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Traditional banks and the financial industry are generally sub-optimal, but at least if you are scammed, they will do their best to either recover your money or
by rs999gti 2y ago
Traditional banks and the financial industry are generally sub-optimal, but at least if you are scammed, they will do their best to either recover your money or return you whole.
To have this safety, money and finances have to be centralized, regulated, and governed, all of which crypto doesn't have and doesn't want.
- deleted 2y ago[deleted]
- cesarb 2y ago> they will do their best to either recover your money or return you whole. And if they don't, the courts can force them to do it and give you some extra money for the trouble.
- foxglacier 2y agoNo they won't. If you bank transfer money to a scammer, the bank won't refund you, nor can they recover it. If you give a scammer your bank access credentials, they also won't refund you because you broke the TOS.
- Symbiote 2y agoThey may well block the transaction before it's made, for cases like this.
- frereubu 2y agoNot true in the UK: https://www.bbc.co.uk/news/articles/cy94vz4zd7zo https://www.bbc.co.uk/news/articles/cy94vz4zd7zo
- foxglacier 2y agoWow