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> To steal crypto, I need to know your passcode. I can steal it from any location in the world. Using the term 'passcode' for a 256 bit key generated from a go

> To steal crypto, I need to know your passcode. I can steal it from any location in the world. Using the term 'passcode' for a 256 bit key generated from a good source of entropy is incredibly misleading. But yes, if you can either break secp256k1 or manage to steal a key that is stored with the same care as physical cash that is a distinction. It also doesn't mean that crypto doesn't work; thousands of people have safely stored cryptocurrencies this way for 10+ years now. My point stands: one cannot conduct a chargeback in a transaction using cash where sales are final. The example of chargebacks is a poor reason for 'why cryptocurrency doesn't work'.

cogman10 5y ago
> one cannot conduct a chargeback in a transaction using cash where sales are final. You absolutely can, that's the entire point of receipts. If the seller refuses, that's where trade law comes into play and you can sue. This of course, isn't a great comparison because in the modern day cash is almost never used for anything other than small transactions (or by the uber paranoid). To even be close to the same you'd have to compare it to putting cash into an envelope and mailing it. Not exactly a common practice.
- ccamrobertson 5y ago
  > You absolutely can, that's the entire point of receipts. If the seller refuses, that's where trade law comes into play and you can sue. 'Sales are final' is a trade statement; in most U.S. states under most conditions you cannot return an item when this is stated (even if you have a receipt). > This of course, isn't a great comparison because in the modern day cash is almost never used for anything other than small transactions (or by the uber paranoid). To even be close to the same you'd have to compare it to putting cash into an envelope and mailing it. Not exactly a common practice. Many people around the world still use cash for most of their transactions. And, as couched, the economy still functioned perfectly fine 30+ years ago where most people in the developed world used cash for most of their transactions as well.
NicoJuicy 5y ago
The problem is not the passcode, which can also be keylogged. It's also the platforms. Just check rekt.news

cogman10 5y ago

> one cannot conduct a chargeback in a transaction using cash where sales are final. You absolutely can, that's the entire point of receipts. If the seller refuses, that's where trade law comes into play and you can sue. This of course, isn't a great comparison because in the modern day cash is almost never used for anything other than small transactions (or by the uber paranoid). To even be close to the same you'd have to compare it to putting cash into an envelope and mailing it. Not exactly a common practice.

ccamrobertson 5y ago
> You absolutely can, that's the entire point of receipts. If the seller refuses, that's where trade law comes into play and you can sue. 'Sales are final' is a trade statement; in most U.S. states under most conditions you cannot return an item when this is stated (even if you have a receipt). > This of course, isn't a great comparison because in the modern day cash is almost never used for anything other than small transactions (or by the uber paranoid). To even be close to the same you'd have to compare it to putting cash into an envelope and mailing it. Not exactly a common practice. Many people around the world still use cash for most of their transactions. And, as couched, the economy still functioned perfectly fine 30+ years ago where most people in the developed world used cash for most of their transactions as well.

NicoJuicy 5y ago

The problem is not the passcode, which can also be keylogged. It's also the platforms. Just check rekt.news