5 ms·

Hmm, seems like this guy wouldn't get his $3,000 stolen if he got paid SPL USDC. The transaction would also cost less energy than it did through Stripe.

ceejayoz 4y ago
"Circle Confirms Freezing $100K in USDC at Law Enforcement's Request" https://www.coindesk.com/markets/2020/07/08/circle-confirms-freezing-100k-in-usdc-at-law-enforcements-request/ https://www.coindesk.com/markets/2020/07/08/circle-confirms-...
- polux33 4y ago
  Funny because you sound like a guy that could claim crypto is an unregulated far west full or scammers, while trying to prove that seizing 100K at law enforcement request is the same as randomly keeping 3K of your customers funds.
  - ceejayoz 4y ago
    You seem to think "we can freeze your funds" isn't an appealing feature to scammers, which is odd. https://www.circle.com/en/legal/usdc-terms https://www.circle.com/en/legal/usdc-terms > If Circle suspects or determines that you or any of your authorized users or customers, as applicable, have violated this these Terms, including, but not limited to, attempting to transact or transacting with Blocked Addresses (as defined in Section 13) or attempting to engage or engaging in Restricted Activities or Prohibited Transactions, and you have a Circle Account, then Circle may be forced to terminate your Circle Account and you may forfeit any USD funds otherwise eligible for redemption. The list of "Restricted Activities" this applies to is quite broad, including "provide false, inaccurate, or misleading information". The parent poster's claim this couldn't happen with USDC is readily proven false.
polux33 4y ago
Easiest bet to win. It's always the same arguments : fud or concepts from 2010s The ecosystem has vastly improved since
sofixa 4y ago
> The transaction would also cost less energy than it did through Stripe Citation very much required.
- anonymoushn 4y ago
  Oh no, I can't google things. https://solana.com/news/solanas-energy-use-report-march-2022 https://solana.com/news/solanas-energy-use-report-march-2022
  - sofixa 4y ago
    First, that's a random chain nobody cares about that recently had a massive controversy of them trying to steal a user's fake internet "money". Second, i don't trust their numbers - how could they possibly know what type of electricity is used by their validators? Third - even if we assume those numbers are true, I don't see a comparison with Stripe's per transaction CO2 emissions.
    - anonymoushn 4y ago
      > recently had a massive controversy of them trying to steal a user's fake internet "money". This is like saying that Ethereum stole from AnubisDAO contributors. > Second, i don't trust their numbers - how could they possibly know what type of electricity is used by their validators? I think most of the validators are hosted at Equinix through a deal negotiated by the Solana Foundation, but not all of them. > Third - even if we assume those numbers are true, I don't see a comparison with Stripe's per transaction CO2 emissions. If you can find any published numbers on this from Stripe (or any other Ruby shop) that would be great.
      - mynameisvlad 4y ago
        So how can you possibly say "The transaction would also cost less energy than it did through Stripe" if you have no idea how much energy a traditional transaction takes?

ceejayoz 4y ago

"Circle Confirms Freezing $100K in USDC at Law Enforcement's Request" https://www.coindesk.com/markets/2020/07/08/circle-confirms-freezing-100k-in-usdc-at-law-enforcements-request/ https://www.coindesk.com/markets/2020/07/08/circle-confirms-...

polux33 4y ago
Funny because you sound like a guy that could claim crypto is an unregulated far west full or scammers, while trying to prove that seizing 100K at law enforcement request is the same as randomly keeping 3K of your customers funds.
- ceejayoz 4y ago
  You seem to think "we can freeze your funds" isn't an appealing feature to scammers, which is odd. https://www.circle.com/en/legal/usdc-terms https://www.circle.com/en/legal/usdc-terms > If Circle suspects or determines that you or any of your authorized users or customers, as applicable, have violated this these Terms, including, but not limited to, attempting to transact or transacting with Blocked Addresses (as defined in Section 13) or attempting to engage or engaging in Restricted Activities or Prohibited Transactions, and you have a Circle Account, then Circle may be forced to terminate your Circle Account and you may forfeit any USD funds otherwise eligible for redemption. The list of "Restricted Activities" this applies to is quite broad, including "provide false, inaccurate, or misleading information". The parent poster's claim this couldn't happen with USDC is readily proven false.

polux33 4y ago

Easiest bet to win. It's always the same arguments : fud or concepts from 2010s The ecosystem has vastly improved since

sofixa 4y ago

> The transaction would also cost less energy than it did through Stripe Citation very much required.

anonymoushn 4y ago
Oh no, I can't google things. https://solana.com/news/solanas-energy-use-report-march-2022 https://solana.com/news/solanas-energy-use-report-march-2022
- sofixa 4y ago
  First, that's a random chain nobody cares about that recently had a massive controversy of them trying to steal a user's fake internet "money". Second, i don't trust their numbers - how could they possibly know what type of electricity is used by their validators? Third - even if we assume those numbers are true, I don't see a comparison with Stripe's per transaction CO2 emissions.
  - anonymoushn 4y ago
    > recently had a massive controversy of them trying to steal a user's fake internet "money". This is like saying that Ethereum stole from AnubisDAO contributors. > Second, i don't trust their numbers - how could they possibly know what type of electricity is used by their validators? I think most of the validators are hosted at Equinix through a deal negotiated by the Solana Foundation, but not all of them. > Third - even if we assume those numbers are true, I don't see a comparison with Stripe's per transaction CO2 emissions. If you can find any published numbers on this from Stripe (or any other Ruby shop) that would be great.
    - mynameisvlad 4y ago
      So how can you possibly say "The transaction would also cost less energy than it did through Stripe" if you have no idea how much energy a traditional transaction takes?