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A comment on Do we need to pay billions in fees to Stripe, Block, PayPal and Visa/MC?. Parent comment

Re:Do we need to pay billions in fees to Stripe, Block, PayP... by RunSet on Sunday August 18, 2024 @09:08AM (#41282147)
> They allowed Bitcoin because Bitcoin is basically useless for payments, it's too slow and fees are way too expensive. Though Ethereum recently slipping through the cracks may disrupt the payments industry in a big way.

Or authorities "allowed" Bitcoin because, given its lack of head to cut off, they had no choice.

Contrast with Ethereum's demonstrable central authority over its blockchain: When the developers were robbed of their coin by a hacker, they "reorganized" the Ethereum blockchain to undo the transactions associated with the theft.[0]

I regard Ethereum less as "slipping through the cracks" and more as a poison suppository greased and inserted by the powers that be.

[0] https://en.wikipedia.org/wiki/Ethereum_Classic#The_DAO_bailo...

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Re:Do we need to pay billions in fees to Stripe, Block, PayP... by RamblingCTO on Monday August 19, 2024 @04:33AM (#41289065)
You give plenty of examples yourself as to why it might be considered something worth prohibiting? It enables fraud above all else and doesn't offer undoing of errors from a users perspective, and thus it will never replace any of the things OP mentioned.
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