did hold an official title within Donald Trump's first administration. Hunter Biden, as far as the country has been made aware, never requested an TS-SCI clearance, as Jared Kushner did. Jared Kushner was given one via overrule from the 45th administration when the FBI and CIA said there…

Why can’t we just agree that both are really, really bad? The amount of mental gymnastics that each side does to justify such blatant corruption is astounding.

Except Hunter Biden’s crimes were relatively minor ones that were massively amplified and distorted by a political smear campaign. For example: https://www.bbc.com/news/articles/ckgnl7qdvjno.amp

Re: Secret Deals, Foreign Investments: The Rise of Trump’s Crypto Firm

#159
post #146

Earlier quoted context omitted.

Hunter Biden, as far as I know, didn't hold an official title within his father's administration. Jared Kushner, on the other hand, did hold an official title within Donald Trump's first administration. Hunter Biden, as far as the country has been made aware, never requested an TS-SCI clearance, as Jared Kushner did. Jared Kushner was given one via overrule from the 45th administration when the FBI and CIA said there…

Why can’t we just agree that both are really, really bad? The amount of mental gymnastics that each side does to justify such blatant corruption is astounding.

[deleted]

Re: Secret Deals, Foreign Investments: The Rise of Trump’s Crypto Firm

#160
post #138

I miss the days when new coins at least attempted to pretend they contain some sort of financial innovation. There was at least a possibility of something of substance there. Now it's all celebrity endorsement, hype and lies. And having the US prez jump on that bandwagon and ride it while in office is just mind-boggling.

> And having the US prez jump on that bandwagon and ride it while in office is just mind-boggling.

I'd suspect there will be a lot of room for "non-official acts" charges related to Trump's pump-and-dump crypto schemes after he leaves office.

And fewer politicians are going to have incentive to stick with him then.

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