Technology

59092 readers

6622 users here now

This is a most excellent place for technology news and articles.

Our Rules

Follow the lemmy.world rules.
Only tech related content.
Be excellent to each another!
Mod approved content bots can post up to 10 articles per day.
Threads asking for personal tech support may be deleted.
Politics threads may be removed.
No memes allowed as posts, OK to post as comments.
Only approved bots from the list below, to ask if your bot can be added please contact us.
Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago

MODERATORS

Binance users pull over $1 billion from the exchange after CEO leaves, pleads guilty (www.cnbc.com)

submitted 11 months ago by L4s@lemmy.world to c/technology@lemmy.world

11 comments fedilink hide all child comments

Binance users pull over $1 billion from the exchange after CEO leaves, pleads guilty::Binance has seen outflows amounting to more than $1 billion in the past 24 hours, not including bitcoin, according to data from blockchain analysis firm Nansen.

you are viewing a single comment's thread
view the rest of the comments

[–] DetectiveKakuna@lemmy.world 2 points 11 months ago* (last edited 11 months ago) (2 children)

If you actually read the article and not the headline you would recognize that this has nothing to do with the legitimacy of cryptocurrency and everything to do with money laundering. All monetary value is imaginary after we got off the gold standard, so how are currencies controlled by global governments any less of a sham than crypto that is decentralized and not obfuscated by central banks?

Also if you lost money trading this news then I agree, that's on you. The total crypto market cap is valued higher today than before this news broke in the past 24 hours so if you sold on this news you only have yourself to blame 😂😂😂

[–] realharo@lemm.ee 7 points 11 months ago* (last edited 11 months ago) (1 children)

Well the practical difference is that money is something people actually use, where as crypto is mostly something they just hope to resell later to a higher bidder - who will only buy it because they hope to resell later to an even higher bidder.

[–] stifle867@programming.dev 0 points 11 months ago

Oh people definitely use crypto all right! That's why they had to pay $4.6B to settle a money laundering case.

[–] Thetimefarm@lemm.ee 2 points 11 months ago (1 children)

Honestly all value is relative, even the gold standard is fairly arbitrary. If you're stuck in the desert with 100kg of gold bars you'd trade them for a gallon of water in a heart beat. That's basically how the american healthcare system works lol.

[–] stifle867@programming.dev 1 points 11 months ago

Arbitrary vs imaginary are distinctly different. You're both right but talking about different things.