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Finality may exist in transactions, but I'd rather it didn't, or at least, that it was easier to opt out of. In fact, I wish banks had an option to require an
by eternityforest 5y ago
Finality may exist in transactions, but I'd rather it didn't, or at least, that it was easier to opt out of.
In fact, I wish banks had an option to require an extra authentication factor for any transactions that isn't easy to trace and reverse, like ATMs or crypto purchases.
- nradov 5y agoATMs already have two factor authentication (card plus PIN). What more do you want? Many banks will reimburse customers for losses if their ATM card is stolen, and modern ATMs even have surveillance cameras to assist with investigations. There's also a daily withdrawal limit (typically under $1000) which mitigates the damage.
- eternityforest 5y ago$1000 limits aren't much of a mitigation. That's a years savings that could be wiped out in minutes. The cameras help a lot, and ATMs are somewhat OK, but nothing stops a person from using crypto to launder a stolen card. If they bought gold, someone could track their address. If they bought it in person they'd be on camera. A way to restrict transactions that go outside of easy to track places would help a lot of people. Of course, using 2FA for your Google account also stops most of that...