4 ms·

to be clear about the semantics here: cash doesn't count as a "financial system", right? Blockchain currencies are basically counterfeit-proof, digital cash wi

• alpaca128 4y ago
  With cash that limitation exists because there isn't really an alternative. That doesn't mean we should use it as example, being able to undo mistakes is a valuable feature. That's also one of the reasons most online accounts aren't E2E-encrypted, most people prefer having a way to reset their password/key over losing all access to data.
• isodev 4y ago
  Sorry if my comment wasn't clear - I wasn't trying to compare cash to credit cards, of course. Regulation around "cash" transactions are quite strict here (including the definition of a verbal contract etc.), so unless one is engaged in "under the counter" activities, you can benefit from similar protections. Of course, in contrast to credit cards and online transactions, recovery from cash fraud/mistakes is more complicated since you'd need to contact the authorities/the other party yourself and deal with the whole process "manually" (instead of just clicking a button in your bank's web portal and letting them take care of it)