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Right, except it isn't a physical object like cash is, it can't be stolen from your person like cash can, and most people keep nearly all of their 'cash' in ele
by beedogs 13y ago
Right, except it isn't a physical object like cash is, it can't be stolen from your person like cash can, and most people keep nearly all of their 'cash' in electronic accounts anyway.
- LaGrange 13y agoThe snarky parent was probably trying to say that „theft protection” might be a better term.
- indrax 13y agoI agree with your interpretation, but bitcoin eliminates that kind of fraud, while requiring you to protect against theft.
- baddox 13y agoIt's not just theft protection though. Bitcoin provides protection from forms of fraud which specifically use mechanisms in a currency or transaction system, like chargebacks on PayPal (a ubiquitous form of fraud), or fake Western Union payments.
- dragonwriter 13y agoChargebacks may be a mechanism of fraud by purchasers against sellers, but they are also a tool for addressing fraud by sellers against purchasers.