Re:Binance US No Longer Allows USD Withdrawal for Users
by gosub100 on Wednesday October 18, 2023 @04:19PM
(#37934239)
I don't disagree with you. I think it's a strange case where the tech-smart "code is law" proponents really think, in their minds, that it's invincible "because encryption!", and every time a new heist/scam occurs they dig their heels in deeper and say "that's different, it wasn't the _crypto_ that failed..."
Even if it wasn't for elaborate rug-pulls, you could still lose everything to an evil-maid with a $5 key logger. That is just untenable.
You are missing the extremely important point that crypto is saturated by these types exactly and explicitly because of design decisions that are inherent in crypto!
The lack of transaction reversal is an explicit choice and explicitly empowers fraudulent activity over legitimate. What business or individual wants to lock up any value/cash/work they have in a system with zero recourse for fucking up?