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Your argument makes no sense and provides no evidence. Chargebacks can be initiated at any time within the chargeback window, regardless of what is purchased.

Your argument makes no sense and provides no evidence. Chargebacks can be initiated at any time within the chargeback window, regardless of what is purchased. Further, chargebacks hurt the MERCHANT. MERCHANTS are the ones banned and blacklisted (there is a blacklist file shared among all VISA issuers) for bad behavior. IF merchants had high chargebacks, they would state that - there is no NDA preventing the card issuers from stating it. And even if there were, there are higher-risk tiers for such merchants (like merchants that sell online porn). How much experience do you have dealing with VISA etc. ...?

squeegee5 9y ago
Guy's got an ax to grind, and is happy to make up nonsense regarding systems he doesn't understand. See https://news.ycombinator.com/item?id=16262640 https://news.ycombinator.com/item?id=16262640
- root_axis 9y ago
  You're replying to someone else, with a passive-aggressive swipe at me, and justifying it by linking to a prior conversation between me and yourself. Take a step back and consider that you might perfectly fit the description of someone with an axe to grind.
root_axis 9y ago
> Chargebacks can be initiated at any time within the chargeback window, regardless of what is purchased. Yes, but as I already explained, the incentive to chargeback is NOT the same regardless of what is purchased. Chargebacks are relatively rare because most people only chargeback if there is a dispute with the merchant, but outside of fraudsters, its not that common for people to chargeback on a product months later. Even with high risk products like porn, there are predictable chargeback rates that can be factored into the overall profitability of the product category, but with blockchain tokens a sudden shift in price (like the one we're seeing now) can cause a large and abrupt spike in chargebacks all from the same product category. Wild shifts in the price of a digital commodity is a unique quality of blockchain tokens that totally changes the chargeback risk profile. > How much experience do you have dealing with VISA etc How much experience do you have in the lending business? This has nothing to do with VISA, this is about banks that have to make a decision about lending money. Companies that lend money are valued in large part based on the quality of the loans on their books; when the books are loaded up with crap accounts made up of gambling debt from blockchain enthusiasts who could go bankrupt overnight, it does not inspire confidence.
- patrickg_zill 9y ago
  You're some kind of mind-reader, and can read the minds of all 1.5 million (or whatever the number is) people who initiate chargebacks each year on their credit cards? I have actual experience as a credit card merchant for 10+ years. You have shown yourself to have no real-world knowledge of the situation.
  - root_axis 9y ago
    Why don't you actually respond to what I've written instead of trying to appeal to your own authority? I get it, you have experience as a credit card merchant, congratulations on that achievement, now use that experience to form a response to the argument... though I want to reiterate that the credit card companies have nothing to do with this, even if you just examine the headline you will see that this is a story about banks that don't want to underwrite blockchain gambling.

squeegee5 9y ago

Guy's got an ax to grind, and is happy to make up nonsense regarding systems he doesn't understand. See https://news.ycombinator.com/item?id=16262640 https://news.ycombinator.com/item?id=16262640

root_axis 9y ago
You're replying to someone else, with a passive-aggressive swipe at me, and justifying it by linking to a prior conversation between me and yourself. Take a step back and consider that you might perfectly fit the description of someone with an axe to grind.

root_axis 9y ago

> Chargebacks can be initiated at any time within the chargeback window, regardless of what is purchased. Yes, but as I already explained, the incentive to chargeback is NOT the same regardless of what is purchased. Chargebacks are relatively rare because most people only chargeback if there is a dispute with the merchant, but outside of fraudsters, its not that common for people to chargeback on a product months later. Even with high risk products like porn, there are predictable chargeback rates that can be factored into the overall profitability of the product category, but with blockchain tokens a sudden shift in price (like the one we're seeing now) can cause a large and abrupt spike in chargebacks all from the same product category. Wild shifts in the price of a digital commodity is a unique quality of blockchain tokens that totally changes the chargeback risk profile. > How much experience do you have dealing with VISA etc How much experience do you have in the lending business? This has nothing to do with VISA, this is about banks that have to make a decision about lending money. Companies that lend money are valued in large part based on the quality of the loans on their books; when the books are loaded up with crap accounts made up of gambling debt from blockchain enthusiasts who could go bankrupt overnight, it does not inspire confidence.

patrickg_zill 9y ago
You're some kind of mind-reader, and can read the minds of all 1.5 million (or whatever the number is) people who initiate chargebacks each year on their credit cards? I have actual experience as a credit card merchant for 10+ years. You have shown yourself to have no real-world knowledge of the situation.
- root_axis 9y ago
  Why don't you actually respond to what I've written instead of trying to appeal to your own authority? I get it, you have experience as a credit card merchant, congratulations on that achievement, now use that experience to form a response to the argument... though I want to reiterate that the credit card companies have nothing to do with this, even if you just examine the headline you will see that this is a story about banks that don't want to underwrite blockchain gambling.