I wonder if this is just a terminology thing. I’d say refunds are a thing in Bitcoin, because you can send money bidirectionally, but there are not reversals.
Reversals are more accurate, since if a company offers a refund policy that is a much different process from calling your bank and getting the transaction reversed.
Since bitcoin is programmable money, reversibility can be built in the future if needed (think a merchant advertising that payments to them are reversible through your bank (or more likely via some other trusted third party) if needed as a way to gain your confidence).
Honestly, what would this ever be needed? If we are talking about merchants and the way credit card processing works maybe this could be a lightning invoice feature but on chain... nah. Seems like a very bad idea.
Wage enslavement
Refunds. Once that transaction is sent and confirmed, it is final.
I wonder if this is just a terminology thing. I’d say refunds are a thing in Bitcoin, because you can send money bidirectionally, but there are not reversals.
Reversals are more accurate, since if a company offers a refund policy that is a much different process from calling your bank and getting the transaction reversed.
So you are correct.
Since bitcoin is programmable money, reversibility can be built in the future if needed (think a merchant advertising that payments to them are reversible through your bank (or more likely via some other trusted third party) if needed as a way to gain your confidence).
Honestly, what would this ever be needed? If we are talking about merchants and the way credit card processing works maybe this could be a lightning invoice feature but on chain... nah. Seems like a very bad idea.
I can't think of anything else that isn't covered by these 9 points. Would love to hear others I missed. Some of these may even be redundant.
Asset insurance.
Customer support.
Equality, bitcoin will exacerbate wealth inequalities.
History.
Ecosystem/infrastructure built around it all over the globe.
The state of perpertual war
I hope bitcoiners realize that "circuit breakers" are not a good thing. Most of these "investor protections" are not good in the long run.
Direct debit