Cybercrime on the Ethereum Blockchain
An academic paper investigates how Ethereum is a criminal’s first choice for cybercrime:
“We identify more than 1.78 million transactions that are externally verified to be linked to cybercrime, corresponding to an aggregate amount of $1.65 billion of funds lost. In a first step, our analysis shows that the FTC understates the amount of abducted funds on the Ethereum blockchain by a staggering factor of 16.”
Check out especially point 5a (slide 4): "One way in which victims..."
That's the reason why shitcoin casinos like Coinbase, Binance, and Bitvavo exist. That's why new services like Finst (here in the Netherlands) exist. And it's disgusting that so-called fin influencers promoting these types of platforms.
Since its inception, Ethereum was designed for fraud.
Waste of energy, centralization, rug pulls / scams, and more exit liquidity! Basically: Proof of Stake
I quote Saifedean:
'Ethereum is the mother asshole from which shitcoins spring.'
Ask yourself, what is the uniqueness of a digital asset controlled by large stakeholders?
Now by no means, I am giving financial advice, but you know I am Bitcoin only.
#Bitcoin is going to stay forever. Cryptos like Ethereum will not. Period!
Bitcoin is the only thing really decentralized. Anything else apart from Bitcoin, including basically all other cryptocurrencies, is not really decentralized.
Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4527415
#plebchain #grownostr #zapaton #nostrplebs #nostr #zaps