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If you'd sent it to the wrong wallet, OTOH, you'd just be at the mercy of the wallet owner to return the BTC. These are real problems, and by the time bitcoin

If you'd sent it to the wrong wallet, OTOH, you'd just be at the mercy of the wallet owner to return the BTC. These are real problems, and by the time bitcoin proponents find adequate solutions for them, what they will have created is going to look an awful lot like the banking system.

wtbob 10y ago
> If you'd sent it to the wrong wallet, OTOH, you'd just be at the mercy of the wallet owner to return the BTC. IIRC, a wallet is just a public key, so nearly any incorrect account number will be a public key for which no-one has created the private key — thus there would be no-one to return the money. This really isn't a problem, I think, because I'd rather have to rely on me and my computing equipment not committing errors rather than have to rely on some random teller not making errors.
- threeseed 10y ago
  Your point makes no sense. If some random teller makes a mistake the bank can just organise for the transaction to be reversed.
  - aianus 10y ago
    > If some random teller makes a mistake the bank can just organise for the transaction to be reversed. It is not that easy to reverse an international wire transfer, especially if the funds have already been withdrawn.
    - karmajunkie 10y ago
      Not easy, but possible. With bitcoin, not so much.
    - deleted 10y ago
      [deleted]
- karmajunkie 10y ago
  You've seriously never copy-pasted one character short of the full line? You have a far greater estimation of your own infallibility than I have of my own. Or yours, for that matter. If you really believe that, I know some spear-phishers that would love to make your acquaintance.
Iv 10y ago
If I were to use BTC for core transactions, I would: 1. Make a system with far more checks than that, for instance force to provide a name and an account number and refuse the transaction if they do not match. 2. Have an insurance system for that kind of mistakes. And, obviously, this would mean added fees.

wtbob 10y ago

> If you'd sent it to the wrong wallet, OTOH, you'd just be at the mercy of the wallet owner to return the BTC. IIRC, a wallet is just a public key, so nearly any incorrect account number will be a public key for which no-one has created the private key — thus there would be no-one to return the money. This really isn't a problem, I think, because I'd rather have to rely on me and my computing equipment not committing errors rather than have to rely on some random teller not making errors.

threeseed 10y ago
Your point makes no sense. If some random teller makes a mistake the bank can just organise for the transaction to be reversed.
- aianus 10y ago
  > If some random teller makes a mistake the bank can just organise for the transaction to be reversed. It is not that easy to reverse an international wire transfer, especially if the funds have already been withdrawn.
  - karmajunkie 10y ago
    Not easy, but possible. With bitcoin, not so much.
  - deleted 10y ago
    [deleted]
karmajunkie 10y ago
You've seriously never copy-pasted one character short of the full line? You have a far greater estimation of your own infallibility than I have of my own. Or yours, for that matter. If you really believe that, I know some spear-phishers that would love to make your acquaintance.

Iv 10y ago

If I were to use BTC for core transactions, I would: 1. Make a system with far more checks than that, for instance force to provide a name and an account number and refuse the transaction if they do not match. 2. Have an insurance system for that kind of mistakes. And, obviously, this would mean added fees.