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this is the least productive use of energy there was a time when IP blocking was enough to satisfy regulators but now they're basically saying there is nothing
by vmception 6y ago
this is the least productive use of energy
there was a time when IP blocking was enough to satisfy regulators but now they're basically saying there is nothing a company can do
one of the case studies in my ethics course during my Computer Science degree was about the regulators being satisfied with IP blocks and aware "determined" people could circumvent them due to the structure of the internet. that was a case 20 years ago.
now they're saying that's not good enough? you don't have to be particularly determined to use a VPN but the state can just give better guidance or be more collaborative instead of adversarial
- ForHackernews 6y ago> this is the least productive use of energy I agree! Proof-of-work cryptocurrencies are tremendously wasteful.
- vmception 6y agoThis is a discussion about the CFTC's use of public resources towards a completely offchain use case
- technocratius 6y agoThat was the joke
- daniellarusso 6y agoSo is streaming video.
- ForHackernews 6y agoDoes youtube use 100x as much energy if 2x more people watch videos? People really need to look into how bitcoin's Red Queen's Race works.
- daniellarusso 6y agoAre you asking me to compare degrees of waste?
- ForHackernews 6y agoYes. I'm asking you to do a little bit of reading and understand that there's a difference between a system that might be somewhat inefficient/wasteful/could be optimised and a system that is BY DESIGN deliberately inefficient, will keep getting MORE inefficient, and (again, by design) can NEVER be made more efficient. The entire basis of bitcoin is that each miner has to waste more and more energy because if you ever take your foot off the gas pedal, you run the risk of some other mining syndicate executing a 51% attack against you. No other computer system I'm aware of is designed to keep getting less efficient.
- imtringued 6y agoI derive tremendous value from the tremendous energy waste.
- yowlingcat 6y ago> there was a time when IP blocking was enough to satisfy regulators but now they're basically saying there is nothing a company can do Come on. KYC and AML laws are very well known and were put in place for a reason. When there are actual issues with regulation that could use reform and modernization, straw-manning negligence regarding the black and white parts that most of modern society unanimously agrees upon is always an odd tack.
- vmception 6y agoThis isn't about KYC and AML laws, this is about unregistered futures and swaps being merely accessible by US residents.
- yowlingcat 6y agoDon't be pedantic. It's /exactly/ about KYC. The spirit of preventing unregistered futures and swaps being "merely" inaccessible by US residents is to /prevent/ money laundering. That's the whole point of registering. Binance has a history of lax KYC [1]. For a global exchange to not risk blowing up means to gain affirmative proof of a user's legal identity, jurisdiction, tax residence. If you try and use an IP ban to loophole around having to add a robust KYC flow into your product, don't be surprised when a major governmental authority (and the general public) remain generally unconvinced that you did your best to be above ground. [1] https://cointelegraph.com/news/binance-sued-for-allegedly-facilitating-money-laundering-with-lax-kyc https://cointelegraph.com/news/binance-sued-for-allegedly-fa...
- cltby 6y ago> For a global exchange to not risk blowing up means to gain affirmative proof of a user's legal identity, jurisdiction, tax residence Financial stability is totally orthogonal to KYC. Exchanges that allow leveraged trading protect themselves via margin requirements.
- yowlingcat 6y ago
- BitwiseFool 6y agoI'm starting to assume malice rather than stupidity when it comes to the US Government and it's online regulations. I feel like this investigation will serve to push even more stringent requirements for US based KYC/AML and identity verification across all online trading platforms. Edit: Malice, in the sense that the United States can force its regulations on foreign entities without going through traditional diplomatic channels. I see this as a power-grab.
- deleted 6y ago[deleted]
- ecuaflo 6y agowow where did you go that taught tech ethics 20 years ago!? that's hard to find anywhere 20 years later, and even harder to find in that type of depth
- vmception 6y agoto clarify: the case we were studying at the time is now 20 years old but yes, was one of my favorite courses. It was basically acknowledging that we will continually be a few decades ahead of any legal framework so it gave us other frameworks to consider in our decision making process sorry that doesnt answer your main question
- xienze 6y ago> wow where did you go that taught tech ethics 20 years ago!? that's hard to find anywhere 20 years later Maybe it’s become rare now, I dunno, but I also took a computer ethics course at my state university about 20 years ago.
- downrightmike 6y ago2001 was about then, so you know other ethical things like worldcom and enron had happened.
- dan-robertson 6y agoI really don’t see why this is downvoted as I also thought it was the most interesting part of the parent comment. My understanding is that ethics courses for students of subjects like computer science are uncommon. Ethics courses for engineering are more common and for law or journalism very common (though the ethics taught for law and journalism is basically opposite). Towards the end of my degree, some faculty at the university made some attempts to create an ethics course for mathematics students that talked about some issues they might face in industry (popular careers were finance, tech or going to “work for the civil service”)
- bawolff 6y agoTbf, the level of determination needed to use a vpn is much less now than it was 20 years ago.