Okay, that is an interesting and fair point.

You are saying because these types of verified logs can't control for other variables, they do not represent a "complete" set of the system, and therefore aren't as useful for fraud analysis? Hmm.

But this is where I feel like calling a cryptocurrency economic model a "blockchain" is just a silly misappropriation of a word. To me, clearly "blockchain" is not like "capital" or "communes", a blockchain is a cryptographically verified data structure. However, I do hear a lot of people throwing around the word "blockchain" just to reference an economic model, which seems excessive.

I like your point though, and well described.