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You're not very good at experimenting then. I first bought BTC in 2013 because of a legitimate purpose: to pay for online goods (legal software) to a seller who

You're not very good at experimenting then. I first bought BTC in 2013 because of a legitimate purpose: to pay for online goods (legal software) to a seller who wanted to completely eliminate any risk of chargebacks.

eli 5y ago
And 8 years later the fees no longer make it viable for even that niche use case.
- tuesdayrain 5y ago
  Surely you recognize that this is a bad faith argument? The average transaction fee today is around $8 USD. That's a small price to pay for knowing that a transaction is set in stone.
  - Clewza313 5y ago
    It's a pretty high price to pay for donuts though. Especially since it's kind of hard to reverse a donut transaction after you've eaten them.
- baby 5y ago
  What fee? Are you talking about a specific currency or all currencies? In Celo currently fees are 0.1 cent per transaction, for example.
  - input_sh 5y ago
    I've never heard of a single physical item being sold for any other cryptocurrency, only Bitcoin. How would a merchant of physical goods even know about something like Celo, whatever that is?
    - baby 5y ago
      Adoption takes time.
wmf 5y ago
Completely eliminating any risk of chargebacks mostly shifts risk back onto the customer; I don't think it's a net benefit. Some businesses seem to intrinsically have sky-high chargeback rates but I'd prefer that those businesses simply not exist rather than put up with the existence of crypto. I once bought donuts from a food truck with BTC and the donuts were good but the payment process was really slow.
- seibelj 5y ago
  I own a small online business selling custom-configured RPIs and chargebacks are terrible. Businesses build reputations but expect their customers to be anonymous every time. It would be far better if chargebacks were eliminated and customers could review the merchants to reduce fraud. Putting all the risk on the merchants is backwards.
  - AlexandrB 5y ago
    The merchant is the one who has more capital and more information about the product he's selling. I think it's fair that the merchant bears most of the risk.
  - captn3m0 5y ago
    Credit Card/Chargebacks are not a silver bullet. Countries like India have alternative payment methods without chargebacks and some Merchants insist on them.

eli 5y ago

And 8 years later the fees no longer make it viable for even that niche use case.

tuesdayrain 5y ago
Surely you recognize that this is a bad faith argument? The average transaction fee today is around $8 USD. That's a small price to pay for knowing that a transaction is set in stone.
- Clewza313 5y ago
  It's a pretty high price to pay for donuts though. Especially since it's kind of hard to reverse a donut transaction after you've eaten them.
baby 5y ago
What fee? Are you talking about a specific currency or all currencies? In Celo currently fees are 0.1 cent per transaction, for example.
- input_sh 5y ago
  I've never heard of a single physical item being sold for any other cryptocurrency, only Bitcoin. How would a merchant of physical goods even know about something like Celo, whatever that is?
  - baby 5y ago
    Adoption takes time.

wmf 5y ago

Completely eliminating any risk of chargebacks mostly shifts risk back onto the customer; I don't think it's a net benefit. Some businesses seem to intrinsically have sky-high chargeback rates but I'd prefer that those businesses simply not exist rather than put up with the existence of crypto. I once bought donuts from a food truck with BTC and the donuts were good but the payment process was really slow.

seibelj 5y ago
I own a small online business selling custom-configured RPIs and chargebacks are terrible. Businesses build reputations but expect their customers to be anonymous every time. It would be far better if chargebacks were eliminated and customers could review the merchants to reduce fraud. Putting all the risk on the merchants is backwards.
- AlexandrB 5y ago
  The merchant is the one who has more capital and more information about the product he's selling. I think it's fair that the merchant bears most of the risk.
- captn3m0 5y ago
  Credit Card/Chargebacks are not a silver bullet. Countries like India have alternative payment methods without chargebacks and some Merchants insist on them.