Put Another Zero on Facebook’s Fine. Then We Can Talk

Re:Put Another Zero on Facebook’s Fine. Then We Can Talk by whynyc on Friday April 26, 2019 @01:28PM (#19759847)

This fine-as-tax trend is worrying. I propose crypto burn instead. It hurts the wrongdoer while not creating bad incentive for regulators. Win-Win.

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Re:Put Another Zero on Facebook’s Fine. Then We Can Talk by okket on Friday April 26, 2019 @01:43PM (#19760027)

No, please not. Crypto burn only makes crypto coins owner richer. That is the opposite of what taxes, even as fines, are for.

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Re:Put Another Zero on Facebook’s Fine. Then We Can Talk by andjd on Friday April 26, 2019 @02:07PM (#19760283)

Agree that crypto-burn is a bad idea. But I am curious what that 3-5 billion government windfall will go towards.

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Re:Put Another Zero on Facebook’s Fine. Then We Can Talk by cowpig on Friday April 26, 2019 @01:33PM (#19759916)

What does "crypto burn" mean?

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Re:Put Another Zero on Facebook’s Fine. Then We Can Talk by Expez on Friday April 26, 2019 @01:41PM (#19760005)

It's when you send cryptocurrency to an address nobody has the keys to, or that is the cryptographic equivalent of a black hole (provably inaccessible).

The problem GP is addressing is that the regulators aren't really incentivized to make the bad behavior stop because they are collecting revenue by letting it continue.

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Re:Put Another Zero on Facebook’s Fine. Then We Can Talk by whynyc on Friday April 26, 2019 @01:40PM (#19759985)

Transfering money to unspendable address. For example, $11M in 1CounterpartyXXXXXXXXXXXXXXXUWLpVr are unspendable.

https://www.blockchain.com/btc/address/1CounterpartyXXXXXXXX...

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