binance is paying a $4B extortion fee to the US government for not surveilling users hard enough nostr:note1kydzxhhexpu2an4tgn528fqk02fj72zfns5jnedp9492u4jd3kxq2zefz6
Few...
How do we increase privacy on Bitcoin immediately? We are likely months from a full bore 6102 attack/ criminalization of all non- fiat!!
It's hard work. There are no short cuts. It begins with self custody. From there, run a node. Learn how to safely coinjoin. Mine bitcoin or if you can't, buy directly from a miner. This upcoming announcement might have some solutions in that direction. Disclosure - I have no investment or affiliation with this group but my company will be providing technical services for the live stream. https://ocean.xyz/event?nostr
Nailed it 🎯 nostr:nevent1qqste06sqya66y0hwud6l56n9arm0nx0ww07775s9scmewwer3xap3cpz3mhxue69uhhyetvv9ujuerpd46hxtnfdupzqpxfzhdwlm3cx9l6wdzyft8w8y9gy607tqgtyfq7tekaxs7lhmxfqvzqqqqqqym2qcxu
Until yesterday I had no idea that many bitcoiners love to be KYC'd.
agreed. like it or not, these exchanges have helped put more BTC in self custody than any other force in the space. seems many would rather opt to be resentful of them, for not being perfect, rathen than grateful to them, for helping ordinay people access a liquid market of BTC.
Oh I do want Binance to perish, just not like this. My bet is Binance exits the US, and they pay only a fraction of the $4B - taking refuge in China. Untouchable. Of course this news, of not honoring the US fine would never merit a press briefing. Or alternatively, the US doesn't expect them to really pay the full 4B. The true objective may be to set a public narrative against "crypto". TerRoRiStS and all that.
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they're pushing out entities that have grown and established themselves organically, in favour of more state captured entities like Blackrock, et al. custodial exchanges mightn't be the ideal means to facilitate trade, but if we're to be philosophically consistent, we should favour decentralisation amongst exchanges, as much as anywhere else..
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Very true. The never-ending creep of government oversight needs to slow down...
They are coming for self custody next and we all know it
Logically, customer deposits will be tapped or at least put into extreme danger (ala FTX style) to make good on this "fine". My bet is that US customers' assets will be converted first. It's what I'd do. 🤔 Wondering if the US sets up a fine payment plan, and a convenient auto-ACH withdrawal.