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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

#301

Post by tshaddox »

Arainach wrote: post #134
olalonde wrote: post #119

Earlier quoted context omitted.

"If you have nothing to hide you have nothing to fear." I'd say the ability to avoid penalties from "victimless" laws is beneficial, irrespective of the governing state.

Tax evasion is not a victimless crime.

It is, under any remotely common usage of the term. A victimless crime is one where the directly involved parties all consented to the action.

If you consider the government itself as a "directly-involved party" then you would consider no crime to be victimless, since it's always the government who prosecutes a crime.

If you invoke something like "society at large" as the victim, then again you can exclude any action from being a victimless crime if you happen to think society is worse off if that action happens (e.g. certain sexual acts between consenting adults, certain types of drug use, etc.).

Tax evasion, along with similar crimes like smuggling and insider trading, are widely listed as examples of victimless crimes.

Re: Binance US No Longer Allows USD Withdrawal for Users

#302

Post by latchkey »

JohnFen wrote: post #288
latchkey wrote: post #197

Earlier quoted context omitted.

> 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.

Uber was absolutely about the evasion of laws. They went out of their way to break the law and to avoid detection of their lawbreaking. It's the main reason why I will never use Uber.

By extension of the argument, does this mean you also won't use USD? Plenty of people and even governments use it to break laws too.

Re: Binance US No Longer Allows USD Withdrawal for Users

#303

Post by latchkey »

rightbyte wrote: post #218
latchkey wrote: post #197

Earlier quoted context omitted.

> 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.

"probably"... also ask yourself who lobbied the hardest to make those laws...

Re: Binance US No Longer Allows USD Withdrawal for Users

#306

Post by gamblor956 »

Pet_Ant wrote: post #88
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”? 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.

This is a gross misunderstanding of what property deeds record or how they are recorded. Property deeds record the real property owned, using geographical features and descriptors. It's irrelevant whether deeds are stored on paper or in a blockchain, because the method of storage doesn't do anything about the features/descriptors changing.

For example, if a river widens, or a tree is cut down, or plots shift because of an earthquake or ground settling, or if someone oversteps the boundaries of a plot...these are all situations covered by property insurance. The point is to make the homeowner whole for those situations where the deed as recorded (however it is recorded) no longer matches reality due to changes in the world.

Re: Binance US No Longer Allows USD Withdrawal for Users

#307

Post by latchkey »

OkayPhysicist wrote: post #299
latchkey wrote: post #197

Earlier quoted context omitted.

> 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.

Your first two examples were predicated on the evasion of laws, and the taxi example literally states what law it was evading.

Tax medallion's were created by the Taxi industry to regulate "cabs" and keep the grift going.

Using your own car as a way to give people rides, and get paid for it, fell into a grey zone because nobody had actually thought to do that before.

Let's also not forget that this is a global business with different "laws" all over the place.

Re: Binance US No Longer Allows USD Withdrawal for Users

#308

Post by FireBeyond »

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.

LOL. Uber literally had systems that would detect suspected LE usage and actively lie about rides.

AirBnB openly listed properties that it knew (NYC) were illegal and had been told so.

Re: Binance US No Longer Allows USD Withdrawal for Users

#309

Post by latchkey »

namaria wrote: post #292
latchkey wrote: post #197

Earlier quoted context omitted.

> 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.

Great examples. Heavily subsidized under-employment scheme, profiteering squeezing residential space out of communities where young people are paying upwards of half their income in rent and giant logistics sweatshops laying waste to local commerce.

"how it started / how it is going" analysis of what happened to some, not all, markets.
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