2
points
crypt1d
Joined 1,375 karma
nikyc [at] protonmail [dot] com
- crypt1d parentIn general I support this but the idea starts to fall apart real quick if your primary place of work is in front of a computer.
- 2 points
- Tokens are frozen "in-place" pending investigation. It differs from how it works with btc, because the government does not have control of the private keys that manage the addresses in question - so they go to Tether who controls the smart contract that manages the transactions of the tokens.
This, in practice, means that the US government controls the mentioned tokens for the moment. What happens with them depends entirely on the outcome of the investigation.
- Neither of those statements is true. Bitcoin seized by US government is often sold off in auctions[1]. Tether seized by the government could also be redeemed for fiat eventually, following due process.
[1] - https://www.forbes.com/sites/brandonkochkodin/2023/03/31/us-...
EDIT: I see now that you were actually comparing the case of USDT freeze against Bitcoin seizures. Nevertheless, Tether doesn't simply get to keep the USD value of the frozen tokens. US government would want to recover that.
- I spent a good chunk of my youth in the kafana, AMA :)
Joking aside, my feelings about it are mixed. I have fond memories of good laughs and parties with friends, but also can't help but notice a lot of black outs and hangovers the day after :) don't get me wrong though, if you are a tourist, you should definitely experience it.
- The rumour about Binance indictment by DoJ has been going around for 1-2 years now. Its one of the last remaining pieces of major news that could have potentially negatively affected the industry. After two years of prosecutions, regulatory uncertainty and general poor market conditions, its only now starting to feel like there's light at the end of the tunnel.
- 9 points
- 123 points
- Linkedin is one of those 'necessary evil' services that we all agree to use because everyone else does, but nobody actually likes. While I realise the network effect is hard to break, I look forward to somebody finally disrupting it - even if it results in a slightly-less bad product.
- We seem to have a arrived at a stage of collective thought in which every action which is not directly confrontational against those that have a different belief system, is seen an acknowledgement of its support. Discussions on any topic have become so polarising that even those that try to remain neutral are being met with hostility and cancel culture treatment.
I have never been so pessimistic about the future of the world as I am today.
- I used to wonder this a lot as well. It struck me as odd that a crowd of people with whom I'd often share a lot of the same values and beliefs, would be pretty much point blank against a whole industry that I've been so heavily involved with for many years. On a few occasions, it even shook my confidence and made me wonder if I'm doing the right thing. If so many smart people are against crypto, am I the crazy one?
I have since learned to live with it. In the same way that I live with the fact that crypto is full of grifters, I've learned to live with the fact that majority of the world has a very narrow view of what the space is about. The only thing that I find unfortunate now-a-days is how quick people are to turn towards radical thoughts and approaches, without even considering that they might not know what they are talking about.
- disappointed to see them still selling these with 8gb RAM. More than a dozen chrome tabs and a few discord servers has been enough to crash/significantly slow down my m1 mac mini
edit: the ad says up to 24/32GB of ram, but seems like 8gb/16gb models are the only ones available for pre-order at the moment.
- USDC withdrawals have been enabled again, but I don't suppose that's HN front-page worthy as much as the panic inducing titles.
https://twitter.com/binance/status/1602708590271385600?s=20&...
- I guess we'll have to agree to disagree then. If customers didn't want their USDC deposits converted, they shouldn't have used Binance. Its not a public service company. Same goes for your expectations of custody, they never claimed to be one.
Conversions are even announced when you go to deposit USDC:
"Please note that your USDC Deposit will be auto-converted to BUSD at a 1:1 Ratio. Please refer to announcement details. https://www.binance.com/en/support/announcement/e62f703604a9..."
I don't see how your point holds, besides "customer expected X, but got Y" - but this is because customer is misinformed, not because Binance has an obligation to store USDC 1:1 (in this case).
- Fair question.
Although, in practice, I don't think they would buy USDC via BUSD, but use their cash reserves for that. The cash reserves correspond (allegedly) 1:1 to BUSD so they would need to burn equivalent amount of BUSD as well. This all means that Binance would always value BUSD at 1 USD. I don't see a scenario where BUSD falls to 0.5usd if there are no shenanigans happening with the cash reserves.
- > Interesting. Because a lot of people think they're an exchange and use BInance as such.
...that's what I said?
> What? Someone trusted Binance to store USDC. The conversions should not have happened.
Conversions were announced timely. See https://www.binance.com/en/support/faq/what-is-busd-auto-con...
> No. Nobody is expecting that. You're the only person that mentioned it.
Its the logical conclusion of people expecting Binance to hold full USDC deposit amounts, even when most/all USDC was converted to BUSD.