Buttcoin

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Buttcoin is the future of online butts. Buttcoin is a peer-to-peer butt. Peer-to-peer means that no central authority issues new butts or tracks butts.

A community for hurling ordure at cryptocurrency/blockchain dweebs of all sorts. We are only here for debate as long as it amuses us. Meme stocks are also on topic.

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Everybody hates Binance: Two staff held in Nigeria; finding the cash for $4.3b in US fines (davidgerard.co.uk)

submitted 8 months ago by [email protected] to c/[email protected]

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[–] [email protected] 8 points 8 months ago (1 children)

so interesting thing: their compliance shit is "stop violating sanctions you fucks" and "keep the hell out of the US". That's what's being enforced. The actual trading floor is not regulated by any governmental entity at all.

So we expect they'll come up with various ways to get the money from their customers, probably with one or two layers of indirection - perpetual KYC loops for withdrawal (an extremely popular trick throughout crypto), trading against their customers even more than they do now and so on.

[–] [email protected] 9 points 8 months ago

I cannot imagine the type of gambling problem needed to keep playing craps even when the cash cage refuses to redeem your chips and a crew of repo guys is taking away half the casino

maybe the real innovation in crypto is the level of social control needed to prevent their gamblers from cashing in their chips or take their eyes off the craps table at all