iskander

However, whether this freedom to tinker and invent new primitives is worth all the extra risk from people trying to "invest" in this stuff, way less clear. Especially when the freedom is most often used to recreate traditional flavors of financial fraud dressed up as new technology.

There needs to be some conceptual separation between the actual on-chain technology (used by a very smaller minority of people with some kind of financial stake in crypto) vs. buying tokens/coins off-chain. At the very least marketing and promotion of buying made-up crypto tokens should be illegal and probably every off-chain entity related to crypto should be heavily regulated to avoid using the cover of "new technology" to perpetuate scams.

Practical value add? Less clear. On-chain comes with "contract risk", off-chain is more or less unregulated and comes with these FTX-like collapse risks.

It still doesn't save your home if you build at 5ft above sea level and a hurricane brings 15ft of storm surge.

In addition to primary sales, there are also royalty payments for secondary sales but I don't think any of his pieces have ever sold for €200k (which would be required for a €10k royalty).

...but maybe this goes against the spirit of AML-D5 since popular generative art still drives many millions of dollars/euros in sales, but often split across smaller transactions (since a collection may contain hundred to thousands of individual pieces).

The author asked for guidance:

>I called the VID (Latvian State Revenue Service) and asked in detail what I should do. I was told that I should first register as a self-employed person with the profession of an artist. And I have to convert my income into fiat and pay tax on the income in fiat because cryptocurrency is not money in Latvia.

...followed it by converting to Euros and paying taxes and then still had his bank account frozen for half a year without any further clarification on what he did wrong or how to fix it.

Is this the latest requirement? https://www.federalreserve.gov/newsevents/pressreleases/bcre...

(4.5%)

And how do banks actually measure up to this minimum?

>the Financial Services Modernization Act of 1999...repealed part of the Glass–Steagall Act of 1933, removing barriers in the market among banking companies, securities companies, and insurance companies that prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company

FDIC insurance ends up being the main guarantee of safety, especially in the modern era of 0% reserve requirements.

I would like to fundraise with an international group that doesn't trust US based corporations with their personal data. Is there an existing way to do that?

Also, more generally and away from things that start in the financial sphere, a decentralized web-scale database seems to have broad conceptual appeal but the only functioning large-scale instances all come bundled with cryptocurrencies. I think this is largely because we don't a way to pay for servers without the financial layer (and figuring out a way to dial down the financialization while keeping decentralization would be good).