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The fraudster loses more than zero, that the whole point. If you're buying a $200 iPod, both you and counterparty make a $400 deposit. If seller takes your mone
by DenisM 13y ago
The fraudster loses more than zero, that the whole point. If you're buying a $200 iPod, both you and counterparty make a $400 deposit. If seller takes your money but never sends you the iPod, you punish him for $400, so he is $200 in the hole.
If the honest people outnumber fraudster, fraudster a lose.
- dllthomas 13y agoStrictly, there has to be at least as many people willing to punish than there are people unwilling to punish amongst the people the fraudster targets for the fraudster to lose all the gains from their scam. I don't know that this radically changes anything, but it's not quite the same thing as honest people outnumbering fraudsters.