hnthrow1010

6 ms·

1.
by hnthrow1010 4y ago
>That's not the case for every country on the planet It's not helping there either. Countries where the economy is strictly controlled by the government, like North Korea, are mainly using crypto and defi to centralize even mo
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by hnthrow1010 4y ago
Transactions and storage of money are already decentralized, through the traditional finance system that connects at least thousands of banks and payment processors and other financial institutions. So it can't be that. >You could a
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by hnthrow1010 4y ago
>Your favourite castle is motte and bailey? Less of this, please. Obviously, not everyone into crypto and defi says those exact words. But there are enough saying that type of thing, where I think it's wrong of anyone involved with
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by hnthrow1010 4y ago
I really don't think you want to continue the discussion in the direction of "what's wrong crime A and crime B", that'll get off the rails very quickly.
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by hnthrow1010 4y ago
By association, yes. All cryptocurrency and "defi" ostensibly has that goal. What is it exactly you think they're trying to "decentralize"?
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by hnthrow1010 4y ago
If they're smart, they wouldn't admit to it publicly. But do you not remember the early history of Bitcoin, and the Silk Road? Nothing's changed since then, except some people got arrested and some haven't yet.
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by hnthrow1010 4y ago
When the "artists" have been openly and shamelessly stating, since around 2009, that the entire purpose of their "art" is to aid in laundering money and other crimes? Yes, absolutely.
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by hnthrow1010 4y ago
Basically, the "sanction preventions" Aave is instituting are for show only, in hopes they fool the regulators. They'll annoy and disturb the casual crypto trader but will do nothing to stop the big criminals from money laund
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by hnthrow1010 4y ago
Sorry but I try to avoid dumping huge amounts of information on people in every comment, that often doesn't go down well either if you can imagine. If you want more I'll elaborate. There is no possible way you can deploy this serv
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by hnthrow1010 4y ago
No, there are no other real applications for these mixers. The only reason you even need to do that on a public blockchain is because the design of them is so bad that there's no other practical way to have privacy without enabling lar
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by hnthrow1010 4y ago
Are you making software that has the explicit stated purpose of facilitating illegal money laundering, like these crypto mixers openly say they do? If not, then you don't have anything to worry about from these sanctions.
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by hnthrow1010 4y ago
>Exfiltrating money from foreign regimes, etc. Crypto isn't useful for that. The thing that's actually useful for that is the illegal, unregulated exchange that's making the trade. It doesn't matter what currency they
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by hnthrow1010 4y ago
If you ask me, they should all be shut down for selling unregistered securities, because all crypto tokens fit closest to that definition more than anything else. It's impossible for these tokens to actually function as a currency, bot
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by hnthrow1010 4y ago
>company that explicitly competes with According to some crypto promoters I've seen on Twitter, blockchain is apparently the solution to everything and will revolutionize every industry. By their definition, you'd be hard up to
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by hnthrow1010 4y ago
Ok, thanks. I get what you mean, but English language diffs can easily be falsified with a thesaurus :) A better analogy might be that every comment should be like a unique algorithm, or something along those lines.
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by hnthrow1010 4y ago
But for the average crypto investor who isn't a whale and isn't insider trading on the whales, the dynamics of the market are effectively just random. This isn't like a stock where you can objectively look at the company, com
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by hnthrow1010 4y ago
>I am quite hopeful that the ability for governments to extract wealth is limited greatly by the rise of crypto I described a situation where this wouldn't happen though. >If the government wants taxes they can do it by selling s
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by hnthrow1010 4y ago
Ok, you can think that, but there's still no explanation here as to why they can't do it. You should read some other comments further down in the thread, like this one: https://news.ycombinator.com/item?id=32292222
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by hnthrow1010 4y ago
That would be disastrous for anyone who has a debt to repay.
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by hnthrow1010 4y ago
I don't have time to listen to this podcast (I'll read a transcript if you have it) but just to respond to your comment: I've never seen the question of what happens after a society becomes "bottom-up crypto centric&quot
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by hnthrow1010 4y ago
I've never seen any reasonable explanation for that to be true. Crypto is very easy to censor, just ban the exchanges. Or if the government is really nasty, shut down the national internet. And if you think they could set up a satelli
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by hnthrow1010 4y ago
>You're so against people hoarding, i.e. saving money? The problem with this kind of system: It's not just about saving. What's actually happening is those who have saved more are accumulating even more money by doing noth
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by hnthrow1010 4y ago
But if you could pay them in USD or pesos, you would? Can't you see how the government would take an issue with that, the very same issue that they have with USD or pesos?
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by hnthrow1010 4y ago
That has nothing to do with bitcoin specifically though. What you're describing is either someone using another currency or using some kind of digital payment system. It doesn't have to be cryptos.
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by hnthrow1010 4y ago
>The internet did not have to overcome network effects in the same way that cryptocurrency has. This line of thinking is extremely dangerous, even moreso for something that's claiming to be a currency. This is the mentality that lea
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by hnthrow1010 4y ago
>If we relied on blockchain tech, it would've been processed in a day. Why? This is an unsubstantiated claim. Blockchains still have an outside body that you're required to trust, several in fact. The most prominent one is the
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by hnthrow1010 4y ago
Crypto isn't helping there, that's just another form of regulatory arbitrage. If you're exchanging the crypto for USD or pesos anyway then what you're doing is still probably illegal.
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by hnthrow1010 4y ago
I can't speak for the parent comment but I've had the same problem myself in discussing this. I would actually love to have to stop repeating myself, but the crypto CEOs keep also repeating the same marketing lines over and over a
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by hnthrow1010 4y ago
That seems obvious to me that they absolutely don't want crypto. If it's stablecoins they're after then what they really want is USD, so badly that they'll use whatever shady unregulated crypto bank sells it to them.
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by hnthrow1010 4y ago
>This might be an unpopular opinion, but I think that decentralized DNS, and decentralized naming in general, is one of the few use cases that can be neatly solved by a blockchain, but is extremely hard to solve any other way. It's

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