4 ms·
Hahaha, of course. You're thinking is that bitcoin is good, because there is no withholding. It is something stupid that paypal is doing, but do you think they
by spamtarget 5y ago
Hahaha, of course. You're thinking is that bitcoin is good, because there is no withholding. It is something stupid that paypal is doing, but do you think they do this because it is their hobby? Or maybe they enjoy the negative publicity? You exactly pinpointed one of the major problems with bitcoin: if you are scammed, there is no remedy.
- deleted 5y ago[deleted]
- kragen 5y agoWhether the irreversibility of payments is a feature or a bug depends on the situation. Clearly reversible payments are a bad fit not only for scammers but also for things like Turing Pi. More interestingly, they're also a bad fit for online payment systems like Paypal. Paypal steals its customers' money like this because it's profitable for them to do so; receiving money from money senders and then just keeping it is very profitable indeed. But they get away with doing it, despite the bad publicity, because there's no less-corrupt alternative their customers can switch to. The other Paypal-like companies born late last millennium all failed because the reversible payment infrastructure of the credit card and banking system stuck them with the bill for whatever scams and fraud were perpetrated on their platforms.