3 ms·
Maybe because Satoshi specifically mentioned preventing fraud in the original Bitcoin whitepaper. Blockchain/crypto enthusiasts frequently tout the supposed tra
by gregjor 4y ago
Maybe because Satoshi specifically mentioned preventing fraud in the original Bitcoin whitepaper. Blockchain/crypto enthusiasts frequently tout the supposed transparency of an immutable public ledger as a way to prevent fraud. I know they refer to the kind of fraud and financial corruption that led to the 2008 bank meltdown, not necessarily sellers defrauding buyers of NFTs, but the FTX crash seems more Lehman Brothers scale than "this beanie baby is fake" scale.
- smsm42 4y agoLehman was a legit business that got caught with some risky bets and, for various reasons, it was decided to let it go down. That may be analogous to the situation with Alameda (minus the drugs) - but FTX is more like a cross between Madoff (affinity fraud) and degenerate gambling.