CEO of a top Bitcoin exchange warns: crackdown on cryptocurrencies may be coming

Post by [deleted] » Tue, Apr 13, 2021, 12:06 AM UTC

OGWhales wrote: post #254

drog wrote: post #221

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Why is this post so downvoted? It seems that antigovernment sentiment is not popular here It’s not only that but also all that “crypto is not technologically interesting and it’s just Ponzi scheme!”. There are so many interesting and unique things there. You can mix cryptography, finance, etc. into endless amount of protocols. Here is some interesting ideas in crypto: decentralized stable coin (dai), automatic market…

> Why is this post so downvoted? Oddly, HN is over all rather closed minded about cryptocurrencies/blockchain. I can understand being jaded at all the bitcoin maximalist out there that are frankly ignorant or even just being generally weary about the idea of such currencies... but it seems like the general sentiment is very negative in almost every thread with very minimal understanding of cryptocurrencies or frankly…

Post by hanniabu » Tue, Apr 13, 2021, 12:08 AM UTC

yladiz wrote: post #76

NaturalPhallacy wrote: post #59

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>At some point you need to convert your crypto gains back to fiat to actually use it Except you don't. It's a currency. Just because it's hot right now and people are treating it like an investment doesn't change the fact that it's a currency itself. You don't need to convert it to anything. It was literally built to be a currency free from bank/government control. That was the whole point. The sole criterion for the…

Okay, sure, let's consider it a currency for the sake of argument. I would posit that if I can't easily exchange my crypto into a form that I can use to pay taxes with, or buy groceries with, that it's a useless currency, and so people will be able to but won't want to accept it in a trade. Currencies aren't useful simply because they _can_ be traded, they're useful because they _can_ be trusted.

Post by iorrus » Tue, Apr 13, 2021, 12:13 AM UTC

mywittyname wrote: post #356

iorrus wrote: post #337

I think many underplay the real advantages of crypto assuming it’s all used for nefarious reasons, I use crypto quite frequently now, especially BCH (Bitcoin Cash), I can send this internationally for less than the cost PayPal changes for international payments. So why not use it, if the other person accepts it. In addition here is a real business (gpu.land) going only crypto as it provides better options: “I’m reach…

> In some cases Some might prefer to keep their bank from knowing exactly what theyre spending money on even tho it’s perfectly legal e.g. paying for porn, supporting a political dissident etc. Wait, wouldn't everyone who has your wallet id know what you spend your money on if you use crypto? It is a public ledger. I mean, you could go through the effort of trying to hide it by using various wallets, but that only ad…

Post by fma » Tue, Apr 13, 2021, 12:18 AM UTC

liquidise wrote: post #4

> U.S. Treasury Secretary Janet Yellen and other officials have warned about the use of cryptocurrencies for illicit transactions. Wait until you hear about cash. More seriously (and hopefully less reductionist) i feel nations who embrace cryptocurrencies early will see mixed results as the landscape matures. I am more confident that nations which turn their back on it, or shut it out completely, will see a loss of o…

Post by CuriousSkeptic » Tue, Apr 13, 2021, 12:30 AM UTC

tiborsaas wrote: post #293

kelnos wrote: post #109

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> Whatever your stance on cryptocurrencies are, what is of little dispute is the business opportunities they have created. Binance and Coinbase are large, successful companies. Poloniex was sold for ~400M. I find this argument a little weird, because I think we can all agree that bubbles and fad tech isn't really great for society as a whole. If you believe cryptocurrencies aren't a fad and actually provide useful be…

Blockchain tech is a next generation internet still in its early days. I don't think it will go away. What do you think these networks will look like in 20 years? It might be a negative for society now (I assume you are referring to the shady nature of using it as an alt currency), but it's precisely the tech you need to provide an alternative against Facebook or other walled gardens many people love to hate on here.…