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«This is exactly why crypto is such a disaster.» Correction: this is exactly why MONEY is such a disaster. There has always been scams involving money since,
by mrb 5y ago
«This is exactly why crypto is such a disaster.»
Correction: this is exactly why MONEY is such a disaster.
There has always been scams involving money since, well, since money was invented. You guys portray crypto as being particularly terrible, but the truth is there are hundred times (or more) more money being lost to scams involving the US dollar or the Euro. Crypto is no better or no worse in this regard. Some people will always make dumb mistakes with their money. For example just in the US alone, last year, $5.8 billion was lost to fraud: https://www.cnbc.com/2022/02/22/consumers-lost-5point8-billion-to-fraud-last-year-up-70percent-over-2020.html https://www.cnbc.com/2022/02/22/consumers-lost-5point8-billi... that's excluding 7.6 billion people outside of America, or money lost to causes other than fraud (eg. theft), etc, etc
- NicoJuicy 5y agoPercentage wise, crypto is obviously the scam king.
- audiometry 5y agoCrypto is far worse. You need to normalize the amount-looted by the amount of transactions conducted. Very clearly 'traditional' finance is far safer. There's a reason financial institutions are annoying and stodgy -- they have centuries of hard-lessons-learned. Crypto 'disruption' is mostly throwing away that painful experience.
- mrb 5y agoBitcoin alone, excluding other cryptos, transacts 1500 billion USD per year. How much is lost to fraud yearly? 2 billions? That's 0.13%. Does fiat lose less than 0.13% to fraud?