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 FabHK on Wednesday June 23, 2021 @07:31PM (#27611916)

> 0,08% or 0,0008

Where are those numbers from?

> For example, eight percent is equal to 800 basis points.

Correct. 800 bp = 8% = 0.08 = 8e-2, as in your example there (different than the numbers in the linked article).

Also, 8 bp = 0.08% = 0.0008 = 8e-4, as in the numbers you gave at the top (different than the numbers in the linked article).

Also, 0.08 bp = 0.0008% = 0.000008 = 8e-6, as I’ve pointed out (and corresponding to the numbers in the linked article:

> ACH fraud is extremely low at 0.08 basis points, or 8 cents for every $10,000 in payments.

Note that 8 cents are $0.08.)

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Re:South African Brothers Vanish, and So Does $3.6B in Bitco... by NicoJuicy on Thursday June 24, 2021 @02:45AM (#27614630)

Omg. 0.08 basis points is indeed in the article.

I checked it 2 times and always parsed it as 8bp... And not 0,08bp.

I feel embarrassed now. Nice job :p

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Re:South African Brothers Vanish, and So Does $3.6B in Bitco... by FabHK on Thursday June 24, 2021 @11:06AM (#27618694)

No worries. Basis points are somewhat weird if one is not used to them, and the article is a bit cheeky in that it mixes cents and dollars, making it extra confusing.

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