> Irreversible transactions are kind of the whole point of it Just as a sidenote, the problem isn't that the transactions are irreversible, they're also irreve

> Irreversible transactions are kind of the whole point of it Just as a sidenote, the problem isn't that the transactions are irreversible, they're also irreversible for banks. You never reverse the actual transaction, you just create another transaction in the opposite direction. Sometimes banks accidentally sent money to the wrong (foreign) bank and kissed them goodbye. The other bank had no obligation to send it back and if the 2 don't have a relationship and don't plan on having one it's free money for the recipient. The difference with crypto is that you're basically dealing with "untrustworthy" parties since there's no central trustworthy authority over the whole network. The advantage is that nobody can control the network. The disadvantage is that you have no leverage over the receiving party. It's like a private individual ad-hoc lending money to a friend vs. lending money to a total stranger. There's probably no legal obligation to return it but friends most likely will.