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> "every cryptocurrency system is a fraud at its heart." I'm not sure I agree with you on that part. Fraud is defined as "wrongful or criminal deception inten
by duncancarroll 4y ago
> "every cryptocurrency system is a fraud at its heart."
I'm not sure I agree with you on that part.
Fraud is defined as "wrongful or criminal deception intended to result in financial or personal gain." Encryption-based currency by itself does not meet that definition.
Can people use crypto to commit fraud? Yes, just the same as they could use fiat or anything else that has perceived value.
imho the main value of crypto as a technology is that it is A) decentralized, and B) removes many intermediaries & inefficiencies involved in handling + distributing money. </$0.02>
- NelsonMinar 4y agoYou misquoted me; I said "almost every cryptocurrency system" for a reason. A thread where we're discussing a guy using $10B of $16B of cryptocurrency customer deposits to finance his private hedge fund gambling is not a good place to try to make your argument.