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What exactly does it mean "fraudulent transaction" in the context of bitcoin? It's not like you can use someone else's account number to purchase stuff.
i suspect that steam was using a payment processor which identified that the coins were on a blacklist of sorts, and was not legitimately acquired (e.g., either stolen, or purchased with stolen money etc).
Earlier quoted context omitted.
i suspect that steam was using a payment processor which identified that the coins were on a blacklist of sorts, and was not legitimately acquired (e.g., either stolen, or purchased with stolen money etc).
How does Walmart compare to that regarding purchases with ill-gotten cash?
Earlier quoted context omitted.
i suspect that steam was using a payment processor which identified that the coins were on a blacklist of sorts, and was not legitimately acquired (e.g., either stolen, or purchased with stolen money etc).
How does Walmart compare to that regarding purchases with ill-gotten cash?
Unfortunately no details were given about what makes 50% of all bitcoin transactions “fraudulent” ? What does that even mean? * did someone try to send something other then bitcoin to a ₿ address? * did a client claim he payed and did the payment seem to fail on his end? * did a client not realise that you as payee also pay for the network fee? Nowadays these kind of problems would be easily prevented by using bitcoi…
> * did someone try to send something other then bitcoin to a ₿ address? That would not even register right? Different coins are completely separate and it wouldn't even have registered anywhere and show up in the statistic. As far as I know the addresses are also distinct between coins (so it's not even physically possible) but there are so many now and I've been out of that world for a few years now so that might h…
It's probably illegitimate money.
Earlier quoted context omitted.
i suspect that steam was using a payment processor which identified that the coins were on a blacklist of sorts, and was not legitimately acquired (e.g., either stolen, or purchased with stolen money etc).
How does Walmart compare to that regarding purchases with ill-gotten cash?
Just like the electricity cost of bank transaction cannot be easily quantified, so the problem does not exist.
Those problems only exist in Bitcoin. /s
What exactly does it mean "fraudulent transaction" in the context of bitcoin? It's not like you can use someone else's account number to purchase stuff.
Here’s a blog post where they talk about this eco system.