Yes and there is a converse problem, the seller ships the item but the customer having received the item fraudulently requests chargeback - this is common, sadl

Yes and there is a converse problem, the seller ships the item but the customer having received the item fraudulently requests chargeback - this is common, sadly. I lose the item, the money and a fee - bitcoin, like cash solves the fraudulent chargeback problem - but the buyer is unprotected. Trusted Escrow solves both problems. The chargeback system isn't good for small retailers. The banks have no incentive to check the system or secure the card as the onus is on the merchant.