What good is a transaction without guaranteed settlement?
Visa/Mastercard are not guaranteed settlements…
Visa/MC have phone numbers you can call for support and dispute resolution. What happens for BTC lightning?
You still call a number for support: 988.
988 is the suicide hotline..
Anyone who overcommits to crypto should have a crisis plan in place in the event of disaster.
So… you want guaranteed settlement but at the same time the ability to reverse a transaction? How do you propose that would work?
It might come as a surprise to some, but I had over the years many successful credit card transactions and I also had a few reversed when I called Visa/MC and told them something was not okay. So I have nothing new to propose here, just mentioning a system which already works fine for me.
I’m aware that you can do this with credit cards. I was replying to someone who wanted guaranteed settlement but at the same time the ability to reverse transactions (read: settled transactions). You can’t have both at the same time.
I mean, I'm no crypto-as-in-currency fan (but am an actual crypto fan), but Visa is maintaining an elaborate illusion. It breaks down any number of ways, which you find out the moment you try to spend 40% of your credit limit on one thing, and someone screws up the transaction so it has to go twice. Then you start getting declined at the grocery store for being over the limit when you are in fact at 61% of your limit, but the vendor has reserved 80% of your limit for that 40% transaction.