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It's a bit early to tell but... do you lose access to FB, whatsapp or whatever when your computer/smartphone gets infected? Or are you talking about malware des
by Pamar 7y ago
It's a bit early to tell but... do you lose access to FB, whatsapp or whatever when your computer/smartphone gets infected? Or are you talking about malware designed to transfer money from your account to someone else's?
Is this a problem for Paypal?
- cschneid 7y agoPaypal can reverse transactions, can Libra? Or is it like bitcoin, where I must protect my private key by any and all means, and then if it's lost, sucks to be me? And yeah, I mean "lose all your money due to a 0 day in your browser".
- vocatus_gate 7y agoAt least in crypto, that's why things like the Ledger or Trezor are really important, at least if you're storing any non-de-minimus amount. Protects against things like 0-days, etc.
- cschneid 7y agoAnd my question was if Libra was any different. If it's like Bitcoin, there's zero chance this wont' be a hacker's paradise, and fail miserably as a way to immediately have your money stolen. How would Libra ever work if general population using it have the normal level of computer security? I foresee a headline like: "$20m worth of Libra stolen due to newly found security flaw. Facebook says 'sucks to be you, it's irreversible'". (or is the protocol different, and it is reversible? How? Who controls that?)
- pjc50 7y agoCentralised systems like paypal can just un-transfer the money; for the other examples, you can usually get the account back through some out-of-band account recovery process. For a decentralised system, you're on your own. It's not clear which one Libra really is.
- ilaksh 7y agoLibra is a centralized system, sponsored by payment processors, masquerading as a decentralized system.