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10 sats \ 4 replies \ @Rock 30 Aug 2023 \ on: Does Bitcoin have any negative tradeoffs or is it just all positive? bitcoin
The most obvious tradeoff in my opinion is irreversibility of transactions. I think it's a good thing overall, but scams might be harder to deal with for average people.
That's a good one. Yeah but this is really solved by escrow services. In this situation you really need a third party "middle man". Reversible transactions have their own set of tradeoffs.
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So I have some experience with protocol level escrow stuff, like in lightning channels or even in Bisq, so I think there might be a way to do it without a 3rd party, but regardless adding that middle-man or escrow protocol adds additional complexity and time to complete a transaction. Just throwing out my thoughts.
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Interesting. I put "middle man" in quotes because I can see it wouldn't have to be a person or group of people. I can see imagine it being a protocol.
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I totally agree that reversible transactions have tradeoffs, I mean they cause all kinds of fraud, and costs the banking / financial system much more to deal with.
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