Are you suggesting that these people are not in jail?I'm not sure Qwerty News is an entirely reliable and balanced source.
Not sure what your point is here. Of course the brutal US justice system is going to mete out gross injustice against those it considers a threat to the system. I don't know about the first two, but I would wholeheartedly support the immediate release of Ross Ulbricht. I'd be surprised if anyone on here didn't.Its not that new - bitcoin has been around for well over a decade now.
The problem with regulation is who writes it and who enforces it.
- Alexey Pertsev is currently in jail awaiting extradition to the US because he wrote code that the US government later decided it didnt like.
- Virgil Griffith is in jail with a sentance of 5 years for teaching people that the US didnt like how to use bitcoin.
- Ross Ulbricht is in jail on a life sentance for allowing people to safely buy things that the US didnt like.
Though if you do go down the 'offshore route' a good rule of thumb is 'would a taxman quite like an all expenses paid 'holiday' at your dodgy dealing offshore office'. Avoid the clichés and 'invest'in wartorn shitholesNot sure what your point is here. Of course the brutal US justice system is going to mete out gross injustice against those it considers a threat to the system. I don't know about the first two, but I would wholeheartedly support the immediate release of Ross Ulbricht. I'd be surprised if anyone on here didn't.
But your own posts lay out clearly enough why most people most of the time in large parts of the world, including the whole of Europe, should opt for places with maximum government regulation when they are storing any money they have. It is possible for this fact to coexist with the fact that the same authorities are also capable of doing monstrous things. That's the continuous fight all of us have to establish/maintain a free society, a fight that is never over, that always has to be renewed, that always faces threats from the powerful.
I'll see your busted flush and raise you an Amazon gift card...and in other news....
Digital Marketplace
www.digitalmarketplace.service.gov.uk
If you dont like bitcoin, this is likely to be your alternative much sooner than you imagine.
Pick your path.
...and in other news....
Digital Marketplace
www.digitalmarketplace.service.gov.uk
If you dont like bitcoin, this is likely to be your alternative much sooner than you imagine.
Pick your path.
Yep loads of CBDC pliots either ongoing or about to kick in...Conspiracy theorists going to say WEF but first public call I found was Mark Carney at Jackson Hole few years back...inclined to believe global FIAT and the petro-dollar probably are a headache to peak oil AND global warming concerns
Alexey Pertsev was one of the developers of Tornado Cash, mixer on the ethereum chain. Tornado cash is the first piece of software ever to be put on a US sanctions list. Any US national using that code can now face 30 years jail (US nationals should use a fork instead). Pertsev was in Amsterdam when the code got sanctioned. The US immediately moved for his arrest and extradition.Not sure what your point is here. Of course the brutal US justice system is going to mete out gross injustice against those it considers a threat to the system. I don't know about the first two, but I would wholeheartedly support the immediate release of Ross Ulbricht. I'd be surprised if anyone on here didn't.
Fiat money yes, because you have no way of protecting that money except storing it under your mattress if the unscrupulous decide to scam you. I mean look at the number of people who have had bank accounts shut down overnight and then spend weeks and months trying to get access to it through the regulator. Without that regulator, who would have a chance against a global entity like HSBC or Barclays.But your own posts lay out clearly enough why most people most of the time in large parts of the world, including the whole of Europe, should opt for places with maximum government regulation when they are storing any money they have. It is possible for this fact to coexist with the fact that the same authorities are also capable of doing monstrous things.
I'm glad you recognise this, but regulation is not the way.That's the continuous fight all of us have to establish/maintain a free society, a fight that is never over, that always has to be renewed, that always faces threats from the powerful.
Alexey Pertsev was one of the developers of Tornado Cash, mixer on the ethereum chain. Tornado cash is the first piece of software ever to be put on a US sanctions list. Any US national using that code can now face 30 years jail (US nationals should use a fork instead). Pertsev was in Amsterdam when the code got sanctioned. The US immediately moved for his arrest and extradition.
Virgil Griffith gave a talk to a cryptocurrency conference in North Korea. The US arrested and charged him on his return, he took a plea deal.
Fiat money yes, because you have no way of protecting that money except storing it under your mattress if the unscrupulous decide to scam you. I mean look at the number of people who have had bank accounts shut down overnight and then spend weeks and months trying to get access to it through the regulator. Without that regulator, who would have a chance against a global entity like HSBC or Barclays.
Bitcoin is fundamentally different. It is really not difficult to properly secure bitcoin.
I'm glad you recognise this, but regulation is not the way.
SBF, the guy behind FTX, was super-keen on regulation. He was best friends with the regulators. He was writing the damn regulations.
Do you think he'd have been doing that if it put him out of business and into jail?
Regulations arent designed to protect you, they are designed to protect the system.
Varoufakis with a take that crypto will have its uses but not as money (NB// his opponent's not terribly interesting, you won't lose much by spinning past them):
The future of moneySo you think your crypto belongs to you? Think again - CityAM
Temple Melville looks into the complexities and grey areas surrounding staking and wallets provided by crypto exchanges.www.cityam.com
Yet another trap for the unweary
Once again showing that the only "safe" way of dealing with your cryptocurrency is to handle all of it yourself, the usual libertarian nonsense. "I don't need food safety laws when I can just test the food I buy myself", because apparently libertarians have an ideological problem with the idea of division of labour in a complex technological society.
What on earth is so complex about bitcoin that you are comparing it to food safety tests ffs!
Seriously some of the stuff on this thread just makes my head hurt, why do people see it as being some kind of complex thing.
My offer to send satoshis to anyone who downloads a lightning wallet still stands btw.
Want to get 100 sats and start practicing @NoXion ?
Because when they start out, most people earn in fiat, so they need a way to convert their fiat to crypto.If administering one's own cryptocurrency reserve is so easy, then why does anyone bother with the exchanges and other services in the first place?
Most people still keep some fiat in banks even when they are heavily into crypto. That will change tho and sooner than you think.It doesn't have to be all that complex in order to be a pain in the arse to manage. I could withdraw all of my money from my current account and stash it as cash in my house, it wouldn't be complicated to do that. But it would still be massively inconvenient in a number of other ways. Having money in the bank makes it a lot easier to deal with recurring bills or pay for a wider range of goods and services.
There are ways...steel backup, shamir secret sharing, social recovery, encryption in plain sight, glacier protocol.Plus I would have no protection if something were to go wrong. If I get robbed or my house burns down, that shit's gone.
I dont trust anyone more than I trust myself, I sure as hell dont trust fuckers like HSBC, Barclays, RBS etc more than I trust myself.Of course banks can and do collapse, but nowhere near as often as theft or fire in a domestic context. At least when it comes to real money, it makes a lot of sense to hold it with a trusted third party.
Convenience yes, but most exchanges are not insured. If it gets hacked/seized/compromised funds are gone.Presumably these crypto exchanges also provided conveniences to their users, plus peace of mind in the case that if their house is robbed or their personal devices compromised, their crypto is still safe.
The SEC/FCA dont hold any crypto, how are they going to protect depositors.If those people are naive and daft, then it's because they thought that crypto exchanges were as well regulated and protected as real banks, which they should be. Crypto may not be real money, but it's still a speculative commodity and thus falls under the purview of regulatory bodies such as the SEC and Financial Conduct Authority.
Wonder if you can pay for your ticket in Bitcoin?Any of you guys going to the Bitcoin festival in wales? Only 3-4k for a ticket. Proper bargain.
CowShed.
A gathering of 100 curious people from all over the world to discuss, debate and unpack what the future of blockchain is.www.cowshed.org.uk
Any of you guys going to the Bitcoin festival in wales? Only 3-4k for a ticket. Proper bargain.
CowShed.
A gathering of 100 curious people from all over the world to discuss, debate and unpack what the future of blockchain is.www.cowshed.org.uk