alt Hacker NewsZero fraud is non-optimal because the effort required to achieve it would make transacting impossible.
I suppose I should have spelled it out, given that so many people didn't get it.
It would be like declaring that the optimal number of vehicle deaths is zero, but then not realizing that the only way to achieve that is to make sure nobody can drive. When faced with the realities, everyone backs off and acknowledges that some risk is necessary
The optimal _target_ for fraud is not zero. That's the aphorism. The optimal _amount_ of fraud is indeed zero, for most value systems. You had to spell it out because you were imprecise.
You come across as one borrowing patio11’s coat. He's a great blogger. You aren't.