[Cryptography] Bitcoin is a disaster.

[Deryk Makgill]

‐‐‐‐‐‐‐ Original Message ‐‐‐‐‐‐‐
On Tuesday, December 29, 2020 8:04 PM, John Levine <johnl at iecc.com> wrote:

Cardholders have a 60-120 day window to file chargeback
claims and there are billions of dollars in chargebacks
every year. Not to mention fraud and stolen cards.

There's plenty of information on how much money and time is lost
every year due to this. If you don't believe me, I don't have
time to explain. Run an online store and get back to me.

Bitcoin can fix that. Like I said, 10 minute non-reversibility
is better for merchants than the current chargeback window and
should result in less fraud.

Only that is muddled when blocks become full, notwistanding
the possibility that Lightning ever amounts to a real replacement for
on-chain transactions...