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The more important point is that VISA is broken by design. Every day hackers steal credit card info and leech millions from the system, which is included in the
by runeks 9y ago
The more important point is that VISA is broken by design. Every day hackers steal credit card info and leech millions from the system, which is included in the fee you pay. The only reason it keeps working is because hackers aren't sufficiently sophisticated yet.
The solution, of course, is to store a private key on a hardware device, not have the private key be 16+3 decimal digits and an expiration date.
- UncleMeat 9y agoThat is entirely unrelated to a decentralized or centralized design. One could build a centralized CC network where we don't need to transmit credentials to third parties in order to make purchases.
- bo1024 9y agoI agree with you, but this is in principle a separate issue. We would like to aim for a system that has both the security of Bitcoin AND the "efficiency" of, in this example, VISA.
- runeks 9y agoThat would be great, but what if such a system doesn't exist? Pointing out inefficiencies in Bitcoin isn't very useful when no alternative exists to reach the same level of decentralization.