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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

#201

Post by Pet_Ant »

klodolph wrote: post #127
Pet_Ant wrote: post #88

Earlier quoted context omitted.

> Nearly 14 years in, where exactly is this “ton of real world utility”? I don't think cryptocurrency has much value, but I think block chain has lots of potential for trading things that have unique ids and are owned by many people. I paid $1500 for research on a title claim and my lawyer came back with "It's looks solid, but I'd get the title insurance just in case". If property deeds were on the block chain then i…

> If property deeds were on the block chain then it'd be trivial. True, but then a ton of other things would be much, much more difficult. Like, what happens if Joe has the deed to a home, but then Joe dies, and nobody has the key to his wallet? If you have some kind of way, on the blockchain, to solve this problem, and reassign the property without Joe’s private key, then what you have is a situation where human dec…

> If you have some kind of way, on the blockchain, to solve this problem, and reassign the property without Joe’s private key, then what you have is a situation where human decisions take priority over cryptographic guarantees.

I have thought about this and it's solveable. Physical goods have to have some sort of "sanctioned violence" to enforce, so there is always a government. They have a public key that is known and publish updates. So if something gets legally confiscated, there is a message published by the government that amends the chain. "The owner of X is now Y".

> I don’t see what advantage blockchain has here.

Because it unifies ownership under a central mechanism and you don't need to wait in line at a government office. You have an API and a log. It doesn't really need to be distributed just public I guess, but having the ability to have a private copy for reference would be a benefit.

Re: Binance US No Longer Allows USD Withdrawal for Users

#202

Post by ForkMeOnTinder »

onlyrealcuzzo wrote: post #33
anon1199022 wrote: post #22

Earlier quoted context omitted.

Arpanet started at 1969 and it was not immediately labed with certain groups as a scam, like here for years. That literally blocks the perception. So 2007-1969 is 38 years and not 14.

Are you claiming that in 1983 - it was mainstream even in the investment world that the only usage of the Internet was fraud and crime?

Are you claiming the investment world believes that about bitcoin today? Maybe dig a little deeper. Not everyone gets their info from mad money.

https://www.fidelitydigitalassets.com/sites/default/files/do...

Re: Binance US No Longer Allows USD Withdrawal for Users

#203

Post by [deleted] »

brvsft wrote: post #162
Arainach wrote: post #152

Earlier quoted context omitted.

If you don't like the law, lobby politicians to change it. You don't get to decide that speed limits are stupid and go 100. You don't get to decide that taxes are stupid and not pay them. You don't get to decide that rules against murder are stupid and ignore them.

Wait, why didn't you use these examples: > You don't get to decide what to put into your body and smoke weed. You don't get to make a choice about your pregnancy and have an abortion. You don't get to not be a chattel slave in 1840.

[deleted]

Re: Binance US No Longer Allows USD Withdrawal for Users

#204

Post by oh_sigh »

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.

It can't be debased by a crackpot dictator but it can be debased by the crackpot market. If you "stored value" from 2021 in BTC, you'd only have about half of that value right now. Granted, if you "stored value" from 10 months ago, you'd have 50% more than you put in.

But, I think those big swings make it a poor instrument for most people to view it as a real way to store value.

Re: Binance US No Longer Allows USD Withdrawal for Users

#205

Post by afpx »

llm_nerd wrote: post #149

Every bit of evidence is that the crypto boom has crashed to Earth. In tech it is basically a dirty word now and is overwhelmingly associated with the worst products, the worst teams and the worst get rich and quick sorts. In the rest of the market it has made little to no impact. Yet somehow BTC is still trading at close to historic highs. Now to be fair the market cap of all of BTC is 1/4 Apple, but if it were remo…

I know enough people now that have lost significant money through crypto scams that it's tainted its appeal to me.

As for the price of BTC - it's deflationary and its holders only have incentive to buy and hold as long as they can while they hype it to the world - it'll never go down in price until the majority of holders have to sell.

Re: Binance US No Longer Allows USD Withdrawal for Users

#207

Post by rprospero »

ForkMeOnTinder wrote: post #181
rprospero wrote: post #145

Earlier quoted context omitted.

As someone who has been regularly transferring money between the US and UK for nearly a decade, using standard banking means has always been faster and cheaper for me than any of the crypto solutions that I've been presented.

Do you believe your own personal experience with those two English-speaking countries can be extrapolated to every other country in the world?

No, I've worked in enough countries to know that my experience cannot be extrapolated to the remainder. I'd love to hear your experience and how this did work out for you.

Re: Binance US No Longer Allows USD Withdrawal for Users

#208

Post by 5350-uiop-1130 »

llm_nerd wrote: post #149

Every bit of evidence is that the crypto boom has crashed to Earth. In tech it is basically a dirty word now and is overwhelmingly associated with the worst products, the worst teams and the worst get rich and quick sorts. In the rest of the market it has made little to no impact. Yet somehow BTC is still trading at close to historic highs. Now to be fair the market cap of all of BTC is 1/4 Apple, but if it were remo…

BTC went from like 3-4k covid lows to 69k. BTC is a symptom of clown world economics money printing.

investing in BTC is a bet that people in power of money will continue to act in their own selfish interest. it's a bet on clown world continuity. i love that.

i think it has utility but is there good reason for it to be $30k and not $1k outside of money printing...i doubt it.

Re: Binance US No Longer Allows USD Withdrawal for Users

#209

Post by Eggpants »

burnte wrote: post #21
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…

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 the data structure is what Git is based on. However, it’s hashing function is optimized for speed/min collisions.

Re: Binance US No Longer Allows USD Withdrawal for Users

#210

Post by throwawayrupl »

Arainach wrote: post #177
throwawayrupl wrote: post #89

Earlier quoted context omitted.

Yes, I do. I'm originally from a bad country (Russia) but right now live in a good country (Poland). I still do some work in the bad country and USDT is basically the only inexpensive, easy, and fast way to transfer money from the bad country to the good country.

So the big use case of crypto is evading and violating international sanctions?

I don't violate any sanctions by sending my personal income from Russia to Poland. And it's still possible to send Swift from Russian bank to Polish bank. But it takes a lot of time to arrive and commissions are ridiculous.
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