221–230 of 279 posts
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I thought the #1 use case for crypto was ransomware, followed by shitcoin rug-pulls, and the ability to commit theft without recourse. Sending money to Iran is just a minor edge case.
When I think about it, I know people that have been involved in all of those areas (always on the wrong non-criminal end). However, I'm not sure I know a single person that has made a regular transaction in some cryptocoin.
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Yes but we should be reminded that this also allows people to be protected from government overreach. If you say something the Chinese government does not agree with they can choose to take all your money and control of your company instantly. Not just oligarchs although those are the bigger targets due to the high value. Even a small business owner could THEORETICALLY have their assets and equity seized for saying s…
How is diversification unique to crypto? They could have bought us dollars or gold or a lot of other things even before Bitcoin. And the day that Trump decides to make Bitcoin illegal, its worldwide value still plummets. Besides which, crypto is not keeping anyone out of physical jail. China does not stop at seizing your bank accounts.
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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.
I don't see how a blockchain would help there. Put the house on the blockchain or what?
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> Every US company/citizen [...] if they bring it back to the US Is that relevant here? > Binance Holdings Ltd., branded Binance, [...] was founded in 2017 by Changpeng Zhao. Binance was initially based in China, then moved to Japan, subsequently left Japan for Malta, and currently has no official company headquarters. The founder seems to have been born in China and is Canadian. I still also don't understand if Iran…
"flowed from two Binance accounts to Iranian entities with links to terrorist groups, a possible violation of global sanctions."
Binance is not an American company and sending money to Iran or Palestine or Hamas is something should not be up to Americans to decide, i personally will not accept Americans be the police of the world they did so much horrible things and terrorising Muslims for so many years. I hope for the day the world will be decoupled from dollar as universal currency. That day countries will free to trade with each other witho…
Doesn't matter, tbh. Regardless of the philosophical viewpoint here (which I do agree with), AML and Bank Secrecy type laws exist basically everywhere, and are no joke. They're one of the few things that bank executives go to prison for.
And like, Binance were just convicted of this a few years back. I wouldn't be surprised if the US government tried to shut them down at this point. And if Binance are persona non grata to the US government then they're out of the dollar system which basically cuts them off from almost the entire banking system.
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…
I mean, I can meet you in an ally, transfer some satoshis from my wallet to yours, you hand me a wad of cash/jewels/MtG/collector funkos and you might not even know my name.
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I mean, I can meet you in an ally, transfer some satoshis from my wallet to yours, you hand me a wad of cash/jewels/MtG/collector funkos and you might not even know my name.
How do you avoid them just putting a bullet in you and just taking your cash without the Bitcoin though? It doesn't seem like a great option.
Crime is risky, but not pure anarchy. It is still based on trust and rules, just not those written in the law.
There are plenty of regular people who interact with criminals, for example drug dealers, without getting murdered or robbed of all the cash they are carrying.
In Argentina, years ago, you could exchange dollars/euros for pesos on the street and get a far better exchange rate than in a bank. It was obviously aimed at tourists, who didn't get robbed, or the whole enterprise would stop.
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!"