[mgraczyk]

It doesn't have to be that way though. There's nothing inherent about the timescale of 2-5 days that prevents the same level of security and reversibility with shorter transactions. The problem is the lack of coherence, lack of information, and lack of fast technology. It's easy to build a reversible version of BTC with programmable timeouts for reversal, and the timeouts can then be tuned based on transaction size, risk tolerance of the sender, and willingness of a third party to underwrite the transaction risk.

Credit cards basically do this. Part of the reason they are able to is because they gather more data and rely on more sophisticated technology than the banking system. With blockchains, you have another small tool to improve the situation.