I guess I should have seen this coming but I didn't think it would be so soon. Binance is creating an exchange in compliance with USA regulation and banning American IP addresses from trading/depositing on the main site.
https://cointelegraph.com/news/binance-to-stop-serving-us-traders-following-announcement-of-us-dedicated-platform
https://www.theblockcrypto.com/2019/06/14/us-customers-to-be-blocked-from-trading-on-binance-com/
After 90 days, effective on 2019/09/12 [12th September 2019], users who are not in accordance with Binance’s Terms of Use will continue to have access to their wallets and funds, but will no longer be able to trade or deposit on Binance.com.
While the use of a virtual private network could ostensibly allow U.S. users to circumvent the new restrictions, withdrawals for non-verified users remain capped at up to 2 bitcoin (BTC) per 24 hours— worth $16,482 to press time. Sums above this threshold would require users to provide evidence that they are complying with the platform’s Terms of Use.
This was exactly what I was thinking before I even read it. I'll be looking at Tor and VPNs in the future and blogging about them for sure.
Earlier this month, it was reported that the decentralized exchange (DEX) developed by Binance will use geo-blocking to restrict website access to users in 29 countries, including the U.S.
How can it even be called a DEX if you can geo-block 29 countries? LOL, what a joke. Again, what happens if you use a VPN?
Clearly, the elite is floundering to put a lid on this decentralized revolution. I wonder how effective that's going to be, seeing as using a VPN or Tor gets you around the problem. And that's just the short-term solution. What happens when a real DEX pops up that has real volume? What will you do about that? There is no way to bring a real DEX into compliance. Again, they have to ban the ISPs from allowing us to access it.
But again, it comes back to being able to use VPN and Tor... and then what happens if the Internet itself starts becoming decentralized and the ISP monopolies start getting broken up? There is a tipping point here. One that is very far off in the future, and it will crack and shatter the very fabric of how we do things today.
Return from The Binance Party Is Over to edicted's Web3 Blog
