Social credit and trust isn't necessary when exchanging digital cash (or physical cash) like it is when exchanging credit.
And irreversible transactions sound good until it's your stolen bitcoin used to pay Hetzner...
Kind of like what's happened to some Chinese citizens who planned to protest a bank, and had their health codes go red so they could no longer travel. https://www.reuters.com/world/china/china-bank-protest-stopp...
I certainly don't expect credit cards, and the consumer protection they provide, to go away. But I do think it is good that there always be irrevocable foundation (cash and digital cash) that you can fall back on if the institutions in charge end up becoming abusive. That might not be something you and I have to worry about today, but there's no guarantee that the people with the power tomorrow will be as honorable as those today.
With reversible transactions, human judgement enters into it. Human judgement is imperfect and corruptible, but it's better than rigid rules that can't be changed even in emergencies or other unusual situations that their makers didn't foresee (or just didn't care about).
Humans can come to an agreement that a mistake was made, and the receiver of the transaction can voluntarily do a counter transaction. This is exactly what happens with physical cash. You can't reverse a cash transaction without the receiver's consent, or without violently coercing the receiver to return it.
What you're upset about is that we can't come to a human agreement to go back and change history to undo our mistakes. Systems like bitcoin require a roll forward to correct things, and never allow unilateral roll backs.
If you don’t live in CA you’re not a resident and thus not obligated to file, one would assume, and if they lifted the money out of a bank account in another state… what are you even supposed to do?
You'd think that if you move out of state or even the country... but apparently, as I've found out now, the FTB is pretty hardcore about these things. You have to file 0 on California tax returns even after you leave the state.
I had only kept the account open so that I could xfer money oversees more easily as there was a citibank branch in Vietnam (where I moved) that allowed for free ~24 hour xfers. I kept a minimal amount of funds in there to avoid fees. Luckily, I use another bank primarily and the FTB didn't go after that account, otherwise, I'd be broke and unable to pay my bills.
So yea, it definitely has me on edge now about banks in general. I was already pro-crypto and now I'm only more so. Too many people feel it isn't their problem... until it is.
BTC becomes a reliable store of value as you're no longer concerned with the daily price changes, only your collateralization ratio.