The government's definition of crimes and the punishment system are problematic. Doesn't change what the role of a judicial system is.
Hah. I need to do 4.
What exactly can I, a Bitcoiner, do to punish those committing securities fraud, or to stop people from engaging with them?
How do you expect a decentralized system to overcome crypto's marketing budget?
Markets act rationally but do not have perfect information. In time, information will be less asymmetric. We will have a hard time educating people when bad actors seem more credible. History will do the work for us.
A judicial system exists to enforce a system of rights that facilitate socioeconomic cooperation. Actions of force or fraud against individuals should be punished appropriately.
We are allowed to serve the following African countries. The exchange is non-custodial and does no KYC. It pays out Bitcoin to your on-chain or lightning address, and accepts South African Rands.
Algeria, Angola, Benin, Botswana, Burkina Faso, Cameroon, Cape Verde, Chad, Comoros, Djibouti, Egypt, Eritrea, Eswatini, Ethiopia, Gabon, Gambia, Ghana, Ivory Coast, Kenya, Lesotho, Liberia, Madagascar, Malawi, Mauritania, Mauritius, Morocco, Mozambique, Namibia, Niger, Nigeria, Rwanda, Sao Tome and Principe, Senegal, Seychelles, Sierra Leone, South Africa, Tanzania, Tunisia, Uganda, and Zambia.
They kept buying.
I have very diverse tastes.
I'm not exposed, why would I be worried?
The post said there will be other monies alongside Bitcoin. A niche crypto token used for anonymous transfers is not monies alongside Bitcoin. It's a drop in the ocean.
I think Monero is cool to use but it's a bad investment. That was and remains my point. The network effects will never shift in its favour. It will never outperform, I doubt it will even grow at all.
It's not hard to audit because the Maths is hard. It's hard to audit because there's no transparent public ledger. I'm sure you could get round to understanding it eventually, I'm sure you'd detect a fault eventually, but eventually is not really good enough.
Is the party pay to play too?
I don't know anything about it's origins, and I'm not exposed so I don't really care.
Geez this got aggressive.
Rest well you dirty rat.. I mean it 🤝
Computing power is still decentralized, mining pools are immaterial.
Fiat evolved from gold coinage. Fiat had value because the gold notes had value, because gold had value. The evolution of money was not driven by value but by logistics. Each step was enforced by the government's mandate. People were promised the fundamental qualities of money would not be changed.
Executive Order 6102 required all persons to surrender gold coins, bullion, and certificates to the Federal Reserve.
Nixon removed US from a gold standard and immediately enacted price controls. Economic Stabilization Act of 1971.
These were not the actions of the free market.
In any case, markets clearly find value in fiat. A lot of money is locked up in savings, money markets, bonds, etc. In countries with bad money, people still trust it to hold value until they are done with their shopping or can exchange it for a better currency. They would not accept it otherwise. They would replace it for something better in a heartbeat if given the chance.