coinqueror

9 năm trướcdiscuss

What recourse is there for bitcoin provider services that screw up?

Ie, if one day Coinbase says something like, "sorry, we lost the password to one of our internal coin wallets due to technical error, and your 5.1 bitcoins are lost."

I bet there's some clause in their terms that tries to shield them from this, but wonder how enforceable it would be.

Ie, a regular bank presumably couldn't just say, "sorry we lost your $50k deposit due to technical error". They'd be liable.

coinqueror

9 năm trướcdiscuss

One could argue that the universe of avail bitcoins (those with known passwords) will asymptotically approach zero.

Ie, there's a small chance of a user screwing up. And since there's no recourse, always a perpetual small chance of someone losing their bitcoins.

Maybe Poissonian?

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