[Cryptography] Keeping Malware from Using Security Hardware

[Chris Frey]

On Wed, Mar 19, 2025 at 05:27:59AM +0000, iang via cryptography wrote:
> That is cash, which works well in the context of a *local* store.
> 
> Now try your trade on the Internet, which is global, and you're dealing 
> with counterparties in other countries, so their rep is 'remote' and 
> their accountability is nil.
> 
> The point is, business is structured to assume the same environment as 
> 'local'. The Internet ain't quite that, and blockchain really isn't 
> that. It's ok for grown adults to play in the casino, but not for business.

Lots of interesting points, but what I see is a conflating of escrow-type
services with payment services.  Just because credit cards mix payment
and dispute resolution doesn't mean it always must be that way.

And your (plural) objections about internet commerce are somewhat true,
but it is not inclusive of all business.

A vendor like IBM can ship a million dollars worth of equipment to
a customer on the trust of an invoice that doesn't need to be paid for
30 days or more.  Do you think that kind of relationship and trust
cannot absorb a few technicalities like bitcoin?  I'm sure it can.

So we have local vendors (cash and bitcoin work, cash is currently more
convenient), we have large business (cash doesn't work so well, bitcoin
could), and we have e-commerce (credit cards currently win over everything
because dispute resolution is baked in).   Mixing all these together
and declaring bitcoin a loser is not true, in my estimation.

- Chris