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Problems like this are a critical flaw in cryptocurrencies. When something goes horribly wrong, who do you go to for help? You don't have a right to recourse wi

Problems like this are a critical flaw in cryptocurrencies. When something goes horribly wrong, who do you go to for help? You don't have a right to recourse with cryptocurrencies. With real money, you have legal rights that can be exercised by simply filing a complaint with the bank. If that doesn't go well, you go to the regulatory agencies or the courts. Furthermore, if you do succeed in getting help from the community/central committee then you just defeated a goal of cryptocurrencies. Taken directly from the first paragraph of the homepage of the Ethereum website [0]: > Ethereum is a decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. [0]: https://www.ethereum.org/ https://www.ethereum.org/

davesque 9y ago
Remember, however, that's there's nothing about "real" money that intrinsically bestows upon its users some set of legal rights. Traditional currency users have legal rights because the legal system has had enough time to evolve to handle them properly. A lot of current crypto systems don't specifically include mechanisms for recovery of funds (and, as you point out, many of them claim this shouldn't happen) but that doesn't mean it's not technically possible somehow.
jiximus 9y ago
it would be possible with concealed and rsa signed meta data. so theoretically you would be able to request a transaction revesal submitted to the miners after you verify your identity on the blockchain.