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A payment system that ties up the funds for 30 days in escrow is even less useful and not competitive. Again, escrow is neither new nor unique to Bitcoin. It
by bduerst 11y ago
A payment system that ties up the funds for 30 days in escrow is even less useful and not competitive.
Again, escrow is neither new nor unique to Bitcoin. It doesn't solve the refund problems. Why do you think it's not used by modern payment systems?
- CyberDildonics 11y ago> A payment system that ties up the funds for 30 days in escrow is even less useful and not competitive. I agree but that's what credit cards are.
- bduerst 11y agoAbsolutely not. ACH delivers funds in 1-3 business days. Do you not know how credit cards work?
- CyberDildonics 11y agoFrom wikipedia: > Businesses increasingly use ACH online to have customers pay, rather than via credit or debit cards.[citation needed] > Rules and regulations that govern the ACH network are established by NACHA and the Federal Reserve. In 2013, this network processed nearly 22 billion ACH transactions with a total value of $38.7 trillion.[1] Credit card payments are handled by separate networks.