4 ms·
>the true purpose of crypt Fraud?
by oldjim69 1y ago
>the true purpose of crypt
Fraud?
- udev4096 1y agoClearly there are way too many bad actors now which makes it seem like a fraud to anyone from the outside
- jjulius 1y agoYou've essentially just backed up the quote from your first post with this comment.
- jvanderbot 1y agoA system that enables a proliferation of fraudsters _might_ have an inherent flaw that needs addressing.
- udev4096 1y agoAs if the banking system is any better. How can any legitimate payment system which has no cryptographic operations, is highly centralized, where the money can be printed out of thin air and way too many other reasons, be taken seriously?
- jvanderbot 1y agoI'm so glad to witness the evolution from "Revolutionize finance" to "No worse than banking most of the time, right?"
- rjbwork 1y agoSomehow 99.999% of the world's economy takes place upon it. Is all economic activity from the advent of banks to now not to be taken seriously?
- deleted 1y ago[deleted]
- derektank 1y agoBecause it works, and we've developed massive institutions (the federal reserve, FDIC, SWIFT, credit rating agencies, and other financial market utilities) to keep it working in a way that benefits the vast majority of people that use money
- x0x0 1y agoBut what about theft?
- praptak 1y agoFraud is a tiny sliver and it would be unfair to judge crypto on that alone. There's also ransomware, extortion, payments for drugs and theft by North Korea hackers.
- oldjim69 1y agoTouche! They have gotten so innovative with it
- kjs3 1y agoYou missed arms dealing, human trafficking and sanctions avoidance, but then there seems to be a lot of cryptobros who would think those are features not bugs.
- karmakurtisaani 1y ago> there seems to be a lot of cryptobros who would think those are features not bugs. That's an unfair generalization of a completely normal group of people who just want to own islands where age of consent doesn't exist.