Re: CRYPTSY stopping withdraw locking accounts without notifying users! Class Action
Maybe it's crazy but this and other similar situations of coins being stolen demonstrates the benefit of having a way to reverse transactions.
Perhaps we should consider a mechanism to reverse a transaction through a vote or consensus. Haven't fully thought out how this could work but it is something to consider.
Something could be designed to allow miners to reverse a specific transaction (and all subequest tx's) through majority consensus in extreme situations such as this.
Mistakes and thefts happen. Fiat banks have the ability to correct mistakes and reverse transactions unless the funds are withdrawn for cash.
I dunno...just thinking out loud.
Perhaps we should consider a mechanism to reverse a transaction through a vote or consensus. Haven't fully thought out how this could work but it is something to consider.
Something could be designed to allow miners to reverse a specific transaction (and all subequest tx's) through majority consensus in extreme situations such as this.
Mistakes and thefts happen. Fiat banks have the ability to correct mistakes and reverse transactions unless the funds are withdrawn for cash.
I dunno...just thinking out loud.
The only issue with reverse transactions, bitcoin would turn into a world like PayPal where people buy items, then immediately try and reverse a transaction.
This can be abused to hell.
This is completely contrary to the whole point of crypto. Might as well also suggest a central authority to determine which transactions are legit and which ones need to be reversed.
Exactly charge back hell !
Are we having a game here of shouting bad ideas ?
Sorry if I missed any quotes.Are we having a game here of shouting bad ideas ?
Yes, but majority miner consensus is difficult to achieve...it would work using the same mechanism in place necessary for a fork of BTC itself and we can see how hard that has been with the recent BIP 101 failure. It would be useless on coins with little hashrate since it would be too easy to fork but those coins are worthless without a decent hashrate anyways.
...but this is conversion to be had in a different topic where cooler heads prevail. This proposed change (BIP) to do a consensus reversal may be exactly what's needed to improve acceptance and the security of BTC. IMHO
