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Binance fired employees who found $1.7B in crypto was sent to Iran

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191–200 of 279 posts

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#191

Earlier quoted context omitted.

There are a dozen better ways than Crypto to bribe politicians.

A Boeing. Straight cash. Naming anirports or other public spaces. The aforementioned shitcoin. What are the others?

There's a new one - let the president sue you and then settle for tens/hundreds of millions without a fight.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#192
post #6

Isn't this like the #1 use case for crypto? Everyone wants an untrackable unblockable currency that is out of government control until the day it is used for things they don't like, then suddenly "government please control this!"

Yes it's the #1 use case, in the same sense that the #1 use case of a free and open internet is criminal activity.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#193
post #45

Earlier quoted context omitted.

Copyright isn't being circumvented - the content of the website is made available for the public and the website just grabs what is publicly available.

Redistributing copyrighted content is the literal definition of copyright infringement. Using it for your own purposes, without distribution, is another story. This link was posted with intent to facilitate the distribution of copyrighted material. The person who posted it justified posting the link by saying some people don't have a subscription. I understand that some people think copyright shouldn't exist, but it…

If OpenAI doesn't need to respect copyright why should we?

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#194
post #18

Earlier quoted context omitted.

Only because in this case they used a centralized exchange. The amount of actual circulation to countries like Iran and North Korea is likely many orders of magnitude higher that what is knowable.

Bitcoin is traceable by design. That's how a public ledger works. It is merely pseudonymous. But it leaves complete public money trail. If your Bitcoin ever associate with your real identity, which they tend to do when you actually use them, your anonymity is gone. There is a reason why Monero exists.

The ledger is traceable, the coin is not. Not all transactions have to happen on the blockchain. In fact very few do.

If I put $80m worth of BTC in my hardware wallet and physically hand it to you in exchange for a truck full of black market rockets, who is going to trace it?

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#195
post #94

Contrary to a lot of comments here, the only way to use bitcoin (or any cryptocurrency) without tracking is to mine it yourself, and even then... Where did you get it? Purchased/transferred? Where did they get it? What else did the person with that wallet do? If the answer is "mined", even then, you have to actually do something with it, right? Buy something? Where is that something shipped? At worst you'll have to p…

It's great for transactions where moving a large amount of money would be impossible due to KYC laws and smuggling the cash even more so. As long as you can find someone willing to sell you bitcoin and someone else willing to accept it, you're still in business.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#196

Earlier quoted context omitted.

Could someone explain to me where the myth of "crypto = untrackable" comes from, and why it's still being perpetuated? Storing a record of every single transaction on a publicly accessible blockchain sounds trackable by design

In the case of bitcoin, surely. Some other coins not so much trackable, and that's the reason some countries don't like them: https://finance.yahoo.com/news/binance-delist-monero-zcash-4...

Also not true in the case of bitcoin. If I want to transfer money to you I don't have to do it on the chain. I can send you the private key of my wallet in whatever way I want and now you have the bitcoin, zero tracking.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#197
post #45

Earlier quoted context omitted.

Copyright isn't being circumvented - the content of the website is made available for the public and the website just grabs what is publicly available.

Redistributing copyrighted content is the literal definition of copyright infringement. Using it for your own purposes, without distribution, is another story. This link was posted with intent to facilitate the distribution of copyrighted material. The person who posted it justified posting the link by saying some people don't have a subscription. I understand that some people think copyright shouldn't exist, but it…

I think copyright should exist, but it only exists in that you can put a gate around it. The website makes the content available freely for the public, just use incognito mode or something or change your IP address and you get access to it.

If this was, for example, was only content behind a paywall that would make more sense to suggest there is a copyright violation here.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#198

Earlier quoted context omitted.

So the best part about being bribed with crypto is if one flees to another country to escape the law, one still has the aforementioned bribes. That plus some measure of anonymity.

Anonymity is the one thing cryptocurrency does not do well. It's much harder to sieze but much easier to trace.

Ethereum does it just fine

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#199
post #126

Earlier quoted context omitted.

There's a major distinction, however, in that it's a heck of a lot harder to safely and reliably lug briefcases or suitcases full of $100 bills from Chicago to Tehran, than it is to click and transfer some Bitcoin. Which is the whole point.

Yeah, crypto is a safer, more reliable alternative for many use cases, including those that are fundamentally honest. For instance, if you're an honest person trapped as a citizen in a despotic authoritarian state that doesn't respect your property rights, crypto may be the safest, most reliable alternative for storing and transferring your hard-earned savings.

Ironically, crypto has developed something significantly better for these use cases called stablecoin, which isn't really decentralized.

Re: Binance fired employees who found $1.7B in crypto was sent to Iran

#200

Earlier quoted context omitted.

Although it was originally intended to be cash it actually now is used as a "store of wealth" It allows people to build up wealth and be able to preserve it from government intervention and inflation. If you have stocks the ownerhsip and registration is controlled by a government and can be taken at any time from you. Look at china where if you have a large company and take a stand against the government all your equ…

This is not a common man's dream, but one of privilege and wealthy background. The oppressed masses don't need Bitcoin, they have no wealth to "memorize" and jetset around the world.

Look back in history and there have been many cases of poor people being pushed out of their homes, stripped of their valuable goods and forced to relocate, in that case it would apply to those who were not wealthy.
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