hottakes

Writer. Building @pinatacloud. Tinkering with a Farcaster native alternative to GoodReads: https://readcast.xyz \ https://polluterofminds.com

I get *an* underlying point - service providers building on blockchain rails have a UX and customer service gap to close - but if you think handing random sites on the Internet the credentials of your cards and bank accounts is a less-trustful system - brother, let me regale you with tales of my disputes on my cards.

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But I think the point is you CAN dispute those things and since you can’t in crypto you actually need a higher degree of trust

Disputes are hard to do onchain, plus all onchain transactions are still embedded within a wider context (e.g. legal context).

That being said, the original motivation that launched the movement, stated irreversibility of transactions was the point. 

This is not to say that all transactions on the web need to be, or should be, irreversible, but many may benefit from it. 

I think this is literally how Satoshi's whitepaper stated out, digging it out right now:

"Commerce on the Internet has come to rely almost exclusively on financial institutions serving as trusted third parties to process electronic payments. While the system works well enough for most transactions..."