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Basically, the "sanction preventions" Aave is instituting are for show only, in hopes they fool the regulators. They'll annoy and disturb the casual crypto trad
by hnthrow1010 4y ago
Basically, the "sanction preventions" Aave is instituting are for show only, in hopes they fool the regulators. They'll annoy and disturb the casual crypto trader but will do nothing to stop the big criminals from money laundering. I hope the developers of these defi lending protocols get hit with the criminal charges next.
- sneed-oil 4y agoDo you also believe artists should be punished if their works of art are used to launder money?
- hnthrow1010 4y agoWhen the "artists" have been openly and shamelessly stating, since around 2009, that the entire purpose of their "art" is to aid in laundering money and other crimes? Yes, absolutely.
- sneed-oil 4y agoDid the AAVE developers say that?
- hnthrow1010 4y agoIf they're smart, they wouldn't admit to it publicly. But do you not remember the early history of Bitcoin, and the Silk Road? Nothing's changed since then, except some people got arrested and some haven't yet.
- sneed-oil 4y agoWhat's wrong with buying and selling drugs?
- hnthrow1010 4y agoI really don't think you want to continue the discussion in the direction of "what's wrong crime A and crime B", that'll get off the rails very quickly.
- sneed-oil 4y agoDepending on the drug and the country it might not even be a crime
- robertlagrant 4y ago> openly and shamelessly stating, since around 2009, that the entire purpose of their "art" is to aid in laundering money and other crimes? Becomes > If they're smart, they wouldn't admit to it publicly. Let me guess. Your favourite castle is motte and bailey?
- hnthrow1010 4y ago>Your favourite castle is motte and bailey? Less of this, please. Obviously, not everyone into crypto and defi says those exact words. But there are enough saying that type of thing, where I think it's wrong of anyone involved with this to feign ignorance. They know what they're getting into.
- robertlagrant 4y agoYou might be embroiled in all the hype, but it's possible to just download an app and invest in some crypto. Lots of people will have just done that.
- IshKebab 4y agoWell yeah if the art is explicitly designed to make money laundering easy, of course!
- sneed-oil 4y agoIs AAVE explicitly designed to facilitate money laundering?
- hnthrow1010 4y agoBy association, yes. All cryptocurrency and "defi" ostensibly has that goal. What is it exactly you think they're trying to "decentralize"?
- sneed-oil 4y agoTransactions and storage of money. You could also argue that artists who sell their artworks for huge sums of money are associating themselves to money laundering.
- hnthrow1010 4y agoTransactions and storage of money are already decentralized, through the traditional finance system that connects at least thousands of banks and payment processors and other financial institutions. So it can't be that. >You could also argue that artists who sell their artworks for huge sums of money are associating themselves to money laundering. Yes, that's why transactions for those huge sums are subject to AML laws.
- sneed-oil 4y ago> Transactions and storage of money are already decentralized, through the traditional finance system That's not the case for every country on the planet > Yes, that's why transactions for those huge sums are subject to AML laws. And how do those prevent rich person A from paying rich person B (by buying a painting owned by B for an inflated price) for some illegal service?
- SparkyMcUnicorn 4y ago> I hope the developers of these defi lending protocols get hit with the criminal charges next. It's pretty crazy how all the arguments for freedom of speech (and software) go out the window for many people whenever cryptocurrency comes up.