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By government's hands being out of Bitcoin, I was mostly referring to its fixed money supply and the fact that its "permissionless", like cash. > Things like b
by olalonde 4y ago
By government's hands being out of Bitcoin, I was mostly referring to its fixed money supply and the fact that its "permissionless", like cash.
> Things like being able to stop or reverse mistaken or fraudulent transfers, protections from fraud, protections from whoever is handling your money for you (with crypto, someone is still handling your money for you) going out of business, etc.
That's only true when you do on-chain transactions, or in the case of fiat, when you pay with cash. If you worry about dispute arbitration, you could use the same dispute arbitration services that exist for fiat. For example, I don't see a reason why payment networks like Visa or Mastercard couldn't add support for Bitcoin eventually. You'd still get a currency that can't be arbitrarily debased and that you can easily transfer on and off the payment network.
As a side note, a lot of Bitcoiners would hate me for saying the above. A large chunk of the community believes that everything needs to be decentralized and it has probably hindered adoption.