Should blockchain makes transactions reversible?

[joy101]

That is true because a lot of people has lost big money in cryptocurrency transaction because them don't verify the address before sending money.

 

[mcjerry]

It will be good if crypto currency transactions can be reversible. Because there are sometimes that we will make wrong transfer to a wrong address or we want to increase the gas for speedy transfer

 

[GIFTMICHAEL]

If such will happen then we'll be thrilled for it dear. We hope to see cryptocurrency transactions being reversible to recover lost funds due to error.

 

[tyrim88]

While I like dispute feature (payment reverse) on paypal, I don't think blockchain should also opt for this feature even though a lot of websites are using crypto payment tom receive payment just because the transaction cannot be reversed.

I think making cryptocurency transaction to be reverse will not be actually to some extent a god idea,even though i have at my early stage of crpto payment lost my coin due to wrong input of address.Some persons might use this features to start doing funny transfer.

 

[Blessingedidiong]

I don't support the idea of block chain making transactions reversible. It will only increase the rate if crypto fraud and scam. One just have to be very careful before initiating any transaction to avoid losing funds.

 

[Dagm1]

That will certainly certainly not be actually feasible since some people will certainly utilize that opportunity to fraud some people. Picture you purchasing cryptocurrency as well as after whatever it will certainly obtain turned around without your understanding.

 

[Kaffyfolla]

The blockchain is irreversible, once you make the payment to the wrong address, the coin has lost and never recorved it back

 

[Nomad]

I think making cryptocurency transaction to be reverse will not be actually to some extent a god idea,even though i have at my early stage of crpto payment lost my coin due to wrong input of address.Some persons might use this features to start doing funny transfer.

Cryptocurrencies are not designed to reverse the transactions. You can reverse paypal and credit card transaction because they have central authority but crypto currencies are decentralized.

 

[tyrim88]

Cryptocurrencies are not designed to reverse the transactions. You can reverse paypal and credit card transaction because they have central authority but crypto currencies are decentralized.

It is better for it to be kept that way,since it is decentralise,because some persons might use the excuse of transaction failure to carry out some funny transaction while informing the other party that the payment did not go through.

 

[Kunkun]

Well about this I think its 50 50 for me because if they are indeed introduced then good because it's true there have been mistakes in the past and also it could be used for other not so good too

 

[Jhayms07]

Well I think the reversal thing might not be so cool because of the rate of scammers. So probably there's another upgrade that could be done rather than reversal

 

[Setho]

I believe that they should only make the transactions reversible if it was sent to another different wallet address but then if it was sent to a correct address then there is no need.

 

[Ub40]

I think it will be a welcome idea if there is a means of reversing coins sent to wrong addresses because as humans we are bound to make mistakes. But the issue is what becomes of the value of the coins after reversal since coins are volatile in nature? Maybe the technology that will be put in place will take care of that too. Only maybe. It is just my opinion.

 

[Kelly5]

This reversal of transactions isn't part of what the blockchain will encourage or inculcate in it's system. And I don't think It will end for everyone if this reversal were possible because it will open us up to a lot of fraud in the system

 

[Felixko]

No, knowing that transaction is not reversible is extremely important to make sure your transaction details are correct before sending your cryptocurrency (Bitcoin, Ethereum, Bitcoin Cash etc) to others. As unfortunate as it is, cryptocurrency transaction on Bitcoin networks are designed to be irreversible and we have no control over them.

 

[Senator]

I believe if this were possible, then the number of scam reports and stealings people would experience will increase and the system completely abused defeating the purpose of dicenralization

 

[Nomad]

It is better for it to be kept that way,since it is decentralise,because some persons might use the excuse of transaction failure to carry out some funny transaction while informing the other party that the payment did not go through.

The payment processors that reverse transaction do it manually, for example, of you have to reverse paypal transaction, you will have to file a dispute on your transaction and if paypal finds it legible, it will refund.

 

[ahmedo24]

It is good if the transaction can be reversed or people will not take advantage of the defrauding people so the best is if blockchain can reverse transaction that is not more than to confirmations.

 

[Elfinito]

It will be wise to make some transaction reverseable but the block chain has a lot of transaction in a single minute so it would really be difficult to make some reversals

 

[Setho]

I will be very happy with this if transactions that are sent to a wrong cryptocurrency wallet can be reversed and I think some exchange is already working on this.