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

nytimes.com

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

#271

Post by guywithahat »

wat10000 wrote: post #252
guywithahat wrote: post #251

Earlier quoted context omitted.

I'm talking about political prosecutions, not extremely wealthy people.

I understand that, but I'm talking about the intersection of both. When an extremely wealthy person is subjected to a "political prosecution," that usually means they're guilty as hell, it's a serious crime, and it's just one that other extremely wealthy people got away with.

Again, my comment was just about political prosecution, I think you should reread my first response.

That said, I don't think your logic carries. Extremely wealthy people are often the targets of political prosecution because they're wealthy. Being wealthy makes you a target, it doesn't provide protection

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

#272

Post by wat10000 »

guywithahat wrote: post #271
wat10000 wrote: post #252

Earlier quoted context omitted.

I understand that, but I'm talking about the intersection of both. When an extremely wealthy person is subjected to a "political prosecution," that usually means they're guilty as hell, it's a serious crime, and it's just one that other extremely wealthy people got away with.

Again, my comment was just about political prosecution, I think you should reread my first response. That said, I don't think your logic carries. Extremely wealthy people are often the targets of political prosecution because they're wealthy. Being wealthy makes you a target, it doesn't provide protection

It was about a specific political prosecution of a specific person, who is extremely wealthy.

Which wealthy people have been subject to political prosecution in the US that wasn't just a case where the person was totally guilty and deserved to be prosecuted, and it's "political" just because other rich people didn't get prosecuted for it?

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

#273

Post by eucyclos »

greesil wrote: post #198
eucyclos wrote: post #158

Earlier quoted context omitted.

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

Maybe I should have said naturally rather than well. It's true that if privacy is your focus you can implement a Blockchain that achieves it, but at it's core Blockchain is a ledger of transactions that anyone can audit- privacy is not a natural outcome of that technology.

Which IMHO is a positive - no private transactions means corruption gets much harder, and that's always been a core selling point of the technology to me.

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

#274

Post by Shocka1 »

VirusNewbie wrote: post #264
Shocka1 wrote: post #247

Earlier quoted context omitted.

Curious though, if escrow company gets subpoenaed and is a legit business, would they not be inclined to reveal the customer they interacted with?

Because they open and close all the time. I've dealt with escrow companies where the owners had opened and closed multiple other escrow companies in a ten year span.

Thanks fro the response, that is really interesting. Is there a paper trail if they were to be investigated?

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

#275

Post by Shocka1 »

himata4113 wrote: post #261
Shocka1 wrote: post #247

Earlier quoted context omitted.

Curious though, if escrow company gets subpoenaed and is a legit business, would they not be inclined to reveal the customer they interacted with?

not every country has a concept of "subpoenaed" especially if it comes from the US veil.

That's fair - I suppose I should have mentioned just the US in my original comment.

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

#276

Post by greesil »

eucyclos wrote: post #273
greesil wrote: post #198

Earlier quoted context omitted.

Ethereum does it just fine

Maybe I should have said naturally rather than well. It's true that if privacy is your focus you can implement a Blockchain that achieves it, but at it's core Blockchain is a ledger of transactions that anyone can audit- privacy is not a natural outcome of that technology. Which IMHO is a positive - no private transactions means corruption gets much harder, and that's always been a core selling point of the technolog…

Tell me the US president's wallet address and how many payments have been in received. Try.

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

#277

Post by Haven880 »

lacoolj wrote: 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…

Originally there is mixer parties. That was taken down massively in the covid years. That is the one that can trackless. Currently the only one that near impossible to track is Monero. But that is actively suppress worldwide. You rarely heard it and any YTber promoting it, usually algo suppressed. Now crypto are even more trackable than bank transfer. I guess cash and maybe diamonds is still king.

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

#278

Post by SergeAx »

chihuahua wrote: post #35
paxys wrote: 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!"

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.

You were getting it wrong all this time. The #1 use case for crypto is buying illegal stuff. Mostly drugs, but also weapons and child pornography.

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

#279

Post by wpietri »

carshodev wrote: post #111
wpietri wrote: post #70

Earlier quoted context omitted.

It seems entirely accurate to me, at least in a POSIWID sense. The original theory of Bitcoin was, as described in the paper, decentralized digital cash. But in practice it was never optimized for what normal people use cash for. As system like that would be something like M-PESA. Even at the time, cash was declining in usage. In the 18 years since, it has declined a lot more. And for good reason, because what most p…

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…

> Although it was originally intended to be cash it actually now is used as a "store of wealth"

It's also terrible at that. Bitcoin is down by something like half off its peak. The odds of me losing money to "government intervention" if I'm not actively criming, are quite low. Certainly well under 50%.

> Bitcoin works because you can technically have your wealth memorized.

If you are having to reach for increasingly absurd fantasy scenarios to justify something that was supposed to have thoroughly quotidian users, maybe you should take that as a sign?

> because you have ideas which they do not agree with

Oh, that's who's using bitcoin the most? Philosophers and the like? I had no idea.

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