3 ms·
Ok but why is it not reversible? Is there any good reason? Is it doing Proof of Work?
by jallen_dot_dev 4y ago
Ok but why is it not reversible? Is there any good reason? Is it doing Proof of Work?
- ROTMetro 4y agoIt is the digital equivalent of cash. That is the whole point. When you buy something with cash, can you just reverse the transaction later? The good reason is what use is a person to person payment system where the person receiving money has no guaranty that they get to keep the money received.
- jallen_dot_dev 4y agoHow is it person to person if there's a 3rd party facilitating the transaction? Why should someone be guaranteed to keep the money if they got it fraudulently, with the victim unable to dispute?
- pandaman 4y agoThis is not different from sending physical goods via mail: a 3d party is involved but you will be laughed out of the post office when you demand to return items you sent. And there is no guarantee too: authorities may retrieve your items, though chances are even lower when you send them overseas.
- titoCA321 4y agoEven when you pay by check or ACH, it's not always reversible. It depends on the bank and where it was sent and how long ago.