Re:Binance US No Longer Allows USD Withdrawal for Users
by mrguyorama on Wednesday October 18, 2023 @02:49PM
(#37932985)
> "get rich quick" grifters and speculators took ahold of it
Every single "feature" touted as a good thing by crypto boosters is exactly WHY grifters and conmen got into it.
The system doesn't even have a concept of a "fraudulent transaction" FFS. For a system built by people who claim to know so much about cryptography and computer security, they sure seem stumped by the very simple concept of "someone tricked me and I clicked on a link" which is still the number one problem in computer security.
The lack of transaction reversal is a god-send for crooks. The lack of a justice system is a boon for them. There's a reason they don't even have to be creative with their scams, and are just dusting off old play books from the 1920s.
Crypto isn't shitty because of bad luck, crypto is shitty because the people who built it are completely ignorant of the value of regulation because they are caught in their ideology that all regulation is bad.
Every single "feature" touted as a good thing by crypto boosters is exactly WHY grifters and conmen got into it.
The system doesn't even have a concept of a "fraudulent transaction" FFS. For a system built by people who claim to know so much about cryptography and computer security, they sure seem stumped by the very simple concept of "someone tricked me and I clicked on a link" which is still the number one problem in computer security.
The lack of transaction reversal is a god-send for crooks. The lack of a justice system is a boon for them. There's a reason they don't even have to be creative with their scams, and are just dusting off old play books from the 1920s.
Crypto isn't shitty because of bad luck, crypto is shitty because the people who built it are completely ignorant of the value of regulation because they are caught in their ideology that all regulation is bad.