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>If only there was some kind of virtual cash that could be sent from one party to another almost instantly without an intermediary If only such a system wasn't
by Klonoar 4y ago
>If only there was some kind of virtual cash that could be sent from one party to another almost instantly without an intermediary
If only such a system wasn't ripe with fraud, get rich quick schemes, and the same general predatory behaviors found in our systems with intermediaries yet lacking the ability for the common user to have some ability to recover when things go wrong.
Alas, such a thing does not exist. ;P
- dotancohen 4y agoThose problems exist with physical cash. Why should I care that other people engage in fraud with the same currency that I'm using for a legal transaction? Why should I care that other people engage in get rich quick schemes with the same currency that I'm using for a legal transaction?
- Klonoar 4y agoLegal cash is not the thing being discussed here, you don't need to shift the goalposts. ;P
- docflabby 4y agoThe problem is the intermediaries often add no value or help facilitate the fraud or refuse to help get the money back. I lost £150,000 to a fraudulent account the bank knew about https://www.theguardian.com/money/2022/dec/14/i-lost-150000-to-a-fraudulent-account-the-bank-knew-about https://www.theguardian.com/money/2022/dec/14/i-lost-150000-... Bank transfer scammers steal £700,000 a day from UK victims https://www.theguardian.com/money/2021/may/28/bank-transfer-scammers-steal-700000-a-day-from-uk-victims https://www.theguardian.com/money/2021/may/28/bank-transfer-...