That does sound like a nightmare and I’m sorry you went through that. Without knowing the specifics of how that happened it’s hard to comment intelligently other than it sounds like a colossal ridiculous mistake. However, you still ended up with 6k of your 7k back in the end. If you had lost your crypto key or had it stolen or hacked, you would have ended up with 0k back.
I’m confused as to why this is something inherent to fiat vs. crypto rather than something inherent to the regulatory state.
In a future universe where I’m buying a home with crypto that is being loaned to me, why does it then become ok to materially and intentionally misrepresent my finances on the paperwork?
The fact that there are legal deterrents to going around lying and cheating in order to separate people from their money is generally considered a feature rather than a bug.
One of the reasons that billionaires love crypto.
The point is that situation would never occur with crypto.
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You mean like how we were always told crypto was the way to get around government oversight, and then Binance was about to hand over data about Navalny donors to the Russian government, and only did a 180 because of the bad press they knew was coming?
And then most of the crypto bros itt instantly pivoted to “Well duh, don’t use Binanace” and “yeah that’s the price of doing business in a country.” Well except Beetlejuice who pivoted to “terrorism supporters should be outed.”
I would assume the exact same pivot when/if crypto exchanges start letting the government garnish people’s holdings. That’s just the price of doing business in a country. ¯\(ツ)/¯
If you give your crypto to a centralized entity, you will have similar problems to centralized banking, yes.
Can we drop the “crypto bros” moniker? It seems needlessly antagonistic for what is purportedly a genuine conversation. Kinda sexist too.
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It’s cool how you took dubious story from an unreliable source that was promptly denied and quietly dropped because nobody else could confirm any of the accusations, then somehow twisted that into something else entirely that was never alleged at all, and now you’re going to spend the rest of your life firmly believing in that fiction.
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A month later I stand by that sentiment. Still seems pretty crazy to disagree with it, but I guess since these terrorists are white you feel they should get special treatment
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i agree it seems like it’s tainting what has been a pretty good convo for me to follow
crypto bug a little nicer? i guess still derogatory sounding
When was the last time someone went to jail for an honest mistake with their checking account? This seems hyperbolic and absurd.
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:wednesday:
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I was responding to you post saying that this couldn’t happen with crypto. You might want to caveat that with “as long as you keep your crypto in your own wallet”, which as we’ve discussed ad infinitum is not something a lot of people are willing to do.
Can you explain the legal concept (inherent to crypto) that makes it totally legal to spend crypto that was sent to you by a financial institution by mistake?
Well even if it wasn’t true, this thread sure came rushing to defense of the idea.
Which is my main point. “Well X couldn’t happen with crypto” seems to pretty easily pivot to “well actually X is a correct and necessary outcome because…” and “you shouldn’t have your funds with that company anyway”.
lol, that’s not an honest mistake.
Ok, and my response is that if you ask someone else to hold your crypto you shouldn’t be surprised when the same problems arise as when you ask someone else to hold your fiat.
It really isn’t hard to set up your own wallet. Yes, there is a learning curve, just like there is a learning curve with setting up your first bank account. Your parents had to tell you not to give your friends your PIN, not to respond to emails from Nigerian princes, etc. The crypto learning curve is way, way lower. If all you want to do is buy and hold, you’d be good with a couple hours on youtube.
Or I could hold your BTC for a modest fee… I won’t even hand it over to Putin.
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Yeah except for the fact that everyone else in the thread basically just says to ignore BJ’s performative trolling, and no one else itt has joined forces with you on the idea that Navalny is a terrorist or that the Russian government’s position has anything to do with reality. But keep just plowing forward and asserting that your fringe position is mainstream.
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Don’t use your own wallet: “Lol don’t put your money with Company X. Of course that bad thing was going to happen.”
Do use your own wallet and make any one of a number of mistakes and lose everything: “Lol don’t do that noob.”
The whole point has always been - how are you going to take crypto mainstream if these are the two options? Most people just won’t play. And if most people won’t play, you’re probably never getting to BTC $500k.
Which I think must speak to some fundamental issue that you can’t have completely decentralized and not a scammy minefield at the same time. Not to mention there are governing bodies who can fork the whole blockchain if needed in response to a massive scam. So there is still some centralization. But not for small scams.
:stabby: :stabby: :stabby:
:stabby: :stabby: :stabby:
:stabby: :stabby: :stabby:
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Have you ever set up a wallet? It’s really really easy. You basically can’t go wrong if you buy and hold and store your keys as though they are something valuable. All the scams and wild west shit you read about are people doing more complicated things. NFTs are a whole other thing.
Maybe you’re right. I don’t really care about taking crypto mainstream and being mainstream is not a necessary condition of $500K BTC.
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