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Before people suggest bitcoin--and I love bitcoin--it probably wouldn't solve this guy's fraud problem. Yes, it would stop the fraud, but there are simply too f

Before people suggest bitcoin--and I love bitcoin--it probably wouldn't solve this guy's fraud problem. Yes, it would stop the fraud, but there are simply too few people willing to pay in bitcoin.

kbenzle 11y ago
What about accept PayPal with a 10% discount for bitcoin?
Sir_Cmpwn 11y ago
For what it's worth, I'm a long time Candy Japan subscriber and I would be willing to pay in BTC. Hell, I'd pay more just to be supportive of businesses willing to accept BTC.
digikata 11y ago
Wouldn't bitcoin give rise to the opposite problem - consumers paying bitcoin now shoulder all the risk of buying from a bad vendor.
- Zikes 11y ago
  I think there are bitcoin escrow payment systems.
  - eloisius 11y ago
    The Bitcoin protocol supports multisig transactions. You can use it to implement escrow by including a third party public key and require 2 of 3 parties to sign the transaction.
    - digikata 11y ago
      So the mechanics are somewhat supported directly by bitcoin, but, how does the bitcoin customer get their money back even if the escrow company agrees that the terms of the sale weren't met? (added [1]) And then you still have a question of whether the parties agree to a mutually trusted escrow service to actually administer the signoff. I imagine that credit cards are somewhat partnered closer to the customer/card holder, but with bitcoin escrow it could be either the vendor or the customer? Not meaning to criticise here, just a walking through unfamiliar territory. Edit: Partially answered my own question (example 2 at link [1]) [1] https://en.bitcoin.it/wiki/Contract#Theory https://en.bitcoin.it/wiki/Contract#Theory
- placeybordeaux 11y ago
  Yes, there are some ways to prevent that, but that basic technology leans towards that.
frozenport 11y ago
Who the truck would suggest bitcoin? Most people would suggest the services he is already using like PayPal.
colinbartlett 11y ago
How is it even possible to have a subscription service with Bitcoin? I haven't seen such a thing.

Before people suggest bitcoin--and I love bitcoin--it probably wouldn't solve this guy's fraud problem. Yes, it would stop the fraud, but there are simply too few people willing to pay in bitcoin.

kbenzle 11y ago

What about accept PayPal with a 10% discount for bitcoin?

Sir_Cmpwn 11y ago

For what it's worth, I'm a long time Candy Japan subscriber and I would be willing to pay in BTC. Hell, I'd pay more just to be supportive of businesses willing to accept BTC.

digikata 11y ago

Wouldn't bitcoin give rise to the opposite problem - consumers paying bitcoin now shoulder all the risk of buying from a bad vendor.

Zikes 11y ago
I think there are bitcoin escrow payment systems.
- eloisius 11y ago
  The Bitcoin protocol supports multisig transactions. You can use it to implement escrow by including a third party public key and require 2 of 3 parties to sign the transaction.
  - digikata 11y ago
    So the mechanics are somewhat supported directly by bitcoin, but, how does the bitcoin customer get their money back even if the escrow company agrees that the terms of the sale weren't met? (added [1]) And then you still have a question of whether the parties agree to a mutually trusted escrow service to actually administer the signoff. I imagine that credit cards are somewhat partnered closer to the customer/card holder, but with bitcoin escrow it could be either the vendor or the customer? Not meaning to criticise here, just a walking through unfamiliar territory. Edit: Partially answered my own question (example 2 at link [1]) [1] https://en.bitcoin.it/wiki/Contract#Theory https://en.bitcoin.it/wiki/Contract#Theory
placeybordeaux 11y ago
Yes, there are some ways to prevent that, but that basic technology leans towards that.

frozenport 11y ago

Who the truck would suggest bitcoin? Most people would suggest the services he is already using like PayPal.

colinbartlett 11y ago

How is it even possible to have a subscription service with Bitcoin? I haven't seen such a thing.