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Bitcoin/Ethereum is what allowed these scams to be executed, not be reverted, and to go unpunished. If you want to push for those technologies, you have to exp
by BoppreH 5y ago
Bitcoin/Ethereum is what allowed these scams to be executed, not be reverted, and to go unpunished.
If you want to push for those technologies, you have to explain how to give consumers a minimum level of protection.
- surfingdino 5y agoThere are plenty of ways and tools for the scammers to be tracked on a public blockchain. Tokens are not worth much until they are exchanged for fiat currency. The authorities do not want to chase after them, yet, but anyone engaging in such fraud is leaving plenty of evidence on public, cryptographically protected blockchains to provide evidence that's difficult to repudiate. Sooner of later those responsible will be brought to justice. I am working with people in the banking industry to add a layer of protection without compromising core values of crypto (permissionless, trustless), but funnily enough they do not want to do anything against the regulators. Retail banks have become very cautious after 2008 and won't do anything unless they are told to do it by the regulators. And the regulators are a bit clueless, tbh.