[fc417fc802]

A settlement period wouldn't even run against the ideology, only the convenience factor (and implementation complexity, and perhaps transaction fees). More generally, I think a number of the issues with crypto are rooted in things happening immediately.

[acdha]

The ideology I was referring to was more of the trust-less design and “be your own bank” philosophy: many of these problems become easier if you have a third party who can do things like reverse transactions, but then you’re not getting rid of banks and are acknowledging that governments have power over the system. They do anyway, but there’s been a lot of desire to say otherwise.

[fc417fc802]

An algorithmically enforced settlement period where the final result of the entire transaction is visible on the chain but reversible by either party doesn't seem like it would run against that ideology.

[acdha]

No, but it’s a lot more work and it undercuts the marketing claims about being faster. If the industry grows up, I’d expect to see things like that happen.

[fc417fc802]

Opt-in wouldn't affect speed. If mandatory, make it log10( thousands ) hours. I'm sure you can afford to wait 4 hours for a million dollar transfer to clear. Bybit would have had 7 hours to realize and revert the mistake in that case.