More security holes are appearing in cryptocurrency and smart contract platforms

Re:More security holes are appearing in cryptocurrency and s... by fraggle222 on Wednesday March 27, 2019 @08:33PM (#19507842)

>People / companies like to have the ability to dispute the outcome of a transaction

Crypto currency doesn't stop this. You can dispute cash transactions and you can dispute crypto transactions. If I pay for something in crypto and it is not delivered, I can sue, complain, etc just as I would with a credit card. What you can't do with crypto is run to visa and have them magically reverse the charge (possibly screwing over the merchant). But dispute away my friend.

[ Parent | on HN ]

Re:More security holes are appearing in cryptocurrency and s... by oarsinsync on Thursday March 28, 2019 @07:39AM (#19511163)

This is actually valid. You can absolutely dispute a crypto currency just like you can dispute a cash transaction.

Except that only holds true when you perform a crypto transaction in the same way as you do a cash transaction, for local services. The moment you do it for something remote, you will run into all sorts of issues.

If a merchant in my country fails to deliver on a cash/crypto transaction, the dispute process is easy.

If a merchant in another country fails to deliver on a crypto transaction (posting cash is a whole other topic that we'll avoid here), what dispute mechanism do I have? International law is a minefield.

[ Parent | on HN ]