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Matt Odell
Reminder that BNB is a centralized security token for an exchange that is actively breaking US laws. You also have to trust that binance is reporting their financials accurately. BNB could become worthless without warning due to gov action, exit scam, fraud, or theft.
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santi Feb 13
Replying to @matt_odell
why is it actively breaking american laws and why do those laws matter?
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Matt Odell Feb 13
Replying to @santisiri
Lack of KYC/AML compliance(albeit with a withdrawal limit). I'm not defending US laws as being just or fair, that said, ignore them at your own peril. There are plenty of examples of foreign companies that have learned that the hard way: liberty reserve, 1broker, shapeshift.
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santi Feb 13
Replying to @matt_odell
gotta admit feels weird when bitcoiners raise the kyc/aml card at their convenience.
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Matt Odell Feb 13
Replying to @santisiri
What does that mean dude? I despise KYC/AML laws...
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santi Feb 13
Replying to @matt_odell
except when it helps trash a token you don’t like?
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Matt Odell Feb 13
Replying to @santisiri
Disappointing angle to take here Santi. Stating facts shouldn't be discouraged. This goes hand in hand with my constant reminder of "not your keys, not your coins," trusting exchanges is a recipe for disaster. There's no contradiction here.
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santi Feb 13
Replying to @matt_odell
i was only asking questions man. that shouldn’t be discouraged too. ;)
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Bitcoin Gevus, son of Jod (Non-taker of ETH) Feb 13
Replying to @matt_odell
Let me get this straight, a guy that’s a die hard for “anonymous” money is criticizing a token/exchange on unsubstantiated facts that it does not abide by the very laws anonymity money is meant to defy?! You ok bud?
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Long ₿, Short Libra Feb 13
You talking about 's tweetstorm?
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Matt Odell Feb 13
Nope but I was talking to him about this the other day so maybe inadvertently. You have a link?
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Matt Odell Feb 13
Replying to @gevus1
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Matt Odell Feb 13
Replying to @santisiri
If centralized entities could successfully break the US financial hegemony, we wouldn't need cryptocurrencies in the first place 🤷‍♂️
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santi Feb 13
Replying to @matt_odell
in other words: be an imperialist for the cause of anti imperialism.
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Long ₿, Short Libra Feb 13
Thread starts here I think.
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Matt Odell Feb 13
Replying to @santisiri
In other words: design your systems so they can't be stopped in the first place.
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Matt Odell Feb 13
Oh that was bitmex, I'm referring to binance. Great thread though.
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Matt Odell Feb 13
Replying to @abtcblog @santisiri
I disagree with KYC/AML laws. They are counter intuitive and do more harm than good. They are a method of surveillance and control, and are a huge privacy/security hole. That said, they exist and have been enforced in the past. To operate under any other assumption is foolish.
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Matt Odell Feb 13
Replying to @abtcblog @santisiri
To be honest, I'm not sure what I'm being called out on. There's no contradiction here. Using centralized exchanges incurs added risk, especially one that isn't compliant with US regs and has it's own unregistered security token. I listed those risks, they are all accurate.
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Grammar Police Feb 13
Replying to @matt_odell
It seems to be the case that ought to have tweeted “regs and has [its] own unregistered” instead. ‘It's’ means ‘it is’ or ‘it has’, but ‘its’ is possessive.
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