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Replying to Avatar Quotable Satoshi

Completely non-reversible transactions are not really possible, since financial institutions cannot avoid mediating disputes. The cost of mediation increases transaction costs, limiting the minimum practical transaction size and cutting off the possibility for small casual transactions, and there is a broader cost in the loss of ability to make non-reversible payments for non-reversible services. With the possibility of reversal, the need for trust spreads.

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Gigi 2y ago

I love reading through old Satoshi quotes. Lots of deep insight, wisdom, and humility.

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James 2y ago

These are bitcoin. Thank you for sharing.

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BitcoinEkasi 2y ago

Yeah, love it!!

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