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A comment on The largest unknown Bitcoin wallet moved nearly $1B for $0.48 in fees. Parent comment

Re:The largest unknown Bitcoin wallet moved nearly $1B for $... by gruez on Tuesday June 30, 2020 @10:45AM (#23690537)
>Nor can you reverse a transaction when someone steals your Bitcoins.

You're not always able to do that with the traditional banking system. Scammers were able to steal millions from corporations using wire transfers, and they weren't able to reverse them.

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Re:The largest unknown Bitcoin wallet moved nearly $1B for $... by parliament32 on Tuesday June 30, 2020 @12:20PM (#23691667)
Exactly, you can't officially reverse wires. You can ask your bank nicely, and they can ask the receiving bank nicely, and if the money's still there, it may or may not be transferred back. But there is no official mechanism for reversing wires, and if the other side withdraws/spends the money before you start the process you're SOL.
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Re:The largest unknown Bitcoin wallet moved nearly $1B for $... by cletus on Tuesday June 30, 2020 @10:52AM (#23690622)
Some is still better than none, no?
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Re:The largest unknown Bitcoin wallet moved nearly $1B for $... by gruez on Tuesday June 30, 2020 @10:57AM (#23690689)
But reversibility is provided by the intermediary, and isn't a property of the currency itself. For instance, if you're dealing in cash, there's zero reversibility. Likewise, I don't see the difference between a bank reversing a transaction for you, and the marketplace platform reversing the transaction for you.
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Re:The largest unknown Bitcoin wallet moved nearly $1B for $... by erfgh on Tuesday June 30, 2020 @10:56AM (#23690676)
But at least there is hope.
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