1,511 karma · joined February 25, 2014
I don't know if this is the sort of thing a court can do but it seems like the obvious solution to eliminate the damages to the plaintiffs while keeping the sanction in place.
A better example might be to pay for a legal service without revealing your entire wallet balance to that service.
PS. These are merely the opinions of someone with no experience operating a business.
In my opinion the size of the groups doesn’t matter when it comes to whether or not it should be a crime. Though I understand it may be a relevant factor as far as the law is concerned.
This is only true in the tautological sense.
Crypto mixers are outlawed > All users of crypto mixers are therefore deemed outlaws > Only outlaws use crypto mixers.
An otherwise innocent person who has never heard about the sanctions may continue to "launder" their crypto unawares because they don't want everyone they transact with to know their total balance. I would not consider them an outlaw but they may be in for a nasty surprise now.
> Trading is a lottery operated by market makers, and like the lottery its social function is to convert mass innumeracy into funding for better causes.
It’s basically saying “we should have your money because we know better than you”. Maybe true, but I find it a very weak argument for the social function of a quant firm. Especially when lotteries are essentially a form of regressive taxation.
> the fluff around decentralized finance being more fair just because it is public and “open” is naive at best
As another commenter pointed out, the investigation was triggered by this tweet [0]. How is that not more open and fair? If there wasn't a public record of the transactions, like in traditional finance, this guy would have likely gotten away with it.
This limited throughput led to a massive debate amongst the community about how best to scale bitcoin. One side wanted to change the blocksize (either a step-up in size or to use dynamic scaling), and the other main side wanted to keep the block size at 1Mb and implement off-chain scaling (Lightning Network). I won't recount their arguments for/against, or even tell the story of the debate because it would be very long and there was so much shenanigans involved that I would probably struggle to remain neutral. The long and short of it though is that the side that wanted to keep the block size fixed at 1Mb won out and got to keep the Bitcoin (BTC) name while the other side spun out into a fork called Bitcoin Cash (BCH).
I wonder if it’s all just a bit of marketing to get past this response from people. Virtually nobody has actually eaten human meat so how would a customer know whether the taste is accurate or not?