Comment by jwpapi
12 hours ago
Freezing crypto is so disgusting to me I don’t know…
Like the whole point of crypto to me I money without central governance.
I never liked stable coins or the concept of it and it’s mainly a huge fraud, so freezing just adds on top.
That's not the whole point at all. And there are truly wild west cryptos, but most people want some trustworthy regulatory body, whether it's a government or not, backstopping their funds when they get large enough.
For instance to unwind a 5 billion dollar robbery
"people want some trustworthy regulatory body"
Have you talked to Crypto-enthusiasts before? They very much don't want that.
I’m pretty sure cryptocurrency enthusiasts are a small minority of cryptocurrency users.
But if I am the victim of a $5k or $50k robbery, I'm out of luck. Yay.
That’s why crypto is so dumb
But without crypto we couldn't helped people in Gaza during the genocide. It has it benefits just not for the privileged white guy.
1 reply →
Stablecoins are fiat on-chain and they are legal so they need to have the freezing mechanism in the smart contract otherwise they could go to jail.
So crypto + legal company means not really following bitcoin ideology anymore
At least a motivated person could audit the smart contracts on this. It isn't like it's a surprise when it turns out it's possible to freeze these coins.
this isn't crypto, it's US dollars with a techno-wizard sheen on the top for no reason
governments, banks freeze currency all the time
> Freezing crypto is so disgusting to me I don’t know…
The feature literally appears to have just saved over two billion USD from being stolen! I mean, fine, "disgusting" is subjective. But the need for the feature is real and quantifiable (and very large) and it did what it advertised.
it cuts both ways - it's fine when 2B of heist money gets frozen, but much less "fine" when your paycheck gets frozen because you've attended a political rally the ruling party/class does not like.
It's so sad that it's inconvenient for you to commit fraud and tax evasion and pyramid schemes and rug pulls.
My heart goes out to you, along with these two definitely not Nazi salutes.
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