5 ms·
Oh, you mean KYC and AML? Turns out "math" doesn't make legislators and regulators go "oh, it's math? Ok, then I have no requirements". I've said it many time
by knorker 4y ago
Oh, you mean KYC and AML?
Turns out "math" doesn't make legislators and regulators go "oh, it's math? Ok, then I have no requirements".
I've said it many times before: Cryptocurrency and smart contracts just does not solve any of the hard problems in their space. It tries to solve some of the most simple problems in the whole domain, at a cost of making the hard problems even harder.
- redox99 4y agoYou don't need to use centralized exchanges. In fact you aren't even using crypto when you use centralized exchanges.
- strofcon 4y agoThis is... A bizarre take. Impressive how wrong you can be in just two sentences. Kudos! :-)
- redox99 4y agoWould you mind actually pointing out what I said is wrong, instead of just saying "You're wrong lol"?
- knorker 4y agoUnlike the other guy I agree with you, on both your sentences. But none of this contradicts what I said. Not using an exchange does mean it's harder to enforce, especially at scale, but "not getting caught" is not the same as "not committing a crime". And I have no sympathy for all the people e.g. trading crypto and then getting all surprised when they owe capital gains tax. They thought it was "just math" and that "math is law". Turns out math isn't law.