Looks like you need to do more research concerning Bitcoin and decentralization.
Having an authority that can change/revert mistaken transactions can be abused for unethical/immoral purposes. Imagine you selling me a nice DSLR camera, then I go to these so called "blockchain agents", with me claiming that my BTC transaction was a mistake, hence I got my money back, ending you up with nothing. And that's just one of the potential drawbacks.
Topic: Blockchain agents (Read 203 times)
Unfortunately once you send Bitcoin to address you do not control, it cannot be reversed.
Perhaps, reversible transaction can be made possible on Bitcoin Network by building unique applications to support that. For example, you can build application with address system that is designed to be partly controlled by a Bitcoin Company. When such mistake occurs, you can initiate a dispute and the company/arbiters will need to involve the address owner before they can have full power to reverse the transaction once they are convinced it's a mistake.
So, I think the Main Network should remain irreversible otherwise there will be lots of abuses. Businesses can decide to create application on Bitcoin that have both customer care services and reversible transactions like you want.
Perhaps, reversible transaction can be made possible on Bitcoin Network by building unique applications to support that. For example, you can build application with address system that is designed to be partly controlled by a Bitcoin Company. When such mistake occurs, you can initiate a dispute and the company/arbiters will need to involve the address owner before they can have full power to reverse the transaction once they are convinced it's a mistake.
So, I think the Main Network should remain irreversible otherwise there will be lots of abuses. Businesses can decide to create application on Bitcoin that have both customer care services and reversible transactions like you want.
If the transaction have 0 confirmation and have RBF flag, you could use RBF to "cancel" the transaction by sending the Bitcoin to your own address. Take note you lost small amount of Bitcoin for transaction fee.
Definitely correct.But what keeps me wondering is that many bitcoin users are using substandard wallets, I mean substandard in this regard because the wallets do not have the feature like replace-by-fee not to talk of it having 'Cancel transaction' in which the sender of the unconfirmed transaction can replace the fee with higher fee resulting to the wallet replacing the transaction with a transaction containing the address owned by the sender. While also some people that do not have the full control over their coins that are making use of centralized wallets and exchanges will not also be able to make use of replace-by-fee or cancel transaction.
Just saying these because people also need to be careful of the wallet they are using. Although, some people could be lucky to import their seed phrase into wallet like Electrum that have replace-by-fee and cancel transaction feature which can be of help during the time if provided the transaction has not be confirmed.
If blockchain is charging for every transaction there should also be a unit where someone can make complaints about an error transaction.
The "blockchain" is not charging you anything.
You pay for a transaction to be confirmed any amount you want if you want to do so. Nobody cares how much you send, to whom you send when you send, you're just wanting to bring a false sentiment of security when actually it will make everything worse.
What is the next plan, white-labeling addresses and blacklisting others?
Stopping poeple who have addresses labeled as being one from one country to send coins to another?
Put limitations on how many coins and how many transactions you can do a day or a month?
Once you bring somebody with enough power in the system to reverse transactions is the moment every single one of the above will slowly start to be implemented. You want to be able to reverse transactions, us a credit card, that's what I'm doing when I am forced to buy something from a website I don't trust completely.
Second.
You mentioned twice this "blockchain" as being either a company or an entity or a group or something.
No, the blockchain is a database, nothing more, it has no face, it has no soul, it has no office and for sure it will never offer customer service.
Blockchain.com is a company, a blockchain is something different.
~ If blockchain is charging for every transaction there should also be a unit where someone can make complaints about an error transaction.
Such things happen only with credit cards and other transactions involving centralized payment system. Not on a decentralized blockchain.~ What happens if I mistakenly make transfer to a wrong bitcoin address? So I believe if blockchain have customers agent such mistake can be rectify immediately the complain is made known to them.
You are thinking blockchain like a company that will have customers and third party agents. It's not.Even a bank who offers crypto custodial services will probably not be responsible for any refund when their customers sent to a different address. That's because they have no control over the Bitcoin blockchain.
Unfortunately mate the fact that no one can manage bitcoin and no one can really modify it, is the main reason why it becomes so risky and dangerous, and not recommend for everyone and that's the reason as well why there are some mentors out there wherein just to educate other people that this kind of thing is very profitable but at he same time not safe especially when it comes making transactions because you cannot really recover it forever in just one mistake. If there's anyone can manage bitcoin probably it's not like this i mean its impossible to happen what its right now.. And for sure no scamming no frauds can used its name because we can easily identify which is legit or not.
I’m not ignorant that bitcoin is said to be anonymous
Bitcoin transaction is pseudonymous or semi anonymous. The blockchain is transparent and can be seen by all blockchain observers but the transactions may not be linked to the person that made it.There are some cases of bitcoin transaction that needs urgent attention of an agent.
No failed transaction while making use of bitcoin.What happens if I mistakenly make transfer to a wrong bitcoin address?
Always send to the right address, transactions are not reversible, especially if the transaction is not checked as replace-by-fee. Even if checked as replace-by-fee, any transaction that is confirmed (1 confirmation) can not be reversed.So I believe if blockchain have customers agent such mistake can be rectify immediately the complain is made known to them
No. Always send to the right address.Also bitcoin is completely decentralized do not expect such.
This can help reduce the amount of risk and provide more security for blockchain.
The blockchain is just an open ledge, but safe as a result of the mining hashrates that bitcoin miners are generating. Miners provide security for blockchain through the hashes they are generating.
I’m not ignorant that bitcoin is said to be anonymous in nature but There are some cases of bitcoin transaction that needs urgent attention of an agent. If blockchain is charging for every transaction there should also be a unit where someone can make complaints about an error transaction. In many cities now organizations are hosting bitcoin seminars just like FXT sponsors where large numbers of people come and get knowledge about bitcoin and cryptocurrency in general. So if professional crypto enthusiast can be hired to conduct seminars for people then there should be a unit where I can come get professional advice and help from Blockchain agents. What happens if I mistakenly make transfer to a wrong bitcoin address? So I believe if blockchain have customers agent such mistake can be rectify immediately the complain is made known to them. This can help reduce the amount of risk and provide more security for blockchain.
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