5 sats \ 1 reply \ @Wumbo 23 Mar 2023 \ on: Block Shares Fall As Hindenburg Accuses Company Of "Fraud Facilitation" bitcoin
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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