Re:Czech bitcoin exchange Bitcash.cz hacked, up to 4,000 use...
by vijayboyapati on Tuesday November 12, 2013 @07:15PM
(#6722421)
Using relatives is fine; my only point is that bitcoin is new and interesting and newsworthy and the negatives tend to get focused on. I honestly do not think that crime is more rampant in the bitcoin economy than the dollar economy. And this is just considering financial theft, and not institutionalized crime - e.g., innumerable instances of malfeasance committed by large banks or the wholesale robbery of the population through inflation of the dollar. Considered in total, I think bitcoin represents a far more honest and less crime-prone monetary system.
This is true, yet means absolutely nothing. You're using absolutes when you should be using relatives.
If in a pool A of a hundred transactions one is a fraud, and in a pool B of ten thousands transactions a hundred are frauds, both pool present the same risk of a transaction being a fraud despite one having orders of magnitude more frauds than the other.