To clarify my stance: I am not pitching bitcoin to anyone on hackernews (this is not a Show HN). The ability to not claw back bitcoin is a reality, unless there are flaws in the technology behind bitcoin. I believe this is a feature and society could manage to change its ways regarding transacting as a result of that reality.
So … how does anti-fraud work? There's no third party to process charge backs and unlike physical currency a theft can cross international borders near-instantly.
This sounds like wire transfers but everyone is exposed by default and there's no third-party monitoring for fraud. How am I wrong for thinking that sounds like everyone having to pay for their own private security service?
