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I would not call it preventing fraud, rather simplifying global money supply and making it more transparent, which in turn could prevent fraud due to smaller at
by jraedisch 8y ago
I would not call it preventing fraud, rather simplifying global money supply and making it more transparent, which in turn could prevent fraud due to smaller attack surface and more eyeballs.
- jayd16 8y agoBut this is just a pipe dream. You would just have fraud hidden away in Swiss bitcoin accounts and wallets in the Cayman islands. Isn't it just less privacy for the naive user and business as usual for the fraudster?
- jraedisch 8y agoYou are correct in that money can and will still be used for fraudulent activity. But the system itself (so far) could not be corrupted. So there is a class of systemic manipulation, that becomes a lot harder with Bitcoin (e.g. inflating money supply).
- jayd16 8y agoIn theory, but in practice it seems easily manipulated.