sneed-oil

8 ms·

31.
by sneed-oil 4y ago
People in Lebanon are not being allowed to withdraw their money from banks, something similar happened in Greece a few years ago. With crypto if you have your own keys that's not an issue. I don't see how the North Korea thing is
32.
by sneed-oil 4y ago
Telling exchanges to remove it and making it illegal for merchants to accept it as payment
33.
by 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
34.
by sneed-oil 4y ago
Depending on the drug and the country it might not even be a crime
35.
by sneed-oil 4y ago
Transactions 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.
36.
by sneed-oil 4y ago
Both cash and crypto have their downsides when it comes to money laundering. A non-tech savy person might not trust their crypto transactions to remain anonymous or their funds to be safe, because at the end of the day the only way you can
37.
by sneed-oil 4y ago
What's wrong with buying and selling drugs?
38.
by sneed-oil 4y ago
Is AAVE explicitly designed to facilitate money laundering?
39.
by sneed-oil 4y ago
He never said he was sanctioned
40.
by sneed-oil 4y ago
Can be sanctioned just like Tornado Cash
41.
by sneed-oil 4y ago
Did the AAVE developers say that?
42.
by sneed-oil 4y ago
Do you also believe artists should be punished if their works of art are used to launder money?
43.
by sneed-oil 4y ago
It looks like it is > Interestingly, in the end I was able to withdraw all my funds from AAVE through direct contract calls as illustrated above. So basically the web UI is blocked but people can still use AAVE by sending transactions to
44.
by sneed-oil 4y ago
The author of the article did avoid being (sort of) subject to government sanctions
45.
by sneed-oil 4y ago
It seems like they do though if you read the whole article
46.
by sneed-oil 4y ago
Did you read the article? His transactions went through in the end, just not through the website
47.
by sneed-oil 4y ago
The website blocked his transaction but he was still able to make them go through by using direct calls
48.
by sneed-oil 4y ago
It looks like they can be > Interestingly, in the end I was able to withdraw all my funds from AAVE through direct contract calls as illustrated above. So basically the web UI is blocked but people can still use AAVE by sending transacti
49.
by sneed-oil 4y ago
> If tornado cash were just obscuring transactions that could have conceivably been finalized with cash by private parties (~<$10K USD) A 200 euro banknote's dimensions are about 153x77x0.113 mm, if we consider double that thickn
50.
by sneed-oil 4y ago
How can you possibly know that?
51.
by sneed-oil 4y ago
> If you're exchanging cash, you still theoretically have the legal obligation to declare it. Businesses accepting cash have the obligation of issuing a receipt, and you may have some obligations of keeping that receipt. I'm pr
52.
by sneed-oil 4y ago
Teenagers are not the only ones who might want to buy drugs online
53.
by sneed-oil 4y ago
> you don't actually legally have the right to hide your financial transactions besides Maybe you don't, but that's what happens by default when using cash
54.
by sneed-oil 4y ago
If they don't know a dealer for the drugs they want they might decide to buy them online with cryptocurrency, and that's where a service like Tornado Cash is useful. Cash can be laundered too.
55.
by sneed-oil 4y ago
Yes, for example a teenager with religious parents might not want them to know that they're buying contraceptives, or a buyer of illegal drugs might not want the government to know it. As long as there are anonymous payment methods suc
56.
by sneed-oil 4y ago
It's not comparable to money laundering. When you launder money by registering sales that did not happen you'll get taxed and you can then spend that money wherever you'd like. If you try to use funds coming from Tornado Cash
57.
by sneed-oil 4y ago
Its use is offering a level of privacy that is at least as good as the one a credit card offers. On the Ethereum blockchain anybody you transact with can see your transaction history.