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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

#211

Post by uxp8u61q »

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.

Can you explain in a few words how an NFT is different from a certificate stating you own a piece of land of the Moon?

Re: Binance US No Longer Allows USD Withdrawal for Users

#212

Post by tshaddox »

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."

Wasn't the same thing said about a lot of encryption techniques which are now widely used for non-criminal activity?

Re: Binance US No Longer Allows USD Withdrawal for Users

#213

Post by vitehozonage »

bparsons wrote: post #155
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.

The blockchain is a perfect tool of government surveillance. They can track the flows of money like never before, while most users think it is completely anonymous. It is the perfect weapon of state control. There has been hundreds of stories about how blockchain technology has been a boon to investigators trying to track drug, terrorism and illegal porn money flows. https://www.wsj.com/articles/bitcoin-blockchain-ha…

monero exists

Re: Binance US No Longer Allows USD Withdrawal for Users

#214

Post by SilasX »

demondemidi wrote: post #154

If all you have to do is convert to a stablecoin then convert to USD, isn't that the same thing? Or do you need to take your stablecoin somewhere else and convert that? I'm not a crypto guy. (obviously)

Yes, the latter. It’s an inconvenience in that you have to take the stablecoin to some other provider (incurring a blockchain transaction fee) and then sell/redeem it there. Which is annoying since conversion to USD is a core role of an exchange.

It would be like if you wanted to write checks on your bank account, and your bank helpfully told you that you could transfer money to an account at another bank and write checks on it there.

You still have access to the funds, you can still write checks, but … thanks for nothing.

Re: Binance US No Longer Allows USD Withdrawal for Users

#215

Post by orwin »

autokad wrote: post #146
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…

> Nearly 14 years in, where exactly is this “ton of real world utility”? That's not a helpful comment, and you aren't even correct. the web was around in the 80s, 70s ... no wait the 1960s. The number of years its been around is irrelevant to its current or future usefulness.

No. The web is NOT arpanet. This is an American-centric lie, like saying apple/Steve Jobs invented the mouse. The web was invented in Zurich by an English man in 89.

Saying arpanet is the web is like saying Minitel clients are personal computers. Yes, the underlying tech is basically the same, but the design and philosophy is different.

Re: Binance US No Longer Allows USD Withdrawal for Users

#216

Post by [deleted] »

vaxintar wrote: post #52
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…

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,…

[deleted]

Re: Binance US No Longer Allows USD Withdrawal for Users

#217

Post by JohnFen »

igsomething wrote: post #124
ru552 wrote: post #97

Earlier quoted context omitted.

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 is always the same debate in any cryptocurrency thread. People from economically free countries cannot understand cryptocurrencies because they are not meant for them and label them as scam. They cannot understand what 85% income tax is, authoritarian governments freezing (or emptying!) bank accounts for no reason, etc.

I disagree. I think people in economically free countries can and do understand this. But, as you point out, cryptocurrencies don't have a great deal of utility to people who don't have to interact with economically oppressed countries.

Re: Binance US No Longer Allows USD Withdrawal for Users

#218

Post by rightbyte »

latchkey wrote: post #197
UncleMeat wrote: post #61

Earlier quoted context omitted.

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."

> Crypto allows for the evasion of laws. Uber allowed anyone to drive without a taxi medallion. AirBnB allowed anyone to turn a home into a hotel. Amazon allowed anyone to buy a book online, without having to go to a book store. Not everything is about evasion of laws.

The first two examples were probably illegal (taxi laws, zoneing laws) but since big tech did it they weren't crushed and now it is de facto legal.

Re: Binance US No Longer Allows USD Withdrawal for Users

#220

Post by kadabra9 »

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…

Hey, someone bought a pizza with Bitcoin one time ! /s
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