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Even if the bank is not offering recourse, there is at least a mechanism for recourse. Decentralized banking just has no recourse at all, so it really just seem
by vore 4y ago
Even if the bank is not offering recourse, there is at least a mechanism for recourse. Decentralized banking just has no recourse at all, so it really just seems strictly worse here.
- datadata 4y agoI would argue that a system claiming to have recourse that doesn't actually work (taking this article for its word), is slightly worse than a system without recourse that explicitly states there is not recourse. People will be much more reckless and thus likely to be victims of fraud if they are told fraud is reversible.
- notch656a 4y agoHaving crypto w/ absolutely no recourse has allowed me to save money on buying silver vs say a credit card and faster clearing than wire or ACH. Recourse means the seller has to bear a risk you may find a way to yank the money back, and at least with precious metals "yuh pay extra for dat." As a seller, or a buyer dealing with someone I trust, recourse is a serious hazard I want to avoid. For this reason I demand cash or crypto when selling items.