I should dedicate a Pi to procedurally generate Minecraft worlds, then stamp out NFTs of them.
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I mean, sure the court has no technical means of enforcing the order.
But guess what, if a court orders you not to do most things they have no way of preventing you from doing those things. It’s just that if you break the order and they find out you GO TO JAIL.
Since the blockchain provides an immutable record of all transactions in and out of the wallet it makes excellent evidence, especially since the defendants are on record all over their public statements, I imagine, talking about this very quality of the block chain.
There is a disconnect between the cryptobro’s cry of “code is law” and reality where, you know, law is law and it is enforced by guys with guns, billy clubs and prison cells; not a Xeon Processor and some code you wrote while coked up.
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Today Vladimir Putin took time out from invading Ukraine to discuss cryptocurrency regulation.
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Intel agencies will start stealing those “assets”.
What money? Can you prove you owned it?
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Also, Bitcoin has huge drops in value whenever mass conversions to fiat happen. It only remains high while hodlers keep self dealing to artificially increase the market value. I don’t think it would retain value in a situation like this. Of course a lot of the exchanges would also be prohibited from dealing with Russia anyway by sanctions, so how would they even manage all of this?
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China makes using cryptocurrency a crime – again
China has again cracked down on cryptocurrencies – this time with a Supreme People’s Court ruling that paves the way for criminal prosecution of those who conduct cryptocurrency transactions.
[…]
The effect of the ruling is to give Beijing an extra tool with which to enforce its bans on cryptocurrency which, as The Register has reported, were issued in September 2021, June 2021, May 2021, February 2018, September 2017, and December 2013, at least.
Beijing’s hostility to crypto-money and decentralized financial services is founded in the bedrock principle of Chinese politics: the Chinese Communist Party does not share power. Anything and anyone that challenges central control is brought to heel so it can be closely supervised.
[…]
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I am conflicted
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A few years ago I visited the Empire Mine State Historic Park, which is the site of California’s largest, longest-operating gold mine which was in operation for over 100 years. There’s a simple display to show the total volume of gold that was extracted over that whole time period, when thousands of workers dug hundreds of miles of tunnels through solid rock. It was a cube 7’x7’x7’. Which was kinda disappointing, really. All that work over generations, not to mention the deaths, debilitations, and environmental damage from cyanide, etc, and it wouldn’t even fill a small corner of Uncle Scrooge’s vault.
But at least gold has a few practical uses, even if it doesn’t justify the environmental damage. NASA has multiple uses for it, for example. Crypto, not so much.
Edit to add: turns out that dumb cube in New York is hollow inside?. It’s even more pointless than I thought. Per a report from Artnet, the walls are a measly 1/4” thick.
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Smaug was the richest being in the multiverse.
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Is the artist maybe saying more than his patrons think by having his crypto art piece actually be hollow?
- JUST BECAUSE NFT’S ARE INVOLVED DOESN’T MEAN IT’S A SCAM
- YES IT DOES
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Reading this medium post is like gazing into the abyss
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