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> but things like this are actually trackable and reversible in that ecosystem I do not know about US, but in EU bank transfers are generally not reversible (e
by zajio1am 6y ago
> but things like this are actually trackable and reversible in that ecosystem
I do not know about US, but in EU bank transfers are generally not reversible (except forced by courts). If you send money to wrong bank number, you cannot cancel the transaction in bank, you need to ask the owner of that account to send them back.
Compared to BTC, there are two differences - it is possible to identify an account holder and justice system can effectively force bank transfers.
- knorker 6y agoIt's not THAT hard to reverse transactions between EU banks. E.g. when that pirate bay founder hacked a bank's mainframe and transferred money out internationally the banks sorted it out, sending it back, without a court. Maybe you're thinking something specific about "reversing a transaction", but the main point here is that yes if needed a court can just make that reversing happen. Not the case for cryptocurrency. And no matter what the coiners say, irreversibility is very much a bug that society doesn't want.