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Speculation, get rich quick schemes and scams. They will exist no matter what. At least the barrier to entry to get scammed is higher with crypto than just onli
by dovys 1y ago
Speculation, get rich quick schemes and scams. They will exist no matter what. At least the barrier to entry to get scammed is higher with crypto than just online payments
- Synaesthesia 1y agoNo, scamming people is much easier with crypto. The transactions are irreversible, for one.
- akritrime 1y agoAs it is with cash.
- superjan 1y agoAnd crypto scamming is anonymous, low risk and can be automated. Scamming people for cash requires you to get close to each of your victims.
- PartiallyTyped 1y agoCash is backed by a government, which can coerce parties into following the law.
- FabHK 1y agoIndeed. The Economist estimates the modern scam industry to be as large as the illicit drug trade by now, around $500 bn annually in revenue. Enabled in large part by crypto (pig butchering, ransomware, rug pulls were not a huge thing before crypto).
- t1E9mE7JTRjf 1y ago> They will exist no matter what Ok, so then they're not a bitcoin thing then right?