"crypto" "currency" 

every blockchain thing must have a technical document that immediately goes into lengthy detail about one small aspect, while neglecting to even include a broad discussion of the architecture, it's properties, and tradeoffs.

it's propaganda written for investors, of course

only effective against people who aren't expecting a real protocol RFC-style doc with structured explanations.

i can't decide whether it's just intentional chaff, or if it reflects the underlying process.

re: "crypto" "currency" 

@scanlime This tends to be common to pretty much all investment-type scams.

The scammer goes into detail about how one specific edge failure case or advantage is avoided / instantiated. But fails to paint the bigger picture.

I'm not sure this is entirely intentional. Often scammers may be deceiving themselves, and there's a Darwinian selection process by which effective scams fight it out amongst each other to survive.

The tendency is well-established. I'd run across mention of it in John Kenneth Galbraiths excellent, brief, highly-readable, and extremely informative The Crash: 1929, on the Wall Street crash leading to the Great Depression.

That's also where the concept of the #bezzle is introduced, a favourite concept of mine and apparently @pluralistic based on his numerous references to same.

re: "crypto" "currency" 

@dredmorbius @pluralistic Interesting! Thanks for giving me a few threads to pull on :)

re: "crypto" "currency" 

@scanlime My pleasure.

The relationship of complexity of investment schemes to fraud is especially prevelent. You'll see this again and again.

(I'm hunting for some good explorations of fraud and collections of scams. I think I've found a few though I'll have to dig through my library for them...)


re: "crypto" "currency" 

@scanlime OK, there's The Little Black Book of Scams, though it's a bit light:

There's Jeremy Campbell's The Liar's Tale, which I've been meaning to read for years, but goes into the whole psychology and philosophy of mistruths.

And of course, forensics accounting and auditing books, as well as crime and law enforcement, look at frauds. Numerous titles there.


re: "crypto" "currency" 

@dredmorbius @pluralistic much thanks!

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