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I love how the crypto community encourages circumventing laws, UNTIL someone steals from them using their own “smart” contract then calls on authorities for hel
by jshen 5y ago
I love how the crypto community encourages circumventing laws, UNTIL someone steals from them using their own “smart” contract then calls on authorities for help.
- yellow_lead 5y agoIt wasn't stolen. Code is law. /s
- EGreg 5y agoTaxation is theft /s
- alexose 5y agoPiracy is stealing /s
- tester756 5y agoit kinda is.
- sadness3 5y agoLaw is buggy
- laserlight 5y agoYou forgot /s.
- pietrovismara 5y agoCan't trust the government to use my taxes well, I'd rather trust a handful of sociopathic individuals with an obsession for capital cumulation /s
- woah 5y agoHow does the crypto community encourage circumventing laws?
- cardosof 5y agoOf course every generalization is wrong but a not so little part of the crypto community seems very interested in avoiding taxation, money laundering and buying illegal stuff without detection.
- mikefallen 5y agoYou know whats used way more then crypto to buy illegal things and launder money? Cash
- TedDoesntTalk 5y agoYou can’t use cash to buy a kilo of XXXX from Sergei in Ukraine when you live in Chicago.
- basisword 5y agoYou can. It’s just more difficult. But you can use cash to buy a kilo of XXXX from someone in Chicago very easily.
- NicoJuicy 5y agoMaking it difficult is entirely the point.
- colinmhayes 5y agoI live in Chicago. I've bought plenty of drugs. Buying on the internet is much, much easier.
- jshen 5y agoYou are using the wrong denominator. You need to compare the percentage of cash transactions (or cash exchanged) for illegal activities compared to crypto.
- dogecoinbase 5y agoTo paraphrase Kim Stanley Robinson: "That's libertarians for you — anarchists who call the police to get their bitcoins back."
- CryptoPunk 5y agoThat is not an accurate generalization. Many in the crypto community do not advocate breaking laws. Instead they look for ways to interact that do not legally require complying with onerous regulatory burdens, like peer-to-peer monetary transfers, that do not as of yet have the same amount of totalitarian restriction placed upon them as monetary transfers that are intermediated by a trusted third party middle-man. As for the legitimacy of the law itself, and the opinion of the 'crypto community' on it: the distinction you're missing is that some laws prohibit victimless crimes, by infringing upon the freedom of contract, and always in the name of some supposed greater good, whether that's 'limiting systemic risk', 'protecting retail investors' or 'preventing money laundering', while others prohibit genuinely victimful crimes, where one party violates the rights of another. It can be entirely morally consistent to oppose the former while supporting the latter.
- Closi 5y agoI don't agree that placing regulations on the finance industry can be in any way equated to totalitarianism. In fact, we have already seen what happens when the financial industry is entirely deregulated multiple times worldwide.
- CryptoPunk 5y agoAny law is enforced under pain of imprisonment. See: https://www.theatlantic.com/politics/archive/2016/06/enforcing-the-law-is-inherently-violent/488828/ https://www.theatlantic.com/politics/archive/2016/06/enforci... When such laws are used to prohibit mutually voluntary interactions between consenting adults, I think it's a human rights violation, and it is an accurate adjective to use, whether it's the CCP doing it to "maintain social harmony and political stability", or the USG doing it to "limit systemic risks to the financial system". >>In fact, we have already seen what happens when the financial industry is entirely deregulated multiple times worldwide. That is a revisionist account put out by some of the most powerful special interests in the world, who benefit from rampant gatekeeping/centralization of private financial interaction.
- hardolaf 5y agoI'm in the financial industry and believe we need way more regulations than we currently have. And we need tougher and more rigorous enforcement of the existing regulations as well.
- wesleywt 5y agoCan someone explain to me why HN is so anti-crypto?
- cr3ative 5y agoHave you seen crypto?
- ramraj07 5y agoIt’s not that HN is anti crypto, it’s that most (if not all) smart people are. The only smart people that are pro crypto are ones trying to sell shovels in the gold rush (like Elon or Dorsey). It’s ironic you’re asking this question in a thread about news proving how stupid crypto is to begin with.
- bko 5y agohttps://www.reddit.com/r/iamverysmart/ https://www.reddit.com/r/iamverysmart/
- ramraj07 5y agoPost modernist retort kudos
- 7sidedmarble 5y ago> Post modernist retort kudos That's not what post modernism is
- wizzwizz4 5y agoThis is a post-modernist thread.
- joshxyz 5y agoquite a bold assumption most are smart here. most people here are experts on a subject matter or two but we should still take their stances on crypto (and other industries) with caution. maybe they dont just understand it at all, too. and its a lot, wrapping your head around all the defi fiasco alone is mentally challenging as hell, haha.
- bondarchuk 5y ago"The crypto community" is not one person.