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Bitcoin is like cash. If someone steals a bunch of cash from you, you're likely to be out of luck. You could build a complicated banking system on top Bitcoin
by jeffasinger 13y ago
Bitcoin is like cash. If someone steals a bunch of cash from you, you're likely to be out of luck.
You could build a complicated banking system on top Bitcoin too, that could do things like reverse unauthorized transactions, but that would get rid of the reason some people are really interested in Bitcoin.
- krupan 13y agoSomeone could build the banking system for those who would like the warm fuzzies it gives them, and others could still choose not to use it, keeping their bitcoins in their own wallet in their own house. Again, just like cash. The cool thing is that, unlike cash, you can send and receive bitcoin to and from anywhere in the world electronically without that big banking system's help!
- Cushman 13y ago> Bitcoin is like cash. Right, which is the point. No one same would argue that cash is a secure form of money storage. It's got some selling points, but security is not one of them.