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Bitcoin Does Not Protect Against Fraud

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There is a common misconception that the cryptocurrency Bitcoin is safe and secure and will protect those who trade in it from fraud. However, as white collar criminologist Bill Black explains, Bitcoin is just as susceptible to fraud as any other type of transaction and complacency makes the likelihood of fraud only greater

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6 Comments

  1. better stick to the news guys. just because we generally like bill black does not mean he is shooting us straight when given the opportunity to shill against bitcoin

  2. First thumbs down I ever made of a real news video. Very disappointing. Your guest obviously knows nothing about Bitcoin. He sounds more like a troll for the banks.

  3. Clueless baby boomer Marxist talking about a free market currency. Fortunately the brilliant, tech savvy millennials who would probably be otherwise unemployed don't have to ask his permission to change their lives working in the economy of the future.

  4. It makes TRN look so amateur when you allow guests to broadcast without the slightest control of their screen image. I cannot believe time was so short that this speaker could not be asked to adjust his camera before you record. You even allow the echo. TRN is surely one of the leading communicators online – why can't you bother A LITTLE about the images you impose on us viewers?

  5. You're describing a human problem, not a Bitcoin problem. Bitcoin doesn't stop crime or fraud. Correct. That's not a problem with BTC, it wasn't designed to. It was made for censorship-resistant value transfer. It was made to move value in a trustless way. Without BTC, WikiLeaks would not exist due to government censorship. Infact, I've donated to news organizations similar to RNN with BTC.

    And you must separate BTC from several other cryptos. Some are illegal fundraising securities under the control centralized corporations which the SEC should have regulated, some are Ponzi schemes, and some are copies of BTC.

    BTC is just a tool, much like the internet. It can be used for good or bad, but that's is in the hand if the user, just like any other tool. Don't let speculation or other human activities jade your vision of Bitcoin.

    Btw I believe Nevada allows for residents of the state to pay their taxes in BTC.

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