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I think if you've got a genuine concern that the people you're dealing with are going to defraud you, you shouldn't get involved or your should accept the extra

I think if you've got a genuine concern that the people you're dealing with are going to defraud you, you shouldn't get involved or your should accept the extra hassles and costs of an irreversible payment; be it cash, money transfer, or some other such. The world had irreversible payment for fear of fraud before bitcoin, and it will have it after. If you're buying a comic book from a store the next city over and they only take bitcoin, they don't want your custom and accepting the extra cost and hassle of indulging their political leanings isn't worth it.

Scoundreller 8y ago
Generally, I don’t get involved. But if you’re in a developing country, even if your postal system is reliable, it’s hard to get sellers over any perception that you live in a mud hut and must be defrauding them. Bank wires can be recalled, and take a while. My bank even charges $25 or so to receive one. Maybe Western Union would be an option. Bank drafts and cash can be counterfeit, let alone hard to get in my local currency (Canadian dollars). As a seller, I would directly accept a handful of country’s payments directly, and leave the rest in crypto-only via a payment processor that pays me in $. That maximizes my revenue and minimizes my hassle.
- EliRivers 8y ago
  My bank even charges $25 or so to receive one Putting aside everything else, I will say that your bank, like many banks in the US, is frequently found to be taking the piss. For a first world, developed nation, the retail banking sector in the US is in serious need of a bloody nose.
  - Scoundreller 8y ago
    I’m in Canada. At least US bank accounts tend to have no monthly fees unless you want to do uncommon things like receive a transfer. Unless you’re doing a SEPA transfer, the UK bank I looked at still charges for receiving and sending wires. And you always get dinged if there’s a currency exchange.

Scoundreller 8y ago

Generally, I don’t get involved. But if you’re in a developing country, even if your postal system is reliable, it’s hard to get sellers over any perception that you live in a mud hut and must be defrauding them. Bank wires can be recalled, and take a while. My bank even charges $25 or so to receive one. Maybe Western Union would be an option. Bank drafts and cash can be counterfeit, let alone hard to get in my local currency (Canadian dollars). As a seller, I would directly accept a handful of country’s payments directly, and leave the rest in crypto-only via a payment processor that pays me in $. That maximizes my revenue and minimizes my hassle.

EliRivers 8y ago
My bank even charges $25 or so to receive one Putting aside everything else, I will say that your bank, like many banks in the US, is frequently found to be taking the piss. For a first world, developed nation, the retail banking sector in the US is in serious need of a bloody nose.
- Scoundreller 8y ago
  I’m in Canada. At least US bank accounts tend to have no monthly fees unless you want to do uncommon things like receive a transfer. Unless you’re doing a SEPA transfer, the UK bank I looked at still charges for receiving and sending wires. And you always get dinged if there’s a currency exchange.