Quote from: bitgeek on February 28, 2015, 08:04:33 PM

Quote from: Timo Y on February 27, 2015, 08:20:07 PM

Quote from: Sindelar1938 on February 27, 2015, 05:43:57 AM

Agreed, notary is the ultimate scam. Folks who collect $$ for putting their seals on documents in a profession where supply is artificially constrained to be like a monopoly

It's not a scam, it's just inefficient. The reason a notary is so expensive is not because their work is difficult, but because they are liable for the validity of documents they stamp. It's kind of an insurance for the customer. Which won't be needed anymore for algorithm-based notaries, of course.

If only they were actually liable. I don't know if you ever started a case against a notary, but I have and can tell you 90% of these cases get dropped (at least in the EU). This happens because judges and prosecutors are their university friends and they are all covering for each other. They even make sure it stays this way by limiting the availability of training, that you have to finish to be able to start your own firm, so the lucky ones that get accepted have a favour to return.

what is crazy is that it goes against market efficiencies... they are just a cartel toll tax. we know it. and that's it. Cry