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It almost doesn't matter, for example the safemoon team's scams are documented on the Blockchain but the investors don't care. We can't underestimate the financ
by cuteboy19 3y ago
It almost doesn't matter, for example the safemoon team's scams are documented on the Blockchain but the investors don't care. We can't underestimate the financial cultism of crypto people
- jqpabc123 3y agoCrooks need accounting too. Most fraud doesn't revolve around fudging the accounting. SBF made billions of other people's money disappear into the crypto void without breaking the blockchain. The idea that blockchain will prevent fraud is naive, absurd and laughable.
- blockabot 3y agoThe blockchain does prevent fraud as it is transparent, it just requires the end user to in essence wipe their own ass.
- cuteboy19 3y agoPseudonymity is not transparency. Transparency in theory is not transparency in practice.
- jqpabc123 3y agoBlockchain is just an accounting tool. It doesn't make judgments about those using it. It works just as well for fraudsters and cyber criminals as anyone else. There are reasons ransomware extortionists always request payment in some sort of blockchain based crypto --- usually bitcoin. In other words, blockchain *facilitates* fraud and crime as easily as it *prevents* it.