[umanwizard]

> being able to undo transactions is a feature not a bug of the modern financial system.

Best takedown of cryptocurrencies that I've seen. Explains, as succinctly as possible, the fatal flaw in the idea. I'm gonna steal this line for the future.

[oculusthrift]

yeah that’s also why cash and gold are worthless XD. who in the world would take cold hard cash or gold bullion in exchange for goods??!! you can’t reverse it!! and guess what, someone can hold a gun to your head and take it.

[atomicUpdate]

> you can’t reverse it!!

> and guess what, someone can hold a gun to your head and take it.

Those are contradictory statements. The government can absolutely reverse a criminal taking your money by arresting them and returning the stolen cash.

[squaredpants]

Can't the government do the same with cryptocurrencies though? They can also "arrest the criminal and return the stolen cryptocurrencies". Not very practical 99% of the time though...

[oculusthrift]

yeah unless they spent it, or hid it, etc... just as easy to get that cash back as it would be to get the criminals private key.