Bitcoin Forum

I see that some people are going after binance and other big exchanges for still supporting Russian people, the thing is these big exchanges understand what crypto is more than the accusers, you can't just expect the exchanges to block off or freeze Russian people's accounts.

Crypto is generally for the PEOPLE.

Crypto is FREEDOM.

If you go for decentralized and noncustododial means, then it is freedom. Custodial exchages are not decentralized. Never forget that they have the full control, they can freeze and unfreeze your account at any time as they wish.

They are not supporting the Russian people, they are just not completely violating the rights of its users. Blocking accounts of citizens simply because the leader of that country started a war is invasive and does nothing to solve the issue, it only suffers the citizens.

The big exchanges hardly understand decentralized currencies and actually do freeze accounts arbitrarily as well as divulging the personal information of her users. This is just one line they are not willing to cross. Your funds are however safer in a non custodian wallet.

Freedom comes with Defi not centralized exchanges like binance and others, Defi is the real future and once people finally understand this banks won't matter anymore.

Binance donated to Ukraine (https://www.binance.com/en/support/announcement/6bce8615076a4173a4738817c597b09e) as a form of humanitarian crisis support. The blocking of Russian accounts, which the pursuers hoped for, was not an act of support for Ukraine, but a form of discrimination against some Russians who did not support this invasion. There's no way Binance will sort out the Russian users for and against their president. The only way is to try to be as neutral as possible and hold their own user policies as the strongest policies that cannot be influenced by certain political situations.

If crypto can be manipulated like the normal money, then why we need to use crypto in the first place? No way... I support russia with crypto.

It would only be a problem in the first place if you leave your funds(or are totally reliant) on exchanges. Don't want getting locked out of exchanges? Use non-custodial wallets and peer-to-peer exchanges. Simple.

You are talking about freedom using binance exchange for an example which is a centralized platform? That's no freedom mate only dex, defi and p2p platforms performs the real decentralization.

I think why the fact that bianance and other big Exchanges hasn't yet blocked Russia is because many Exchanges aren't decentralized anymore. I really believe in peace and I pray the whole world heals, but this is Crypto, and also many innocent Russian are Crypto enthusiast, as a decentralized that has always been that way locking them off isn't an option.

You think they can't? I do not think so.

Every single one of these centralized crypto exchanges are regulated and governed by the laws in their respective jurisdictions. In the event that there is a suspicion of fraud, theft, money laundering or any other illegal activity, do you think they will not freeze the account as per the court order?

The same thing applies here. They can (and will) do whatever the law requires.

Because they don't know, they will not love, because they don't understand, they will hate, because they only know from one side, they make their own judgment.
This is very usual to happen in this world moreover about a crypto industry where there are still many FUD that area around.
We cannot force all of them not to hate crypto. But at least, we can notify them, moreover people that we know and we can reach) about what crypto is from two sides. So they can consider its pross and cons.
Thye only needs balanced news about crypto so that they will not only think from one side, the negative side.
However, if they close their mind to crypto and they only think about crypto having more risks and weaknesses, what we can do?
We cannot also guarantee that crypto is zero-risk. ANd we also cannot guarantee that crypto investment will always make us rich.
And we also cannot guarantee that crypto investment is always safe.
That is why, explain what we can as possible, but the final decision is themsevles.

Binance said that banning Russian accounts or users is unethical that's why they don't have to do it. It's understandable that they're neutral and has also sent help to Ukraine.

We understand that the hatred that's being placed upon Russia is there. But that attack doesn't speak for the whole Russians. There are still peace loving Russians that don't like what's happening and do condemn the attack of their government.

News --> https://www.aljazeera.com/news/2022/2/27/more-than-2000-arrested-at-anti-war-protests-in-russia

And that's why those that have joined the protest of stopping the attack in Russia have been arrested by their government.

People who still don't understand the importance of private key ownership, please visit Notyourkeys.org (https://notyourkeys.org/) from which you will see how many exchanges hacked in history (probably not all are mentioned on that website) and how serious loses people suffered from such hacks.

If you store your coins on centralized exchanges and they get hacked then eventually just say they got bankrupted, no compensation at all for their users. Or if they pull their scam exit on behalf of hack, you will lose your money.

Use non custodial wallets and have your own banks, your control on your cryptocurrency.

This has nothing to do with hate, crypto freedom, censorship,... It is all about the fact that a large number of people are brainwashed by the media and follow the orders that it dictates. So far the media has been dictating that Russia is this big evil bogyman that they should fear and condemn so they are obeying.

Otherwise if the brainwashed people in carrot countries wanted to condemn aggression there has been at least a dozen much bigger invasions in the past 2 decades that were more illegitimate than the Ukraine situation with a much bigger damage and casualties. And yet they were mute all this time :P

Crypto is really FREEDOM but Centralized exchange like Binance is not because CZ is the one who will decide what will be the move of the exchange in every decision making. Its highly dependent to the CEO unlike Decentralized Exchange which people will decide if they will add or remove liquidity in the exchange. Good thing is CZ follows the crypto principles maybe for publicity for purposes but he can easily freeze russian accounts since he is not tied to crypto principle since Binance is CEX and follow reegulators law.

I'm not a fan of CZ principle most of the time but I respect his decision this time but I wonder how long he can hold on that once regulators knock on his door.  :D

No, you may expect these centralized exchanges to block or freeze Russian accounts. They are not Bitcoin. Binance is not Bitcoin. Binance does not represent the spirit or philosophy of Bitcoin. Bitcoin is freedom; Binance is not. Bitcoin does not discriminate. Bitcoin does not have the ability to identify Russians from other nationalities. Bitcoin cannot tell whether a person is a man or a woman, pro or anti democracy, in favor or against the Russian invasion, and so on. So you cannot expect Bitcoin to act or respond in times of geopolitical aggressions. But, again, Bitcoin is not not Binance or Bittrex or Huobi or Kraken or whatever centralized and privately owned companies.

Central exchange always choose profit and with a simple calculation, you will find that supporting the Ukrainian position is more profit than supporting the Russian position, although these platforms may not have a problem with Russia and may allow Russians to deposit and withdraw.

The lesson that must be learned is that when you deposit in centralized platforms, they own your money and they can use it from you, and then your cryptocurrencies will become useless and move to shares controlled by worse parties than the stock exchanges.

Note that with some cryptocurrencies, even when you withdraw to your wallet, your funds can be frozen and therefore it is not dcentralized like BSC & USDT.

It is human nature to hate what they cannot comprehend. This particular act is commonly found among religious believers, a Christian to hate Muslim beliefs and vice versa. The actual reasons for this hatred is because the christians don't understand the foundation of the Muslims beliefs and they think is it wrong to practice these beliefs. In a place where adequate understanding is found u find out mutual interest and love among both parties. Another case, is that of a student. A student will automatically hate a subject and its teacher because he/she don't understand that subject. The main reason for that hatred is lack of understanding. Where understanding is, there is love and unity. People will always hate what they fail to understand.

For many newbies, they're having the misconception of this even if they argue that they are even holding Bitcoin.
This is why I separate my money between custodial ones and non-custodial ones. I use custodial wallets whenever I wanted to use some of their services, like for say example buying credits for my network service provider.
But for the sake of holding my own savings in crypto, it would be in a non-custodial of course.

Yes, it seems to be weird enough when we hate something that we don't really understand. Does it seem like we are only a judge that judges from one side only? And this will not be balanced for we actually should know and judge something from both sides, the advantages and also disadvantages.
I personally will appreciate people who have known both sides and give their own consideration or opinion about crypto. But not telling the fake comments based on his nonsense or misunderstanding

Decentralised exchangers is Freedom and you can control it yourself but Centralised exchanger is not Freedom . Cex exchanger have a authorised team they controlled whole exchanger. you can just control your deposit, withdraw and trading but you can’t guarantee your account security it is totally depended in exchange authorised  team.