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Exactly what I was thinking. If they had some sort of fraud-related authorized structure, which was able to "reverse" the result of an obvious software bug, I
by drinchev 10y ago
Exactly what I was thinking.
If they had some sort of fraud-related authorized structure, which was able to "reverse" the result of an obvious software bug, I would say that it should've been much more stable financial system.
- pjc50 10y agoExcept that would require human intervention. And the whole reason why people love cryptocurrencies is removing the "man in the loop", with administrative power to deny, reject, roll back, or deem illegal their transactions. It's like these people have never seen War Games. (It also attracts the kind of people who think that banks, financial institutions, VISA and Paypal are "very likely" to defraud them while something entirely new and unproven with no legal structure is somehow less likely to defraud them or lose their money. See also people who think that bitcoin might be more stable than the US dollar.)
- DennisP 10y agoThey sorta do have that. If most of the community agrees to run a software update that rolls back the theft, then it'll happen.