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> Bad guys: we are not your friends. There are various ways of surveilling blockchain transactions that are far more effective than KYC. Not only will we contin

by mbesto 6y ago

> Bad guys: we are not your friends. There are various ways of surveilling blockchain transactions that are far more effective than KYC. Not only will we continue to cooperate with authorities where required by law, but we actively collaborate with industry groups to monitor and root out sinister activity. We are here to protect good people, and as such, stand resolutely against evil. "Against evil"...now where have I heard that before... Translation: "We, a private corporation, get to determine what good and evil is. YMMV how/why you qualify for either or."

oh_sigh 6y ago
What's the alternative to every individual determining for themselves what they view as good and evil?
- mbesto 6y ago
  How is this an example of that? The company is explicitly saying that IT is determining who is a bad actor and who is not.
  - thomaszander 6y ago
    And the worst they can do is choose to not do business with them... Whereas you doing full KYC with most companies, who are by law also forced to determine who is a bad actor, doesn't scare you?
  - googlryas 6y ago
    A company is a collection of individuals. It wouldn't make sense to say an individual can determine X but 10 individuals voluntarily organizing together can't determine X.
    - mbesto 6y ago
      > A company is a collection of individuals. What's your point? Facebook is a collection of individuals, but if Zuck wants political ads barred from his platform he can snap his fingers and make it happen. Having individual private companies become the arbiters of justice for good/bad actors is not a sound resolution...especially when it comes to fraud/identify theft.
      - googlryas 6y ago
        In that case, individuals join a collective knowing that they are deferring their viewpoints to the shareholders. And the individuals are free to leave at any time if they feel their views aren't aligned with the company view. And what's the alternative? Who is the decision outsourced to if not the individual/company?
        mbesto 6y ago
        > Who is the decision outsourced to if not the individual/company? KYC is a regulation requirement, so then the government.
        oh_sigh 6y ago
        Fairly simplistic to argue that the government laws are the be all end all of discussions about good/evil. I can gaslight my spouse into insanity if I want completely legally. I guess that isn't evil since there is no law against it.

by mbesto 6y ago

oh_sigh 6y ago

What's the alternative to every individual determining for themselves what they view as good and evil?

mbesto 6y ago
How is this an example of that? The company is explicitly saying that IT is determining who is a bad actor and who is not.
- thomaszander 6y ago
  And the worst they can do is choose to not do business with them... Whereas you doing full KYC with most companies, who are by law also forced to determine who is a bad actor, doesn't scare you?
- googlryas 6y ago
  A company is a collection of individuals. It wouldn't make sense to say an individual can determine X but 10 individuals voluntarily organizing together can't determine X.
  - mbesto 6y ago
    > A company is a collection of individuals. What's your point? Facebook is a collection of individuals, but if Zuck wants political ads barred from his platform he can snap his fingers and make it happen. Having individual private companies become the arbiters of justice for good/bad actors is not a sound resolution...especially when it comes to fraud/identify theft.
    - googlryas 6y ago
      In that case, individuals join a collective knowing that they are deferring their viewpoints to the shareholders. And the individuals are free to leave at any time if they feel their views aren't aligned with the company view. And what's the alternative? Who is the decision outsourced to if not the individual/company?
      - mbesto 6y ago
        > Who is the decision outsourced to if not the individual/company? KYC is a regulation requirement, so then the government.
        oh_sigh 6y ago
        Fairly simplistic to argue that the government laws are the be all end all of discussions about good/evil. I can gaslight my spouse into insanity if I want completely legally. I guess that isn't evil since there is no law against it.