Re:Bitcoin is no long the only game in crypto-currency town
by prepend on Friday January 12, 2018 @10:25AM
(#16133547)
All payment systems have some system of loss. Visa/MC have fraud and error that eats away small percentages and relies largely on trusting people not to defraud you.
If you run Starbucks and serve 1000 transactions per day, you’ll have some fraud. If 0.1% are fraud, that’s not too bad.
Re:Bitcoin is no long the only game in crypto-currency town
by grey-area on Sunday January 14, 2018 @09:37AM
(#16144401)
This isn't a system of loss (systemic loss?), it's an abdication of responsibility - it's giving up on the payment system having any sort of fraud protection.
If you run Starbucks and serve 1000 transactions per day, you’ll have some fraud. If 0.1% are fraud, that’s not too bad.