The Binance Crackdown Will Be an 'Unprecedented' Bonanza for Crypto Surveillance...

[thomasparra]

What are your favorite hardware solutions? Is there a way to duplicate the keys on local laptop + cloud + paper for example, avoiding single point of storage failure? Some people use an external (usb) key, but you still need to store your keys somewhere else to keep them safe so what is the main point of it? Does it just make trading/exchanging/paying online easier?

 

[thomasparra]

What are your favorite hardware solutions? Is there a way to duplicate the keys on‌ local laptop + cloud + paper for example, avoiding single point of storage failure? Some‍ people use an external (usb) key, but you still need to store your keys somewhere⁠ else to keep them safe so what is the main point of it? Does it⁤ just make trading/exchanging/paying online easier?

 

[JohnLocke]

If you have a ledger and have written your words down on a piece of‌ paper or bought this metal pin to store your secret words, then it doesn't really‍ matter if your ledger breaks. You can quickly set up your wallet on a new⁠ ledger then.

The question is what this will mean for the overall crypto market with⁤ all this mess with Binance! And will they survive this earthquake?

 

[void]

get Trezor T
use Shamir⁣ Backup

 

[jafo]

To me, Binance is DEAD! I wouldn't touch Binance ever again,

...unless it's politically connected‍ & privileged entities or individuals paying me, e.g. Blackrock, FBI, Vanguard, Schwab, Tony Blair, George⁠ Bush, Obama etc etc. I don't know what possible value I bring to any of⁤ them, but snubbing them is certainly NOT going to be good for my health and⁣ liberty. They have too many "order followers" and there is no way I can fight⁢ off thousands of men. cry&¤

My thinking goes along this way: Would I willingly send my︀ personal/corporate documents, bank accounts, crypto addresses etc etc to the FBI/US DOJ/IRS, etc for free????︁

That's my answer.

PS. I can easily go through the logic of this step by︂ step with illustrations, case laws, stare decisis, etc, but I am sure that most, if︃ not all, here are smarter and more perspicacious than me.

 

[Konstanz]

Well they did not do proper KYC/AML for years. No wonder they are now investigated.‌ But from what I see it's very small punishments and fines.
E-gold was closed for‍ way much less of wrongdoing in 2009

Even now they do not do proper KYC/AML⁠ checks. I think they will eventually loose all fiat partners. Other way they would have⁤ to hire thousands of people for AML

 

[sharklasers]

Democrats are in power now and won't lose this opportunity to inflict damage on 'damned‌ cryptocurrency'. Not that republicans love it either but at least they have been keeping appearance‍ of being neutral.