The actual problem is that chargebacks are possible when using credit cards, and chargebacks are possible because of the legal concept of card fraud (i.e. the person holding the credentials could actually not be legally "authorized" to realize the transaction), and the legal concept of card fraud exists mainly for two reasons:
1. Banks are bad at security.
2. People are bad at security.
3. The responsibility in the case of fraudulent transactions is not clear. Who is to blame? The bank or the user?
Cryptocurrencies either solve these problems or neutralize the negative consequences of these problems:
- There is no bank to impose dumb security rules
- When credentials are "stolen", the user has no one else to blame than themselves.
- There's no concept of fraud. Whoever holds the credentials (private key or nmemonic seed) is authorized to realize transactions using the credentials.
- There are no chargebacks. Once a transaction is confirmed, the receiver can be certain that their money is not going to get pulled back.
> What nastiness are we subjecting ourselves to today?
We should be ashamed at the number of people that die everyday in car "accidents". Specially pedestrians and cyclists.
If you looked at our reaction to Covid, you'd think we value human life very much, but when you look at how our streets works, you realize we actually don't.
Just note that a Wayland compositor must implement some core Wayland protocols and it can also implement its own protocol extensions (for example, it can implement a screen-sharing extension, and efforts are being made to 'standardize' these extensions).
X11 (X version 11) is the protocol that controls most the graphics stuff in traditional Linux systems. It employs a client-server architecture.
The windows (clients) send their local framebuffers to the X server, X sends them to a compositor, the compositor joins them together into a big framebuffer that has the different windows in their respective positions and sends them to the X server. The X server then displays them on your screen.
There's a relatively new (~10 years old) protocol, called Wayland, which will replace X. The architecture is better and it has some other constraints (vsync is always on, so there's no screen tearing). Some distributions are using it by default (Fedora), but most are still sticking to X, since Wayland is not completely ready yet (in practice) and other projects are still transitioning into Wayland.
Maybe I got some technical details wrong, but that's the basic idea.
1. Banks are bad at security.
2. People are bad at security.
3. The responsibility in the case of fraudulent transactions is not clear. Who is to blame? The bank or the user?
Cryptocurrencies either solve these problems or neutralize the negative consequences of these problems:
- There is no bank to impose dumb security rules
- When credentials are "stolen", the user has no one else to blame than themselves.
- There's no concept of fraud. Whoever holds the credentials (private key or nmemonic seed) is authorized to realize transactions using the credentials.
- There are no chargebacks. Once a transaction is confirmed, the receiver can be certain that their money is not going to get pulled back.