Works as a flex I guess. Does this government agency budget statement really include a multi-million dollar line for "arming fascist death squads to destabilize countries most of us couldn't find on a map"? Why yes it does, what are you going to do about it!
bitofhope
joined 2 years ago
Hello from Radio Yerevan. Our listeners ask if it's true that America is standing on the edge of a precipice. We are happy to report that not only is that the case, but the USSR is once again one step ahead of them!
That's about 800 characters, though. X the everything app has helpfully made it easier to ignore bluechecks by allowing them to make their posts tl;dr and saving me the trouble of accidentally reading them.
Yep, agencies do track blood money on the chains and place sanctions accordingly. It's just a little more complicated than checking "was this specific coin used in one of these crimes" and laundering is still possible through a rogue exchange or P2P/sneakernet transactions to parties that don't care about the sanctions.
Bitcoins aren't really discrete individual units like that. Imagine you send me 0.1 bitcoin and my mom sends me 0.1 bitcoin and I then send 0.1 bitcoin to Alice (ignore transaction fees and such). It's not really a meaningful question whether the sum Alice received was the fraction of a "coin" I received from you, from my mom or some specific mixture of both. The blockchain just records increases and decreases of a wallet's balance.
Bitcoin is also unserious and unstable to a degree that woukd be comical if it weren't tragic.
It's incredibly subtle but if you take the first letter of each word in "Department Of Government Efficiency" you get DOGE, which is also the abbreviation of a popular memecoin Musk has shilled before. What a fascinating coin-cidence!
Perhaps they should have called it the Bastard Asshole Youth Criminals. Headed by the world's oldest child prodigy.
Not at all innocent, no. But I'd rather see the exchanges suffer than the small fry retail speculators (though I can still laugh at them).
I see. You should maybe know that while it's true in a sense, a lot of people don't like that phrase very much. It's a cliché cryptocurrency fans recite in response to any issues with cryptocurrency exchanges and I among others feel it serves to downplay the responsibility of the exchanges and blame the victims.
Securely taking care of an offline crypto wallet is somewhat more complicated and technically involved than just having an account on an exchange site. That the easiest way to use cryptocurrency is also an insecure one speaks of a major usability problem in the whole ecosystem.
More importantly, exchange sites offer what is essentially a bank account with little of the accountability of an actual bank. If a bank gets hacked and loses all your money or freezes your account for frivolous reasons, people generally don't go "well you should have stored your money in cash inside your mattress instead". (I guess some do, but they deservedly get the stink eye from people in polite society)
I dislike cryptocurrencies and have little trouble having vindictive schadenfreude when coiners and their platforms keep being embarrassed time and time again, but I know the real problem are the corporations and the tycoons, so I don't like their responsibility being shifted on the least informed and most vulnerable group of retail users, who are also the most likely ones to use these exchange platforms and thereby not hold their own keys.
What a snappy slogan. Did you come up with it all by yourself?
I'll respect their decision to voluntarily retract their crypto apologetics and not bore you with it. Just a bit funny to pre-empt anti-crypto rants on a forum called Buttcoin on a site called Awful Systems.
In a way every bubble economy is already a meta-bubble in that they don't just aim to generate hype about tulips, but also to generate hype about hype about tulips.
And like @YourNetworkIsHaunted pointed out, it's a pretty good description of private equity in general. More abstractly, every stock market crash is a consequence of some first-order bubble winning the meta-bubble race.