101–110 of 305 posts
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> People who actually handle the chatting are kept in inhuman conditions and physically cannot leave. I think there might be a word for this.
But I was informed that ended in 1865.
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The difference is, crypto makes irreversibility a fundamental part of the system, making it impossible for any party to unilaterally reverse a payment without having to first take over the entire chain. With regular fiat money and banks, such reversals are perfectly possible on a technical level. The banks are usually unwilling to do them, and an individual may not be able to force them to in practice, but it's still…
> The banks are usually unwilling to do them, and an individual may not be able to force them to in practice, but it's still possible in a way it's not possible with crypto. Generally they're unwilling to do that because it involves losing money for them. Transfers work in a multi-step process to ensure money isn't created. You tell Bank A to transfer money to person X at Bank B. Bank A tells an intermediary bank C t…
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The banks here have said that if you get scammed and money has been transferred (no cryptocurrency involved), there's nothing they can do. It was a bit surprising to hear since you only hear cryptocurrency transactions being irreversible.
The difference is, crypto makes irreversibility a fundamental part of the system, making it impossible for any party to unilaterally reverse a payment without having to first take over the entire chain. With regular fiat money and banks, such reversals are perfectly possible on a technical level. The banks are usually unwilling to do them, and an individual may not be able to force them to in practice, but it's still…
Don't fall into the trap: Government penalizing private parties without due process can be appealing when it's a private party you don't like, but even those people deserve due process - that's the point, everyone does. Also it's arbitrary, unchecked power that is used for corrupt purposes, and by supporting it in a situation where you like to see it, you are legitimizing that power in every case. Edit: It's tough to…
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I experienced the same thing in my family. It sucks. I still haven't fully forgiven them (the supposed victim). As much as I agree it's partially mental decline, it's hard for me to imagine it's not at least also partially a character flaw that would get you into this situation
> character flaw It's usually greed. The aphorism isn't entirely true, but you can't cheat an honest man.
But it's not greed in the sense of Ebenezer Scrooge or finance bros. All it takes is some pie-in-the-sky naivete and trusting the wrong person.
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The banks here have said that if you get scammed and money has been transferred (no cryptocurrency involved), there's nothing they can do. It was a bit surprising to hear since you only hear cryptocurrency transactions being irreversible.
The difference is, crypto makes irreversibility a fundamental part of the system, making it impossible for any party to unilaterally reverse a payment without having to first take over the entire chain. With regular fiat money and banks, such reversals are perfectly possible on a technical level. The banks are usually unwilling to do them, and an individual may not be able to force them to in practice, but it's still…
IF reversibility is a desired feature of digital currencies, the market will bear that out. People can and will choose those currencies.
As with any "feature," there are tradeoffs, and it might well be that people en masse decide they would rather everyone control their own money than have central powers supervising, just as it might well be that people opt back into a system very much like the one that exists today, but with new efficiencies.
Adding programmability to money in the digital age was necessary. I don't know why anybody is surprised it hasn't reached some sort of final, settled state this early in the digital age. It basically only came into practical existence after the launch of smartphones and ubiquitous internet access. Give it a minute.
Related: Interpol urges to stop using "Pig Butchering": > INTERPOL argues that the term ‘pig butchering’ dehumanizes and shames victims of such frauds, deterring people from coming forward to seek help and provide information to the authorities. "Romance baiting" is proposed instead. https://www.interpol.int/News-and-Events/News/2024/INTERPOL-...
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Reason of most scams is the absurd level of trust existing in Western countries. When i first saw Upwork where hours were paid by the tracker in a guaranteed manner and people SIGNED for it, i knew West was doomed. I still find it hard to believe people can be that easy to dupe. Level of trust in the Western societies needs to be radically reduced through government propaganda, church and other channels. The world ha…
A high trust society is actually a good trait, not a bad one. It’s rather easy, lazy even, for a culture to devolve into a low trust minima. That’s basically the default state that people have endeavoured to evolve out of. I think it’s also the kind of thing that can easily overwhelm anxious minds. The kind where “what if it’s a scam?” leads them to never taking a risk, donating to a cause, doing someone a favour. No…
100% agree, and seeing it erode is painful (e.g., toothpaste now locked behind plexiglass).
But to steelman the parents point, while it is be good to be high trust society, that society may be poorly adapted when rapidly integrated into a low trust globalized world.
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The difference is, crypto makes irreversibility a fundamental part of the system, making it impossible for any party to unilaterally reverse a payment without having to first take over the entire chain. With regular fiat money and banks, such reversals are perfectly possible on a technical level. The banks are usually unwilling to do them, and an individual may not be able to force them to in practice, but it's still…
This seems like the correct way to go though.. if you want reversibility, then introduce escrow into the situation, the foundational building block should be irreversible.. as there's no way to make a means of transfer _more_ irreversible if you're inherently giving control to a 3rd party with no choice.
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I experienced the same thing in my family. It sucks. I still haven't fully forgiven them (the supposed victim). As much as I agree it's partially mental decline, it's hard for me to imagine it's not at least also partially a character flaw that would get you into this situation
I, tiptoeing here, kind of agree. Am I missing something or do these scams operate on a person's greed? To be sure, I invest in order to see a return. That's greed, I guess? Or maybe not? I think having (unrealistic) expectations of doubling your money in anything shorter than ... about a decade ... should be sending up red flags for anyone. "Make money fast" should fire the same neurons as "Put it all on zero and sp…
These scammers don't have code of ethics, they will push whatever emotional button they think will get the result they want. You're conditioned by society to respond to certain patterning, they take advantage of that in full.