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Block Shares Fall As Hindenburg Accuses Company Of "Fraud Facilitation"www.zerohedge.com/markets/block-shares-slip-after-short-seller-hindenburg-accuses-company-fraud-facilitation-says
83 sats \ 6 comments \ @k00b 23 Mar 2023 bitcoin
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5 sats \ 1 reply \ @Wumbo 23 Mar 2023
https://www.cnbc.com/2023/03/23/block-shares-plunge-after-hindenburg-says-jack-dorseys.html
“Former employees estimated that 40%-75% of accounts they reviewed were fake, involved in fraud, or were additional accounts tied to a single individual,” the report said.
Lesson for the class: When you list one percentage range and then associated it to multiple reasons, you have know clue how the different reasons are proportioned.
Is it 99% users who have more than one account (which I don't know why that would be an issue) and 1% involved in fraud. Or is the other way around.
Also what is considered fraud?
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0 sats \ 0 replies \ @faithandcredit 23 Mar 2023
If KYC and AML wasnt a thing there would be little to no incentive to create "fake accounts".
Its like how the government makes certain drugs illegal, and then all of sudden they can do a headline "See! All sellers of the drugs are criminals" its technically true, but only because they made selling the drugs a crime.. But why did they do that?
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3 sats \ 0 replies \ @siggy47 23 Mar 2023
I just read this article and posted a few minutes ago. This is a serious attack on Jack. Traditional finance would be much happier if Jack was out of the picture.
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0 sats \ 0 replies \ @shyfire 23 Mar 2023
"$SQ is a buy!" "No, stack sats." "Supporting SQ will help hyperbitcoinization though?" "Stack moar sats." Voices in my head...
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0 sats \ 0 replies \ @faithandcredit 23 Mar 2023
"CEO Jack Dorsey has publicly touted how Cash App is mentioned in hundreds of hip hop songs as evidence of its mainstream appeal. A review of those songs show that the artists are not generally rapping about Cash App’s smooth user interface—many describe using it to scam, traffic drugs or even pay for murder."
Is this supposed to be taken serious?
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0 sats \ 0 replies \ @gunson 23 Mar 2023
Some of this is bullshit "Block didn't comply hard enough", but some of the fraud allegations seem to need answering.
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