Re:Bitcoin is a Ponzi
by sellyme on Thursday October 07, 2021 @01:25AM
(#28782398)
> How's it bad?
Because there's absolutely no protection against fraud. This is somewhat of a problem when there's such a gigantic amount of fraud going on.
> You have to accept responsibility when making transactions
Yes, and so does the other party.
What irreversible transactions do is give the receiving party the ability to shirk all responsibilities, because it's significantly more difficult (if not impossible) to hold them to account.
Because there's absolutely no protection against fraud. This is somewhat of a problem when there's such a gigantic amount of fraud going on.
> You have to accept responsibility when making transactions
Yes, and so does the other party.
What irreversible transactions do is give the receiving party the ability to shirk all responsibilities, because it's significantly more difficult (if not impossible) to hold them to account.