3 ms·
Chargebacks? Reversing accidental payments? Theft? Fraud? These are all pretty important parts of the currency system, and people aren't going to give them up j
by hannasanarion 7y ago
Chargebacks? Reversing accidental payments? Theft? Fraud? These are all pretty important parts of the currency system, and people aren't going to give them up just for the sake of some nebulous idea of decentralization for decentralization's sake.
Do you always log into every machine as root? Do you want everyone to have admin powers on HN and every other social media/chat/forum you use? Authorities exist for a reason.
- mateuszf 7y ago> Chargebacks? Reversing accidental payments? Theft? Fraud? Cash wasn't solving this either, yet lot of people prefer it to digital money owned by banks. And bitcoin is sometimes called digital cash, because it behaves like cash in that way. One could argue that it makes people more cautious on what they spend money on.
- daniel_ameli 7y agoYou can build a reversible payment system on top of a irreversible one, but not the other way around. Bitcoin allows mathematical forms of escrow. Bitcoin also allows extremely secure ways to store your cryptocurrency. You don't always want to log into your computer as root. But would you want a third party to log into your computer as root so they can watch and control what you do?