This is also true for debit/cash, basically all payment methods throughout history except for credit cards.
This is also not entirely true, to a minor extent law enforcement and the legal system can provide redress for scams. It helps to only do business with registered entities so you can at least take them to court/small claims.
> This is also true for debit/cash, basically all payment methods throughout history except for credit cards.
Of course it is, since credit cards are a recent innovation if you are analyzing across historical time frames.
And even so, do you see most people preferring to pay in cash nowadays? Or debit card even? I’m not sure on debit vs cc usage rates but I’d for sure be surprised if cash was in use at a higher rate than cc
credit cards make it relatively easy to get a chargeback, few questions asked. They will do the trouble of blacklisting the merchant instead of battling with the consumer. That's very much not the case with crypto.
This is also not entirely true, to a minor extent law enforcement and the legal system can provide redress for scams. It helps to only do business with registered entities so you can at least take them to court/small claims.