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Yes and further I think every single bullet point can be said about regular money. Banks are not invulnerable to hacking. If you get hustled for your pocket m
by INTPenis 13y ago
Yes and further I think every single bullet point can be said about regular money.
Banks are not invulnerable to hacking.
If you get hustled for your pocket money in the street then the police will have to find the perpetrator with any means at hand. Just because it's an electronic currency does not mean anything is different here.
Are they trying to say that every single Indian citizen could withdraw their money as gold or some equally valuable substance that they can equate to cash money in society?
Wealth truly knows no god and no master, nor any border.
Beware of the propaganda, fear what you don't understand.
- techtivist 13y agoThis! Exactly the point I made above! Same issues plague "traditional" banks and RBI has imposed very limited liabilities on Bank or even safeguards like this one https://www.pcisecuritystandards.org/security_standards/ https://www.pcisecuritystandards.org/security_standards/. So if the Target fiasco had happened in India, Target would have minimum if any liabilities. Why do you think "cash on Delivery" is such a big thing in India. Consumers are paranoid, not just because it's their habit, they just feel vulnerable with no recourse even with traditional banking.