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Make one mistake with that address and your crypto is gone!! at least with IBAN/SWIFT the funds can be returned to the original account.
by subsaharancoder 6y ago
Make one mistake with that address and your crypto is gone!! at least with IBAN/SWIFT the funds can be returned to the original account.
- pitaj 6y agoOne mistake like putting in the entirely incorrect address? It's impossible to initiate a transfer with an invalid address, as they have checksums.
- UShouldBWorking 6y agoThe fear and hate for Bitcoin is getting weird. So they are saying you might accedently paste in another address that belongs to someone else but you don't know who? I'm pretty sure the people worried about Bitcoin have never used Bitcoin
- viraptor 6y agoOne mistake may mean copy-pasting wrong address. Or putting an extra "0" at the end of amount. This happens. Both are (most of the time) reversible in standard banking.
- aynyc 6y agoHeh, unless you accidentally sent to hedge funds, /s.
- xur17 6y agoMy understanding was that wire transfers weren't very reversible.
- viraptor 6y agoThey often are and it depends how quickly you react. This is a good description https://laws101.com/can-you-reverse-a-wire-transfer/ https://laws101.com/can-you-reverse-a-wire-transfer/
- GoblinSlayer 6y agohttps://arstechnica.com/tech-policy/2021/02/citibank-just-got-a-500-million-lesson-in-the-importance-of-ui-design/ https://arstechnica.com/tech-policy/2021/02/citibank-just-go... - and that's not some poor Joe McConsumer, but financial sharks.
- lxgr 6y agoHow about copy/pasting the wrong address then (either somebody else‘s, or one the recipient no longer has key access for)?
- ClumsyPilot 6y agoCan it? When I sent money to the wrong account, my bank told me "what's gone is gone" Fortunately the sum was trivial, but nevertheless ...