Lumifer comments on Open thread, Nov. 09 - Nov. 15, 2015 - Less Wrong

3 Post author: MrMind 09 November 2015 08:07AM

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Comment author: Lumifer 16 November 2015 02:12:18AM 1 point [-]

Bitcoin may provide fraud free transactions through the blockchain

Irreversible does not mean "fraud free". In fact, one the useful aspects of credit card transactions is that they can be reversed if need be.

international transfer of money

International transfer of money is basically about avoiding national capital controls. Bitcoin got quite a boost out of the Chinese trying to get their money out of the country.