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Shatnerz

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I still don't understand how anyone expects "sanctioned lists" to actually work.

Well one of the problems here was the sanctioning of a technology, which AFAIK has never happened previously.

Exchanges have the means to work with regulators, demonstrate good faith, and get themselves removed from any accidental sanctioning. This doesn't exactly apply to small tips akin to BuyMeACoffee.

Bitcoin may not be the best example because it does have a lot of limitation and somewhat failed as a currency and instead turned into a speculative store of value. Block time on Bitcoin is ~10 min. For small purchases, you would probably be fine with 1 confirmation, but a 10 minute wait is terrible UX. There is lighting which is a layer on top of bitcoin which is much faster, but the UX is still a bit clunky.

But in general, I agree that cryptocurrencies could help the problem, but it still carries the compliance and AML risks unless you can outsource that to a 3rd party. What happens if you accept funds from an OFAC or other sanctioned account? Violating AML can come with huge fines and is generally just a massive headache. Cash doesn't have these issues as the evidence is generally impossible to track well. With nearly all cryptocurrencies, the entire ledger is open, so if you accidentally accepted payment from the wrong person, you could get royally screwed at some later time.

I wouldn't be surprised if that was directly adapted from the anecdotes of Harry Nyquist at Bell Labs [1].

""" After crunching a lot of data, they found that the only thing the productive employees had in common (other than having made it through the Bell Labs hiring process) was that "Workers with the most patents often shared lunch or breakfast with a Bell Labs electrical engineer named Harry Nyquist. It wasn't the case that Nyquist gave them specific ideas. Rather, as one scientist recalled, 'he drew people out, got them thinking'" (p. 135). """

1. https://en.wikipedia.org/wiki/Harry_Nyquist

This is called "layering"

I believe it is actually "structuring".

Layering is a step in money laundering where layers of legitimacy are added as money moves around. Structuring is breaking larger transactions into smaller transactions in order to avoid detection. Smurfing is also similar to structuring and honestly I don't understand the difference well enough to explain, but they are often used interchangeably in my experience.

edit: Here is a short educational video on the topic of money laundering: https://www.youtube.com/watch?v=RhsUHDJ0BFM&t=90s

Inflammatory? "My Negative Views on X" is pretty far from inflammatory. It is exactly what the post was, with some positivity sprinkled in as well.

Not moving my family to Texas, Florida, or Alabama, for anything. Beautiful states, but I have a daughter.

Are women not safe in these states? I'm not sure I'm picking up whatever you are implying.

When you find yourself asking this question, the truth is that you probably should have left a few month earlier. Things rarely improve. Take care of your finances and never put yourself in a position where you are dependent on a job if it is avoidable. It really helps with keeping a clear mind in making these decisions and greatly reduces stress around job changes and uncertainties.

Wouldn't it have to have happened after the plant shutdown in order for it to coincide? If it happened prior, then it would have been clearly unrelated. If you shut down a power plant and run into power issues down the road, a connection seems likely.

Is my cash compensation adequate? A down-round can make stock grants worth almost zero unless there's a huge rebound.

Most startups fail and options and equity become worthless regardless.

In my experience, the biggest changes will be in morale and company culture. There is a chance that the company gets hit by the "Dead Sea Effect", all the talent starts leaving because they can find better opportunities while the lower tier devs stick around.

They are currently worth $200,000

According to whom? Is there a secondary market or is this just the FMV from the last valuation? If there is no liquidity, they might be "worth" $200k for tax purposes, but as with most startups there is a chance that everything falls apart and that there is no liquidity event.

exercising them would cost me $25,000

I would double check what your expected tax bill would be, because it sounds like you might have $175k worth of paper gains. The effective cost to exercise might be much higher depending on where you live and your tax situation.

Lastly, if you are the Head of Product at a startup, I would assume that you could find a high enough paying job so that $25k isn't a significant burden on you, assuming you don't live above your means. Getting some offers may help you decide in the end.

There are also plenty of annual cicadas in North America, which I assume you are talking about NA with the 13 and 17 year brood cycles. While not nearly as loud as the broods, annual cicadas have always been a sure sign of the seasons. I have always considered the end of summer when the cicadas stop singing. They become such a constant background noise that it is easy to forget that they are even there if you have lived in the area for awhile.

The transfer of value is pretty nice. International transfers via crypto are often cheaper than wire fees. Domestic transfers can be faster via cryptocurrency depending on where you are at. ACH is painfully slow. SEPA is a a bit better. That being said there is a tradeoff. You lose clawback mechanisms in favor of independence and control.

Can any financial system exist without financial crimes? Just look at HSBC. Nearly all of Binance's failures also happened at HSBC which continues to operate within the law simply by paying fines as the cost of business every so often.