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The worst thing is the terrible incentives it's created by making it so easy for people to exploit free CPU capacity, and transfer money with no monitoring for
by nivenkos 4y ago
The worst thing is the terrible incentives it's created by making it so easy for people to exploit free CPU capacity, and transfer money with no monitoring for fraud or ability to reverse it.
So no-one can offer free/demo tier CPU access anymore e.g. on low-end box VMs, ISP shell servers, etc.
Likewise any sort of interaction with strangers get absolutely bombarded with fake accounts pushing crypto scams - second-hand sales, dating apps, meetups, pen pals, language exchanges, property listings, job boards, etc., there was always spam before but it was harder to directly monetise.
I hope it all gets banned soon. If we can ban Russia from SWIFT, we can do the same to all accounts that ever have transactions with known cryptocurrency exchanges, and refer their owners to the local tax authorities for auditing, etc.
- jjtheblunt 4y agoIsn’t the public ledger extreme monitoring, when a bit of correlating of addresses is layered on? I mean aren’t there even services used by law enforcement for such?
- nivenkos 4y agoBut many exchanges dodge KYC so you can't tie an address to a person necessarily.
- jjtheblunt 4y agoKYC is a legal requirement, so to your point i think you’re saying exchanges outside the law?