I think it’s possible a lot of their Johns are Boomers and wouldn’t have a clue how to set it up anyway.
For online poker transactions, it’s been a godsend. You don’t even have to hold it in crypto. I just receive USDT, sell it to USD for a tiny fee, transfer to bank.
Can’t believe that last decade I was waiting weeks and weeks for goddamn shady looking checks in the mail for cashouts.
I remember Epassporte. Basically a shady as fuck atm card that you would use to withdraw $600 at a time out of atms. I put a safe in the wall of my bedroom closet to keep all the cash for that period.
Crytpo has been incredible for poker and sports betting.
And i just remembered going to wal mart to get western unions with the wal mart customer service giving me shit about whether i knew some obviously fake name from venezuela. That was definitely better than a few clicks and the money appears in your bank for nearly free.
Absolutely zero use cases exist though amirite.
Arent there apps that do this now at the same speed? With the added advantage of costing less, having a clear cost upfront, and not having to take the risk of a significant swing in bitcoin price as you make the trade?
My question is - what regulation? I am not a lawyer and I am better at Canada financial law than US law. But I think of “regulation” as being distinct from common law or, for example, the Criminal code of Canada. Those are really broad laws that cover all of us all the time as we go about our daily lives, but I don’t really think of them as “regulations”. Regulation is more targeted, and is usually formed by the passing of specific legislation combined with accompanying regulations and/or “guidance” from regulatory agencies.
An activity that is just subject to the broad legal framework of society (no fraud, don’t steal, etc.) isn’t really regulated. That’s the Republican desired end goal of “deregulation” - you take out all the prescribed rules against bad conduct and rely entirely on a system of lawsuits to resolve disputes, i.e. I sell you fictional stock in my fictional company, and when you realize it’s a sham you have to go to court (to sue me for fraud I guess) to recoup your loss. “Regulation” as I see it is the process of requiring me in the first place to register my company under some Corporations Act and then if I want to sell you stock in the company I will have to do so under a big book of rules accompanying a Securities Act and if you buy the stock from someone then there may even be some obligation for that person to register as an advisor or dealer in securities under some Advisors Act. Conservatives call all this stuff Regulatory Red Tape because it’s a nuisance for them to comply with a bunch of rules that are designed to stop them from ripping people off.
One of the yellow or possibly red flags for me about crypto/DeFi is that there is a lot of muddiness about whether the products are currencies or securities and whether the issuers or the exchanges are subject to any of the requirements of thinks like corporate, securities, or advisor regulation (not to mention banking law). STONKS are their own form of chaos and risk, but at the very least there is a system of regulation that attempts to reign in the absolute worst financial market behaviors. That doesn’t mean that stock market participants don’t try to rip people off, but it’s harder to do so when there is lots of regulation.
Note that none of this undermines the core ideas about crypto that made people enthusiastic about it in the first place. At it’s core, Bitcoin type technologies are a nifty way to record transactions. It’s genuinely cool and innovative the way that they establish a public record of transactions with just enough encryption to make the ledger publishable but still enough open source features to allow all the users to validate the public record. But that doesn’t mean that the participants in the system should be exempt from regulation. And for people that are trained in what bad financial market activity looks like (i.e. unsubstantiated claims by issuers, outsized return expectations by investors, asset price bubbles, and suspicious book keeping) it just seems obvious that crypto is an underregulated financial market. It walks like a duck, swims like a duck, quacks like a duck.
Lol I don’t think anyone ever argued against crypto being useful for circumventing laws. It has been great for cyber ransom too.
Yeah “it works great for crime” might not be the slam dunk you think it is here.
Get your Christmas shopping done
Some might say it’s better to start poor and stay poor than to ride down a half million dollar loss on a cartoon nazi monkey. YMMV.
needs the word Ponzi on it somewhere
sometimes the ride is worth the journey, i still want one of them apes
I think the ponzi is implied any time you pay $35 for a t-shirt.
That dastardly crime of winning at poker and getting your money out? That is certainly a take…I’m not trying to minimize the crime and fraud, but surely a community that wouldn’t even exist if online poker never happened can see some benefits? Or are we to the stage of the positions where our heels are dug in and just repeating “I’m right, you’re wrong”?
Do you guys also support keeping weed dealers in prison after the laws were changed? It was a crime afterall…
my god the questions/looks when you verify you know JOSE TOMAS GIMENEZ RODRIGUEZ 
“oh yeah, that’s my good buddy”
Ahh si, su nombre es mi nombre también
Just before i lost my rakeback on bodog , my agent could only pay my rakeback as an Amazon Gift card.
So buy gold with giftcard and trade for cash @ local goldforcash store…
Wish i could get my rakeback going on bovada again.
I said ‘circumventing laws’. Not sure what’s controversial about that. Just makes sure that those laws are not sufficiently important, because the part where someone has to convert the useless crypto into real money is the weak link in the use case.
I don’t know anything about US regulation.
But I’m still struggling to understand why anyone in the US would go through the trouble of setting up a VPN put their money on FTX (which it sounds like many did) vs. just putting it on FTX US. They must have offered different products?
