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He doesn't need to get it converted though. There are enough people that don't live in the US and would be happy to get paid in ETH to work on an open source pr

He doesn't need to get it converted though. There are enough people that don't live in the US and would be happy to get paid in ETH to work on an open source project. In a way, it seems almost like a feature that he can't just take out and convert the money :)

pavlov 4y ago
If the person who received the ETH is a US person, it may not be a great idea to use the tainted money to pay foreigners for services.
- prvit 4y ago
  By that logic US persons can't use Ethereum at all. If you withdraw ETH from Coinbase it is very likely that those coins will have passed through tornado.cash at some point. This logic obviously doesn't hold up to even the slightest scrutiny. There's too much American money invested in Ethereum for any government agency to even seriously consider the idea of destroying it like this.
  - aliqot 4y ago
    Hey now you're getting it
  - runako 4y ago
    > There's too much American money invested in Ethereum for any government agency to even seriously consider the idea of destroying it like this. The US government routinely spends enormous sums of money to destroy industries where significant amounts of American money is invested.
  - fennecfoxen 4y ago
    > By that logic US persons can't use Ethereum at all. Entirely possible. > There's too much American money invested in Ethereum for any government agency to even seriously consider the idea of destroying it like this. I think you underestimate!!
3pt14159 4y ago
The reality right now is that there are coloured coins by default. We said this would happen back like at least five years ago, and now it is finally here. This is only the start and is essentially the doom of the libertarian case for the blockchain, and once that is out the window I see very little use for it that a normal DB of cryptographic public keys couldn't handle.
- ls15 4y ago
  > The reality right now is that there are coloured coins by default. Not for fungible coins
  - withinboredom 4y ago
    Yet.
- danuker 4y ago
  There is still a diversification benefit, if you distrust the national currency, and use cryptocurrency similarly to gold. That has been my main (only?) use case.
jbirer 4y ago
They just have to come to Eastern Europe and trade it for cash OTC. Works very well here.

pavlov 4y ago

If the person who received the ETH is a US person, it may not be a great idea to use the tainted money to pay foreigners for services.

prvit 4y ago
By that logic US persons can't use Ethereum at all. If you withdraw ETH from Coinbase it is very likely that those coins will have passed through tornado.cash at some point. This logic obviously doesn't hold up to even the slightest scrutiny. There's too much American money invested in Ethereum for any government agency to even seriously consider the idea of destroying it like this.
- aliqot 4y ago
  Hey now you're getting it
- runako 4y ago
  > There's too much American money invested in Ethereum for any government agency to even seriously consider the idea of destroying it like this. The US government routinely spends enormous sums of money to destroy industries where significant amounts of American money is invested.
- fennecfoxen 4y ago
  > By that logic US persons can't use Ethereum at all. Entirely possible. > There's too much American money invested in Ethereum for any government agency to even seriously consider the idea of destroying it like this. I think you underestimate!!

3pt14159 4y ago

The reality right now is that there are coloured coins by default. We said this would happen back like at least five years ago, and now it is finally here. This is only the start and is essentially the doom of the libertarian case for the blockchain, and once that is out the window I see very little use for it that a normal DB of cryptographic public keys couldn't handle.

ls15 4y ago
> The reality right now is that there are coloured coins by default. Not for fungible coins
- withinboredom 4y ago
  Yet.
danuker 4y ago
There is still a diversification benefit, if you distrust the national currency, and use cryptocurrency similarly to gold. That has been my main (only?) use case.

jbirer 4y ago

They just have to come to Eastern Europe and trade it for cash OTC. Works very well here.