Comment by fragsworth
10 hours ago
That sounds kind of ideal, but I feel like their actions might have been justifiable.
If a massive heist like this triggered a run on one of the largest exchanges (Binance), potentially leading to a liquidity crisis, the consequences for the ecosystem could be far worse than temporarily freezing specific addresses holding stolen stablecoins.
Not saying that's what would have happened, but it seemed like a real possibility. And I'm not saying freezing assets is good in general, but in this particular case, maybe it was the lesser evil.
No. Permissioned cryptocurrency is all the horrible parts of cash and all the horrible parts of crypto put together with none of the advantages of either.
I want crypto because I don't trust nation states with the leverage and dials of fiat currency. All we've done is replace government with trusting whoever made a particular stablecoin.
Permissionless crypto is the only real crypto.
All cryptocurrency is permissioned. This is because governments can make it illegal for someone to turn your cryptocurrency into real currency. You need their permission to turn it into pizzas and yachts.
Only if you wanted to turn it into fiat currency for the transaction, right? If the yacht seller would take payment in crypto, you need no government’s permission, right?
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