I think 100% irreversible purely online/digital transactions are a bit of a new problem? If you wire transferred money to a scammer's bank account it won't be easy getting it back, but if you realize your mistake soon enough you at least have a chance. For example, it's possible to to get the receiving bank to hold the money pending an investigation. With a crypto transfer there's no higher authority to appeal to. (which has pros and cons)

It's pretty much just "mail fraud, but on a computer." Banking transactions are the exception, not the rule. Most ordinary transactions aren't reversible by a central authority. You traded your baseball cards for some magic beans, well, enjoy your magic beans.

People intuitively understand that they shouldn't put a stack of twenties and hundreds in an envelope and hand it to a stranger in a ski mask who promises to pay it back with interest overnight.

But people have been taught that electronic money transfers are risk-free with chargebacks and insurance, so they think that if this is a scam, it'll be the bank's problem.

You wanted to be your own bank, guess who's problem it is now.

The real problem is that people don't understand that, so they do with their Bitcoin what they would never do with their jewelry.

Ofc there are ! There are 3 know authorities that sometimes intervenes that we must regulate and centralise more:

- Tether, which is reasonable enough to block transaction of known stolen USDT

- Exchanges who can reverse transactions if they havent left the exchange and are very monitored these days

- Miners, who can fork or reject an address if needed, something they dont all do because they're themselves not exactly loved by the country they suck energy out of

We need to switch away from decentralized currencies and move to a model of monitored USDT: that would allow the public to access every transaction of every actor, with the ability to block publicly criminals.

Weirdly crypto opponent focus a lot on decentralization but I don't think it matters as much as they think, while crime prevention is clearly more needed if people fall for "double your bitcoin" scams.

My understanding is that it is effectively impossible to reverse a wire transfer (except when your bank screws up, such as sending the wrong amount, in which case they will reimburse you). You will be told to go to the police.

I'm also not aware of any bank that will allow some random person to call them up and freeze an account, even if they just wired money to that account.

I think you mean it has cons and cons. We are discussing cons, after all.

Sorry, it was a bad attempt at sarcasm.