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Joined 2 years ago
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Cake day: November 14th, 2023

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  • yes it’s actually important to understand how money moves

    I claimed credit cards protect consumers. You countered with "For example we know things like card skimmers " Once I explained that consumers are still protected you tried to make it about the process of a credit card company recovering their money which has fuck all to do with consumer protection. You invented a personal definition for fraud not because you don’t speak English but because your claim that crypto protects against fraud was bad.

    You are not arguing in good faith.



  • I’m not questioning the end user impact lmao

    Their internal mechanisms and work with police work is irrelevant to me as a consumer. It is therefore irrelevant for you to bring it up.

    You are arguing that a new car warranty doesn’t exist because a dealership has to pay a mechanic to fix the defective car they sold. You are ridiculous.

    I’m from Texas, I am a licensed financial professional

    Then you god damn know the actual definition of fraud not your silly redefinition.

    Gtfo.


  • You must know that’s not actually how it works,

    That is exactly how it works. A credit card isn’t a debit card. I have had my card number stolen. I saw weird charges on my card, called my credit card company and they reversed those charges immediately. No arguing was necessary because credit card companies work for you. Again this is a credit card, not a bank debit card.

    That is something that could be done with crypto as well.

    It can’t be done with crypto because you are transferring direct. You would need someone in between in which case you have reinvented banking.

    Your edit isn’t fraud, it’s scamming lol

    I’m getting the impression you aren’t in the US or British and don’t speak English natively. This could be why we are having problems communicating.

    https://www.merriam-webster.com/dictionary/fraud




  • . For example we know things like card skimmers exist and you have to take actions to prevent those things from impacting you as well.

    If your card is stolen, you are still safe. The credit card company reverses the charges.

    US banking system where things like bank runs can and do happen

    That’s a horrible example because that’s exactly the same as what happens with crypto on a daily basis. When a crypto is dumped, it’s value plummets leaving bag holders.

    With banks your money is insured up to $250,000.

    Global monetary supply isn’t fraud.

    your life savings because you kept all your cash on you

    Which is why I didn’t say cash. I said credit card. If you are mugged and your credit card is stolen, you call the credit card company, report the theft, and you lose nothing. They don’t hold you responsible for the list money.

    Your dad’s bank account was hacked and his money was returned by the bank TWICE. That’s the opposite of fraud.

    Crypto cannot do that.

    Edit: this is fraud:

    https://futurism.com/future-society/trump-meme-coin-disaster


  • Cities have a medallion system to prevent congestion of taxis on the roads. If there was a problem, increasing the number of medallions and scheduling surge pricing (like NYC has done with all cars now) would have improved service.

    Alternately, simply declaring Uber a taxi service and subject to employment laws would have fixed most everything.

    I guess since flying is a hassle, I should buy a jet and land it in parking lots to make it convenient for consumers. So what if a few hundred die a year if tens of thousands have easier air travel.


  • I literally said it doesn’t prevent scamming just like cash.

    You claimed crypto is immune to fraud.

    I then showed how old fashion credit card is better. I didn’t say cash.

    My father had his bank account drained twice

    My nephew lost all his crypto to malware.

    Your father’s bank “nearly” didn’t refund but actually did. So you proved that banks provide safety. Credit cards provide even stronger safety between you and businesses. My nephew’s crypto was gone with absolutely no recourse.

    The overall supply of most crypto is known

    That has absolutely nothing to do with fraud or losing your crypto to malware.