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The risk of the money being fraudulently taken back is close to zero. If you are worrying about that happening, then you are either a fraudster yourself, or ju
by zepto 5y ago
The risk of the money being fraudulently taken back is close to zero. If you are worrying about that happening, then you are either a fraudster yourself, or just being paranoid. There is no major benefit to not having this.
On the other hand, if a crypto transaction has any errors, the money is instantly lost forever, and nobody can help you.
There is no upside to that at all.
- diveanon 5y agoI have been the victim of chargeback fraud and major banking errors that resulted in major losses that took months to recover. Irreversibly transferring funds and having complete ownership of them once they are in your possession is a huge feature.
- zepto 5y agoI don’t know if you realize this but you proved my point perfectly. Someone defrauded you, and you were able to recover the money. With crypto, when you get defrauded, you will never see the money again. If you think there is no fraud in crypto, I have some things to sell you.
- diveanon 5y agoThey never would have been able to access my funds in the first place if this was on a blockchain. Your argument amounts to the same as relying on the police to return your car after it has been stolen and then declaring that as security.
- zepto 5y agoYes, my argument does amount to that. Your argument amounts to claiming you have a car that is impossible to steal, and yet becomes permanently inoperable if you press the wrong button on the dashboard. Being able to recover stolen property is a good thing, you know?