3 ms·

Good. We need all crypto executives to begin sizing up jumpsuits for their role in creating unregulated crypto companies that do nothing other than scam people

Good. We need all crypto executives to begin sizing up jumpsuits for their role in creating unregulated crypto companies that do nothing other than scam people. The wheels of justice turn slowly, but they still grind these scammers into jail. This is just the start.

TwoFactor 3y ago
It is not true that all crypto companies are scams, and especially not true that all crypto executives belong in jail.
- phone8675309 3y ago
  What actual, not theoretical, uses of crypto, aside from unregulated speculation, do you believe are non-scam uses?
  - meepmorp 3y ago
    Buying drugs from the internet. Or are the kids not doing that anymore?
    - phone8675309 3y ago
      You don’t need crypto for this - I’ve got a friend that pays his plug on Venmo or CashApp just fine
  - mufti_menk 3y ago
    Having something you can transact with and store value that isn't completely vulnerable to your government's monetary and foreign policy/capital controls
    - knorker 3y ago
      So... Crime? You're describing "isn't touchable by laws". Which means crime.
  - simple-thoughts 3y ago
    Games, collectibles, lending, money markets, exclusive virtual clubs, international payments, trading are just a selection of activities I’ve personally engaged in on chain in ways I could not have off chain. Also whether or not you like speculation, many people do and it’s not a crime.
    - FabHK 3y ago
      I’ve done all of the above off chain; sorry to hear that you couldn’t.
Animats 3y ago
Yes. So far, just for August: "August 10, 2023 -- Bittrex settles with SEC for $24 million" "August 7, 2023 -- Bitsonic CEO arrested for allegedly stealing $7.5 million" "August 7, 2023 -- Rumors swirl that Huobi executives have been arrested, exchange is insolvent," "August 7, 2023 -- Worldcoin warehouse in Nairobi raided by authorities"[1] Crypto companies are running out of safe havens for unregulated activity. SBF was arrested in the Bahamas. Mainland China shut down most of the Bitcoin miners. Britain finally decided that the Financial Crimes Authority, not the Gambling Commission, had jurisdiction over crypto. The SEC and the CFTC stopped feuding and decided to just handle it as ordinary crime. Cyprus stopped being the safe haven for financial crime within the EU. There's still Bulgaria and Israel, and maybe Russia, but operating in those countries has its own problems. [1] https://web3isgoinggreat.com/ https://web3isgoinggreat.com/
- gizajob 3y ago
  Amazing how this libertarian, anarchistic, decentralised system has devolved into centralised exchange and corruption, and still without having any actual use or exchange value save for speculation.
- FabHK 3y ago
  Hong Kong lamentably revoked its prohibition of offering crypto to retail investors and is positioning itself as the place to be for virtual asset trading platform operators. :-/ https://www.news.gov.hk/eng/2022/10/20221031/20221031_102428_003.html https://www.news.gov.hk/eng/2022/10/20221031/20221031_102428...

TwoFactor 3y ago

It is not true that all crypto companies are scams, and especially not true that all crypto executives belong in jail.

phone8675309 3y ago
What actual, not theoretical, uses of crypto, aside from unregulated speculation, do you believe are non-scam uses?
- meepmorp 3y ago
  Buying drugs from the internet. Or are the kids not doing that anymore?
  - phone8675309 3y ago
    You don’t need crypto for this - I’ve got a friend that pays his plug on Venmo or CashApp just fine
- mufti_menk 3y ago
  Having something you can transact with and store value that isn't completely vulnerable to your government's monetary and foreign policy/capital controls
  - knorker 3y ago
    So... Crime? You're describing "isn't touchable by laws". Which means crime.
- simple-thoughts 3y ago
  Games, collectibles, lending, money markets, exclusive virtual clubs, international payments, trading are just a selection of activities I’ve personally engaged in on chain in ways I could not have off chain. Also whether or not you like speculation, many people do and it’s not a crime.
  - FabHK 3y ago
    I’ve done all of the above off chain; sorry to hear that you couldn’t.

Animats 3y ago

Yes. So far, just for August: "August 10, 2023 -- Bittrex settles with SEC for $24 million" "August 7, 2023 -- Bitsonic CEO arrested for allegedly stealing $7.5 million" "August 7, 2023 -- Rumors swirl that Huobi executives have been arrested, exchange is insolvent," "August 7, 2023 -- Worldcoin warehouse in Nairobi raided by authorities"[1] Crypto companies are running out of safe havens for unregulated activity. SBF was arrested in the Bahamas. Mainland China shut down most of the Bitcoin miners. Britain finally decided that the Financial Crimes Authority, not the Gambling Commission, had jurisdiction over crypto. The SEC and the CFTC stopped feuding and decided to just handle it as ordinary crime. Cyprus stopped being the safe haven for financial crime within the EU. There's still Bulgaria and Israel, and maybe Russia, but operating in those countries has its own problems. [1] https://web3isgoinggreat.com/ https://web3isgoinggreat.com/

gizajob 3y ago
Amazing how this libertarian, anarchistic, decentralised system has devolved into centralised exchange and corruption, and still without having any actual use or exchange value save for speculation.
FabHK 3y ago
Hong Kong lamentably revoked its prohibition of offering crypto to retail investors and is positioning itself as the place to be for virtual asset trading platform operators. :-/ https://www.news.gov.hk/eng/2022/10/20221031/20221031_102428_003.html https://www.news.gov.hk/eng/2022/10/20221031/20221031_102428...