Hacker News Reader

spurdoman77on Tether (USDT) is launching on Coinbase Pro

For stablecoins, I think normal people dont think thar much about the shadiness but more if it works or not. Tether has been keeping their stablecoin stable for 6+ years, for normal users it looks good for quite wide variery of uses. Of course no one is saving their pension in USDT but there are lots of shorter term use cases.

spurdoman77on Accused money launderers left a path of bankrupt factories

Probably all wealthy countries are big destinations for dirty money. Wouldnt make sense to bring dirty money to poor country because there it would attract more attention.

spurdoman77on Wirecard employees removed millions in cash using shopping bags

I can't wait until Bitcoin makes this kind of things easier. Carrying cash in plastic bags sounds such a boomer thing to do.

spurdoman77on Tell me why my Crypto Startup idea won't work

Just use stablecoins bro

spurdoman77on Tell me why my Crypto Startup idea won't work

> The fact that Coinbase did a DPO instead of some kind of fancy DeFi-based offering is telling in their potential lack of conviction in the ability to offer public securities at this stage in the game through some of these smart contract based platforms. I'm sure @barmstrong has spent a lot of time thinking of this, I certainly would be if I was him.

I think the reason is very simple. Traditional markets have way more investable capital, which leads to better liquidity and higher price. Yes it is possible to issue an equity token, but credible companies will get better valuation and liquidity from traditional equity markets.

spurdoman77on About half of top Shopify execs exit

Makes sense. All work and no play makes Jack a very dull boy.

spurdoman77on Brian Armstrong seeking cofounder on HN (2012)

The bitcoin blockchain is full of transactions, and lots are probably being made offchain on Lightning Network or on centralized services. Your claim is that all these transactions are for speculation only (which is quite common claim). On what data do you base your claim?

spurdoman77on Coinbase from YC to DPO

Coinbase is custodying 760k BTC or so... thats more than 5% of all BTC in existence.

spurdoman77on Coinbase from YC to DPO

Thats cheap transaction fee for buying my yacht or private island with BTC

spurdoman77on $7.5B In Stolen Bitcoin from 2016 Bitfinex Hack has just been moved

If tumblers are a problem, why wouldnt monero be? You could view it just as a BTC that has built-in tumbler. I dont really follow this logic of Monero shills. Exchanges can ban both tumblers AND monero.

spurdoman77on $7.5B In Stolen Bitcoin from 2016 Bitfinex Hack has just been moved

The exchange taking it wont be knowingly taking it, it is likely just a exchange that doesnt have system for detecting it.

There are thousands of btc exchanges all around the world. For sure there are some where they dont even know about bitfinex.

spurdoman77on Coinbase from YC to DPO

Depends on the kind of transaction you are doing. For bigger transactions it is actually nice not having to pay percentual fee as with Bitcoin. However with coinbase I believe they are high percentually.

spurdoman77on Coinbase from YC to DPO

That is quite literally illegal nowadays in many jurisdictions.

spurdoman77on Coinbase from YC to DPO

Not very valuable opinion if you dont have any arguments.

spurdoman77on Coinbase from YC to DPO

https://coingeek.com/binance-not-licensed-to-operate-in-malt...

Binance has never been in Malta, in fact they are not located anywhere. I would be very cautious in dealing with them because to me that kind of approach to regulation doesnt sound healthy.

spurdoman77on Bitcoin is a ‘boon for surveillance’, says former CIA director

No, not at all.

Basically, if you dont want to deal with the onchain transactions, you could sell the risk of that to someone else and only deal in internal offchain transactions. Dont know if this actually happens though.

spurdoman77on Bitcoin is a ‘boon for surveillance’, says former CIA director

Even in the ancient Silk Road you could sell contraband effectively using internal, offchain transactions only. The customers pay using offchain transactions using the market, and the vendor can cash out via some trader in the same market.

spurdoman77on US bosses now earn 312 times the average worker's wage, figures show (2018)

The boards try to maximize ownership value, and I think they genuinely believe thar if they give CEO the stock options that is also making the stock price to go up on average.

spurdoman77on CEO of a top Bitcoin exchange warns: crackdown on cryptocurrencies may be coming

Cash is perfect for small criminals. Practically useless for bigger criminals.

spurdoman77on CEO of a top Bitcoin exchange warns: crackdown on cryptocurrencies may be coming

Central bankers are often pro-cash but anti-bitcoin. They dont want competition.

spurdoman77on I hope work from home continues

Trust issues. While 80% of employees could be more productive remote, 18% could have serious issues with productivity and 2% might actually turn nefarious while remote (steal company IPR or something like that). Or I would imagine thats what the fear is.

spurdoman77on NFT Canon

NFTs are pretty useful for money laundering.

spurdoman77on What Kind of Genius Makes a Traceable, Illicit Payment on Cash App?

Its not really that hard. Just mix the coins somehow after purchase.

spurdoman77on PayPal launches crypto checkout service

The source-of-funds problem is solvable, otherwise companies like coinbase wouldnt be allowed to exist. Paypal just needs to buy some chain analysis service, and implement SARs and other related AML stuff.

spurdoman77on Rockstar pays $10k to modder who fixed GTA Online loading times

You get what you negotiate for, not what you deserve.

spurdoman77on Rockstar pays $10k to modder who fixed GTA Online loading times

This. People underestimate the value reputation like this can have in the industry. And anyway, the guy is smart, he just has to work on his monetization strategy. The business model where you do things for free in hopes that some kind corporation will pay you just doesnt work.

spurdoman77on Metakovan, the mystery Beeple art buyer, and his NFT/DeFi scheme

Though, there isnt guarantee that someone will keep hosting these? Similarly as with torrents the seeders might go away.

Maybe marginally better than URL but not very much IMO.

spurdoman77on Children Playing Blockchain

Proof of stake literally makes rich richer, thats the point of it - holders can mint new blocks. With proof of work there is actual work involved tol, not just minting money with your capital.

spurdoman77on Twitter's Dorsey auctions first ever tweet as digital memorabilia

He paid and there was dinner, it was just delayed. Shitcoins are good business, Justin can afford stupid shit.