Hacker News Reader

Comment by Cheezewheel | Hacker News Reader

>Bitcoin is the first (and most stable) theoretically unseizable currency

This is an absolute farce. Maybe talk to us when there are no longer reports of being able to easily scam someone out of all of their money with a non-reversable transaction just by sending them an image with a script in it.

View on HN

Name a currency that scammers don't get fools to part with.

At least with fiat currency you have a chance of getting the transaction reversed! Most people will not trust a currency where this is not possible, or at least they will hold it with a centralized trusted custodian who can offer transaction reversal—which defeats the purpose!

That isn't a property of fiat currency, that's a property of the bank/credit card you use.

Someone could make a service with delayed settlement that is denominated with Bitcoin, and it would work just the same.

If you pay someone with a $100 bill, your only recourse is to ask for them to return it: the same as Bitcoin.

Sure, but there’s no way for the delayed settlement mechanism to handle fuzzy real-world judgment calls (such as a dispute about whether a service was rendered or not) without resorting to a centralized oracle of some sort—and then you’ve broken trustlessness and may as well have avoided blockchain altogether and saved yourself the transaction fees.

Emphasis on the "theoretically", I think.

Reply on news.ycombinator.com