South African Brothers Vanish, and So Does $3.6B in Bitcoin Exit Scam

Re:South African Brothers Vanish, and So Does $3.6B in Bitco... by sokoloff on Wednesday June 23, 2021 @04:03PM (#27609424)

https://www.nacha.org/news/ach-network-moves-23-billion-paym... is where I got the data on total volume.

I took the 1% from you, assuming you got it from somewhere reliable or at least that you believed in it. (I looked for it in the report summary; I didn't find it; I assumed you got it from the full report, which I don't have access to.)

If the correct figure is 0.08%, that's almost $41B on $51T (more now, as the network volume continues to grow).

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Re:South African Brothers Vanish, and So Does $3.6B in Bitco... by NicoJuicy on Wednesday June 23, 2021 @04:13PM (#27609605)

Sure. Thanks for correcting me and sorry for the inconsistent number at first. It wasn't easy to find numbers since most just retold the original mentioned article without absolute numbers.

But the entire fraud /year is way less percentage then this sole scam from the entire Bitcoin market cap valued against its peak.

So his comment is actually a net positive for traditional payments ( even if you neglect insurance, ... )

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