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RE: I got $5,000 Scammed Last Night - Problems with the Modern Banking System by Charlie Shrem

in #steem7 years ago

I know it can't help with a Bitcoin-linked card, but this is a big advantage of credit cards over debit or prepaid cards. With a credit card you can dispute and refuse to pay, meaning you still have your money. With a debit or prepaid type card you don't have "your" money until the bank feels like giving it back to you.

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True story. A cool idea is a secured credit card, secured by Bitcoin or a credit card that its bills can be paid in Bitcoin.

The problem is this requires a bank to exercise credit powers. But it would be handy.

It would be cool if there was some way to invalidate crypto transactions using a premade revocation that generates after each transaction, that cancels the transaction and specifies a backup address.

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