Re:Alleged Coinomi exploit shows how easy it is to have Bitc...
by justsayin_3000 on Wednesday February 27, 2019 @11:18AM
(#19264148)
>> Why would you say that there's no legal means of redress? If someone steals my cryptocurrency, then I can still have law enforcement track them down and attempt to recover the funds.
Then you are effectively trusting a third party to make it right when you have been wronged. Isn't this contradictory to the promise of blockchains: That trusting a third party is not required??
Taking this further, you are saying that the data on a blockchain cannot be trusted because the transactions might be reversed due to outside action. Honest question: How does this fit into the concept of a blockchain?
Then you are effectively trusting a third party to make it right when you have been wronged. Isn't this contradictory to the promise of blockchains: That trusting a third party is not required??
Taking this further, you are saying that the data on a blockchain cannot be trusted because the transactions might be reversed due to outside action. Honest question: How does this fit into the concept of a blockchain?