Ryan Grim pfp
Ryan Grim
@ryangrim
If blockchain allows this, how is it not worse than the current system? This is a massive portion of all crypto transactions https://x.com/molly0xfff/status/1915148232574804193?s=46
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ted (not lasso) pfp
ted (not lasso)
@ted
at least read the report lol. “if blockchain allows this” is pretty intellectually dishonest, come on :) if you go to the actual report, the majority of these 60+ adults are sending fiat $$ to people who promise them returns for “crypto.” this is self-reported fraud that could happen with gold, stocks, etc.
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depatchedmode pfp
depatchedmode
@depatchedmode
My mother-in-law has dementia and, given my anecdotes, I have no idea what the size of theft from seniors by banks, insurance, etc occurs in ways that are technically not even illegal. But it must be hundreds of billions. Bad people everywhere.
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𒂭_𒂭 pfp
𒂭_𒂭
@m-j-r.eth
idk if that's accurate, cumulative volume on Ethereum is multiple trillions, and 30 days is 5x that total, etc. in terms of phishing, I would also contend that an overwhelming majority of losses come from DeFi, and I doubt that users average age is anywhere near 60. I think there's quite a few flaws in overall finance, like the billions in annual overdraft fees. blockchain is immutable, so vulnerable consumers probably should stick to banks using stablecoins (cause they're insured). that being said, we do have to roll out systems that survive without fiat, and a lot of protocols are battle-hardened and serve an economic niche. we also should continue our work in cybersecurity, since crypto does form the front lines. I think all citizens should be protected from SIM and email vulnerabilities, part of that is a credibly neutral namespace that can't be faked. the entire subject is a rabbithole of nuance, and Molly's agenda is what it is. https://defillama.com/dexs/chains
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Max Jackson pfp
Max Jackson
@mxjxn
As it is, it definitely is worse than the current system. No privacy, terrible security, high learning curve. It just isn't a candidate in general.
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Evan pfp
Evan
@evangreenberg
What do you think? Should they cancel the tour?
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callum
@csmit
Depends on what you consider to be fraud… the establishment will never consider bank bail outs, mass scale insider trading, flip flop tariffs, lobbying as “fraud”… and yet it probably costs us trillions (although to put a number on it denies the real impact it has on society)
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Borg pfp
Borg
@ruz.eth
1. The regular system eclipses this by several orders of magnitude. Just two days ago helped someone who bought 4 $500 Apple gift cards for a scammer - how is Apple allowed to operate allowing scammers to profit like that? 2. Were they actually *crypto* scams, or were they regular fiat scams that falsely offered crypto riches? Not clear how those two are reported on differently. 3. Even if a custodial system were empirically better than a self-sovereign system (and it just isn’t), it would STILL be better/faster/cheaper/safer/more efficient to build that custodial system on top of crypto.
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Sjsjsj pfp
Sjsjsj
@sjsjsj7
🥲
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Borg pfp
Borg
@ruz.eth
Just happened upon this thread and thought of your question. Give it a look: https://x.com/doctorow/status/1915378111849656694?s=46&t=m1Jlf0dojyC4eiPyQZXD5g
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I Am Steve pfp
I Am Steve
@pederzani.eth
To put this in perspective, Bernie Madoff alone was a $64.8 billion situation. The dollar figure is based on IC3 complaint data, I wonder how much of that are people who averaged a loss of $65,000 but have liquid annual net worths in the 7-8+ figure range.
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Trish🫧
@trish
It’s not
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KapaskieVibes pfp
KapaskieVibes
@kapaskie
The difference is we can actually see it happening now, doesn’t mean it’s perfect, but at least it’s out in the open. Still a lot to fix though
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samgslastlife pfp
samgslastlife
@samgslastlife
Also don't underestimate the ruthless improving efficiency of scammers. Can't remember where I read/heard this but the trend of scam emails with things obviously misspelled, or scam calls from numbers nearly spoofing your own are all designed to WEED OUT people smart enough to pickup on the scam. If they get you on the hook after sending out a scam that is half assed, they know you're that much more likely to go all in.
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samgslastlife pfp
samgslastlife
@samgslastlife
Honestly curious how much that QR code component plays in that rise because while they have been around along time, QR codes didn't seem to get a ton of public implementation (restaurants, non tech-centric settings) until post covid.
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