Ok, first off, let's take a step back here. We are discussing a solution to this unbanking problem, but you and I have gotten off into the weeds a little about hiding actual criminal activity. Bitcoin is not 100% private, but it did take 10 years and this guy inviting the police into his home where they found his physical bitcoin wallets in order for him to get caught. That only supports the point I'm making that Bit…
Nah, the real issue (which it shares with every other crypto project) is that it invented a kind of decentralized network that doesn't get better with more nodes but still manages to use more energy.
Of course, all later ones are funnier. People think Ethereum is a distributed computer! But the whole network runs at the speed of a single node.
If you want to trade numbers with people over the internet, I recommend using Google Sheets. Maybe ban people if they edit it wrong.
Find a lawyer who's willing to split the judgement 50/50. They only get paid once they win.
That only covers the incentive for the lawyer for one isolated case. But since such a lawyer will probably take many such cases (and often against the same banks), we must examine the incentives of such a lawyer more closely. The incentive of such a lawyer is to keep taking such cases, which means it is actually in the lawyer’s interest to deliberately lose some amount of such cases, in order to keep it profitable fo…
Lawyers aren't limited to isolated cases. Class actions exist for this exact reason and regularly lead to hundred million dollar+ payouts from banks and other large defendants for harm done to large groups of people.
I do wonder if the problem lies with the banks or with the amount of federal regulation that makes certain customers unattractive. I had a small business bank account, and one day I got a call from the bank asking to go through my transaction list and provide explanations for all the transactions. Fortunately they didn't close the account, but given the fact that it was costing them to investigate my account, it did…
I can't help but wonder if it's malicious compliance:
* no industry likes regulation (except as a weapon against competition)
* banks previously made billions helping criminals
* now the government says "stop helping criminals", so they invented a system that will inconvenience voters until the government gets off their case
> There is a solution - not sure if everyone's ready to hear it yet: Decentralized finance. I want the pendulum to swing the other way. Everybody gets and gets to keep forever an account at the Reserve Bank. > self-hosted Ethereum wallet I'm sorry. The technology might be fine But I simply do not trust the people involved with cryptocurrency. Not just the scammers such as SBF, I don't trust the "victims" to make wise…
I agree, to the point that it's getting harder for me to even have any sympathy when I hear about this issue. Anyone without a good portion of their net worth in crypto is making a huge and obvious mistake.
So you're admitting to having a self-interested stake in getting others to convert a portion of their net worth to crypto, no? Since getting others to buy in would directly provide liquidity to your own position. Tell me, what customer or financial protections are in place for your crypto position. Are there any? At all? Or if the drive holding that "good portion" disappears, then so do your assets, yes? Having a bank close my account sucks. A lot. The answer isn't to buy into an even more broken system built on the exploitation of those looking to buy into a get-rich scheme. The answer is to hold cash for times where your bank isn't available. Cash depreciates in value, sure, but at least it's not locked into a guaranteed deflationary spiral that ends with guaranteed marginal returns. At least my position in cash doesn't pit me in a game against people who bought in cheaper and stand to make exponentially more than I can, off my back even.
Well, this happened in 2017.. fast forward to this account closure effect on my life: I had to go back to my country, without a degree, was not able to land any job. Unfortunately, good places require degrees. Stayed unemployed, hit with chronic depression as anyone would. Lost 4+ years of professional progress. When covid came, i was able to complete my degree online and graduated in 2021, but because all fresh grad…
I think a lot of folks reading this will immediately be critical and tell you exactly how easy it would have been to solve your problems from spiraling out of control. They are likely largely factually correct. What is not being said is that many folks are operating at the limits of their executive function. Add something like this to an already stressful period of time to such people, and they simply will not be abl…
On the other hand, crypto provides copious evidence for the need of some level of regulation.
For conversations sake I'm curious about specific evidence. It's also fun to consider which country or group of countries would provide the regulations and enforcement.
Consumer protections. Until there are rigorous consumer protections, crypto is only fit for scams imo.
>>There are a lot of attempts to conflate "Palestinian === Hamas" if they did not want to be conflated than perhaps they should have accepted one of the 5 2 state solutions proposed by mutiple parties over the decades. Contrary to your claims I do not believe Palestinian's desire a 2 state solution in any form, instead they rejected every attempt by the UN, Britain, even the Saudi's then elected Hamas to be their off…
> Contrary to your claims I do not believe Palestinian's desire a 2 state solution in any form, instead they rejected every attempt by the UN, Britain, even the Saudi's then elected Hamas to be their official government when Israel pulled out of Gaza and allowed them to self govern... Why lie like this? The Saudi proposal you mention ( https://en.wikipedia.org/wiki/Arab_Peace_Initiative ) was accepted by Arafat, larg…
> 2002 above was the last concrete proposal.
2008 actually, when Palestinians were even offered East Jerusalem. I seriously doubt that they'll see such an offer ever again.