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If someone else uses my cc, I’m not paying it. If someone steals my bitcoins, they’re fucking GONE.
by QAPereo 9y ago
If someone else uses my cc, I’m not paying it. If someone steals my bitcoins, they’re fucking GONE.
- deleted 9y ago[deleted]
- mrb 9y agoWrong. In the US you may be liable for the full amount stolen if you fail to notice the theft in 30 days. Even if you report the theft promptly, the law allows your issuer to make you liable for the first $50. Also you completely ignored my point about hardware wallets making theft a non-problem.
- QAPereo 9y agoSure, so don’t ignore your finances for a month.
- mrb 9y agoYou will still be liable for $50. And you again ignored my point about hardware wallets making theft a non-problem.
- deleted 9y ago[deleted]
- QAPereo 9y agoActually it can still be stolen, but like an impenetrable safe full of money, of no use to the thief. You’d still be screwed though!
- mrb 9y agoNot screwed, because a hw wallet can easily be backed up by writing down the 12/24-word seed in a safe/hidden spot. Our discussion thread demonstrates that more education is needed around hardware wallets, as most people have no idea how they work or even that they exist.
- dungle6 9y agoI know how they work and that they exist. However, I use cash as little as possible, and really don't need a cash substitute. The few times I use cash it is for small consumable purchases and things paid with a few quarters. No need for the waiting for a bitcoin transaction to clear. There are people that prefer cash. Of those people, a large portion of them are old or luddites/anti-tech (I actually don't mean this pejoratively as I sympathize with this view), but these people probably won't be too keen on Bitcoin as a replacement. The other portion are those seemingly like yourself that are all embracing of alternative payment methods or basically e-gold. That's great, but you are a niche bunch and I assume a pretty self-selected group. The mainstream wants convenient credit with decent consumer protections for the many advantages it brings to their boring, mainstream life. This is not ignorance. My credit cards give me extended warranties, travel protection. I just got a courtesy credit for a purchase well outside the return window, and I just was reimbursed a few hundred bucks for a computer that failed out of warranty. Meanwhile, I have had to call the credit card company once in 5 years for an unauthorized $200 charge. And no, I was not liable for a penny of it. I don't know where you keep getting off on this $50 stuff, but it's complete nonsense. No one ever pays $50 in practice. And most cards the window is 90 days for a dispute.
- dungle6 9y agoThere is no major credit card company in the US that doesn't have a $0 liability policy.
- simlevesque 9y agoCan't you steal a hardware wallet ?
- mrb 9y agoThey are typically PIN-protected. And you can back them up by writing the 12/24-word seed in a safe/hidden spot.
- castis 9y ago> the law allows your issuer to make you liable for the first $50 This has never happened to me, and ive had a CC compromised a few times. If someone steals your hardware wallet, what do you consider that?
- mrb 9y agoPhysically stealing a hardware wallet is typically not usefull because they are PIN-protected. And you can back them up by writing the 12/24-word seed in a safe/hidden spot.
- dungle6 9y agoHardware wallets Do not prevent you from voluntarily giving up your money to thiefs. Social engineering doesn't go away. There are still plenty of ways to steal money from someone, whatever the form. I could always just rubberhose your wallet, is it immune to that? This is a problem with credit cards, but there is a great recourse for it. 2) No credit card I use today (and I use lots for rewards) has any term less than 90 days for dispute. Also all 3 major credit card companies offer $0 liability as part of their terms.
- craftyguy 9y agoPretty much this. Bitcoins are like carrying around cash. Most folks will not argue that you own it, since it's in your pocket, but if someone picks your pocket in a crown then there's no way you're getting it back.
- koiz 9y agoNo they aren't. When did cash get 2 factor auth?
- craftyguy 9y ago2FA is not inherently part of bitcoin's design. It's something that can be enabled, but not all implement it.
- koiz 9y agoSo I ask again... Where's Cash's 2 factor auth. All of the major wallets/traders use 2FA and all the hardware wallets have it too. It's like saying... Well there's safes and banks for cash but its something that not everyone "enables" but you and I both know they use it.
- losteric 9y agoWhen has 2fa stop a bullet or knife? Very little cash is stolen by pick-pockets or home burglars. People open their wallets because they fear pain, it doesn't matter how many locks are on the wallet. relevant xkcd: https://xkcd.com/538/ https://xkcd.com/538/
- koiz 9y agoIf someone steals my wallet with my cash, its GONE.
- deleted 9y ago[deleted]
- topleveldomain 9y agoBut if someone steals your credit card and buys $10,000 worth of stuff, you're probably getting that money back.
- TallGuyShort 9y agoSounds more like an argument against cash, than an argument for Bitcoin...
- koiz 9y agoCredit Cards can co-exist with bitcoin, while btc solves some CC issues its target replacement is still cash.