It doesn't bypass the rule. It just creates an alternative american market for it.
You can still buy bitcoin following the rules of bitcoin if you chose so.
Its a totally different market though if you aren't buying actual bitcoin.
People can play around with derivatives all they want, there's nothing wrong with that. But to even call these a bitcoin ETF is disingenuous at best. All this is is a new fiat money with a "bitcoin" sticker slapped in the box.
The article doesn't provide someone that understands crypto when their focus is solely on the bad.
Check one of the biggest projects, Polkadot and their Substrate framework. It's an amazing work just from a technical point of view. Lots of projects are non-profit.
There are legit projects. There are many bad projects. HN people generalize and the ones that know the legit projects understand discussing is a waste of time.
You just join IPFS with things like https://crust.network/ and that's 'sufficiently decentralized'. People confuse decentralized with sufficiently decentralized which is what most Dapps are focusing.
> This describes every place on Earth except -- arguably -- Venezuela and Somalia.
That's just ignorance. Argentina, a G20 member, has had banks not allow it's citizens access their accounts in 2002. Currently they don't allow their citizens to buy dollars and have a black market for it. Banks change rules constantly trying to adapt to new laws. This is a similar thing occuring in many countries.
Russia and Ukraine have also strong issues due to the current situation, and citizens are adopting crypto because of it.
Just because you don't know about it, doesn't mean it doesn't exist.
>And the solution to Venezuela and Somalia is to fix the government
Oh. So as a citizen I have to just fix my goverment! Thanks for the suggestion.
Argentina has a curious economic situation but inarguably the rule of law and a coherent banking system. Russia self-subverts their currency but is otherwise stable. Ukraine is under siege so many things are up in the air. None of these nations qualify under your rules.
And yes, you have to fix your government. That's how society works.
If it helps you understand, there's blockchains being built with close to none tokenomic concept to it. Meaning, there's no value on investing on their token but on using the platform. In some cases it's posible, in others it's not since you need to leverage costs/incentives in some way (but they still manage for it to remain low price through inflation, etc).
OpenSea is a DAO, so if they:
a) voted an NFT out: well, people against it would move to an other platform and still have access to their NFT.
b) somoeone on the front-end deleted access to an NFT: they would probably move the front-end somewhere else.
