> Who is the arbiter? Who pays for the arbiter? Do I have to negotiate for an arbiter for every purchase I make? How do you do it with traditional financial in

> Who is the arbiter? Who pays for the arbiter? Do I have to negotiate for an arbiter for every purchase I make? How do you do it with traditional financial instruments? You probably sign a long-term contract with some agency just as you would if you were signing up for a credit card. Or you could simply not worry about arranging any kind of arbitration for such a low-value purchase, or simply just use fiat currency for those things (there's no reason it can't continue to coexist with cryptocurrencies).