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You know what every other online money transfer mechanism has? An ability to reverse transactions in the case or error or fraud. Because those things happen all of the time.


Those mechanisms will abuse that power if pressured to do so. Which alternative is best depends on your threat model.


I heard that there some block chain rollback thing that may be possible. I'm with ya. I don't put my money into high risk digital collectibles.


That kind of reversible payment rail can be implemented on top of a base layer like Bitcoin. Like the current banking system, with it's underlying final clearance network between banks.

Worldwide final clearance is a feature not a bug.


> An ability to reverse transactions in the case or error or fraud

Yes and that bug is a risk I weigh when using those money transfer mechanisms

When it fits my risk profile I engage in that transaction

Not hard

Not a matter for an industry regulator or state

Just pure market choice


...in part because transactions can be reversed. The flip-side is that sellers get ripped off often by these reversals.


And also that it gets used as censorship. Paypal did it to Wikileaks.




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