krupan

34 ms·

841.
by krupan 3y ago
Ok, first off, let's take a step back here. We are discussing a solution to this unbanking problem, but you and I have gotten off into the weeds a little about hiding actual criminal activity. Bitcoin is not 100% private, but it did
842.
by krupan 3y ago
In the article the author claims stocks have an "external" pay off because stock is tied to a company that sells products and if the company does well they might pay shareholders dividends or do a stock buyback. I can accept th
843.
by krupan 3y ago
It is a lightning wallet, a Bitcoin wallet, an exchange, and a venmo like payment app.
844.
by krupan 3y ago
From the linked article, "James Zhong committed wire fraud over a decade ago" He definitely wasn't using Schnorr signatures 10 years ago.
845.
by krupan 3y ago
You started off so well, then got into crypto gobbledegook. Ethereum or anything built on it will never compete with AWS. That is just so completely hilarious. Also very off topic from the discussion here about people being unfairly unba
846.
by krupan 3y ago
Bitcoin is ever innovating in ways that are safe and transparent, see Taproot that was added fairly recently. Other crypto has proven to be at best run by incompetent folks, at worst straight up scams. Either way you lose with them. Sorr
847.
by krupan 3y ago
How about metrics like answering the question of, "how much of the coin exists?" Or metrics like, "how understandable and simple is the overall protocol and mining scheme?" Or "has this chain ever broken it's o
848.
by krupan 3y ago
I'm sorry, but playing with anything other than BTC Bitcoin and lightning is just going to waste your time and resources. I'm sorry, but the last 15 years has taught us that again and again. Definitely do your own research, star
849.
by krupan 3y ago
I was answering the question about how to interact with non-bitcoin users today. That requires trusting some third party. Strike is a good one for making Venmo like payments. The best exchange right now that I have found is Swan. If you
850.
by krupan 3y ago
USDC and stablecoins are centrally controlled and do not solve the problems that we are talking about here.
851.
by krupan 3y ago
There is no personally identifiable information stored in the public ledger. Just addresses, scripts, and Bitcoin amounts. If someone that knows you (like an employer or a Bitcoin exchange) sends you Bitcoin, they will know addresses that
852.
by krupan 3y ago
You are overstating how easy it is to track and how hard it is manage multiple addresses. As more addresses are used it gets harder and harder to track. Your employer will not have the resources to do it. Hierarchical wallets make it rea
853.
by krupan 3y ago
Again, how exactly do you define money laundering? Currently the definition by law seems to be, "anything that could be used to hide criminal activity." In that case, yes, there are plenty of legitimate, non-criminal reasons to m
854.
by krupan 3y ago
"Money laundering is any deliberate attempt to make tracing those transactions [ones that prove you committed a crime] more difficult." But that's not true. If it's not a deliberate attempt to hide fraud/theft bu
855.
by krupan 3y ago
Yes, we are in the early stages of Bitcoin and not a lot of people are using it. But we are talking about the properties it has inherently and by design. It is designed to be permissionless, everyone is allowed and able to use it. The cu
856.
by krupan 3y ago
BTC. BCH was a failed attempt at improving Bitcoin
857.
by krupan 3y ago
True. But now hand someone that lives in a different state or country some cash. Oh wait, you can't easily do that. There are trade-offs in everything.
858.
by krupan 3y ago
Did I? I think I'm actually having some intelligent conversation now following that. Yay!
859.
by krupan 3y ago
It isn't hard to accept money on an address that is known to be associated with you and then transfer it to an address that is not known (cannot be proven) to be associated with you. An extreme form of this is called coin mixing or co
860.
by krupan 3y ago
People do track cash by serial number, each and every bill has a unique one. However in practice it doesn't happen a lot. I would think that's because: - There are a whole lot of bills to keep track of - The serial numbers are n
861.
by krupan 3y ago
Sorry for the confusion. The term Bitcoin can be used to refer to the code that runs the Bitcoin network upon which the Bitcoin currency/token moves around and is stored. The inventors could probably have come up with different names
862.
by krupan 3y ago
Lots of discussion in the comments here about how ingrained banks are into our current system. I do honestly see Bitcoin as a way out of that, but at this early stage of it, you'd probably have to get help from someone who is not deba
863.
by krupan 3y ago
Serious question, what the are the privacy properties of cash that Bitcoin lacks? Who types destination addresses by hand? Probably the same people that expose a hoard of paper money to flames?
864.
by krupan 3y ago
UPDATE: you also have to love this amazing piece of either ignorance or straight up lying in the later part of the article: "By that definition the USD is a ponzi. No, national currencies too fail to fit the definition, because people
865.
by krupan 3y ago
Fine, I clicked and read a couple of those. I like the 3rd one that defines a ponzi scheme: "A Ponzi scheme, or "ponzi" for short, is a type of investment fraud with these five features: 1 People invest into it because they
866.
by krupan 3y ago
All crypto is a scam. Bitcoin is not crypto
867.
by krupan 3y ago
Bitcoin, not crypto. And poster has to be cryptic and/or sarcastic because even though it's a solution to this very problem staring us in the face, people here shut down any intelligent conversation about it both with down votes
868.
by krupan 3y ago
The crazy thing to me in all this is that the types and amounts of transactions you make with your money and the bank is not criminal and never could be. It could however be a technique used to hide things that are criminal like fraud or t
869.
by krupan 3y ago
Just a tip, stick with Bitcoin, not crypto.
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by krupan 3y ago
Comrade guiriduro, I appreciate your efforts to better the community for all by attempting to motivate the behavior of our comrades through tax policy. This sentiment will be noted in your social profile.

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