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It is true, but with major caveats. Firstly, one has to submit strong evidence, call them repeatedly, and wait for many months. It is not a pleasant experience
by OutOfHere 1y ago
It is true, but with major caveats.
Firstly, one has to submit strong evidence, call them repeatedly, and wait for many months. It is not a pleasant experience.
Secondly, in the real world, any vendor like Amazon or Ebay or Uber or Lyft will immediately freeze the user's account if a dispute is initiated, barring the user from using the service. This is a substantially worse outcome for the user.
- ceejayoz 1y ago> Firstly, one has to submit strong evidence, call them repeatedly, and wait for many months. You should get an Amex. (I've had little issue with various Visa/MC issuing banks, though. Quick and easy.) > Secondly, in the real world, any vendor like Amazon or Ebay or Uber or Lyft will immediately freeze the user's account if a dispute is initiated, barring the user from using the service. In most cases, shady vendors are a one-off concern. If I'm charging back, I'm probably not buying from them again.
- OutOfHere 1y agoI don't order from shady vendors.
- ceejayoz 1y agoI wish I had a time machine! This would explain your apparent confusion around the chargeback process.
- yunohn 1y agoI find it hilarious when crypto nerds argue from a position of being godlike oracle beings who are just so smart they never make mistakes ever (TM) and as such, brush away concerns of fraud etc.
- OutOfHere 1y agoFraud is very real, but let me count the reasons why chargebacks rarely matter: 1. They don't matter for unapproved charges and renewals because crypto doesn't allow charges at all. 2. They don't matter for buying from large sites like Amazon, Ebay, Google, etc. because these large sites will quickly freeze a user's account completely if a chargeback is introduced. Most orders these days go through the large sites. 3. Chargebacks filed with Visa/MC (not Amex) require substantial evidence and follow-up for them to succeed. They are not easy. The time spent on retrieving the money back is hardly worth it for someone with a full-time job.
- yunohn 1y ago1. Not true, see malicious smart contracts. 2. Yes and thanks to modern trad-fi law, it’s incredibly easy to get refunds and returns on basically all retail websites. 3. Not true, trivially disproved by having gone through the process multiple times with various providers myself with minimal effort and documentation. I suggest you DYOR once too.
- OutOfHere 1y agoI appreciate when someone is well informed and shares their knowledge, but: 1. Regarding malicious smart contracts, they can steal only from incompetently written smart contracts. 2. Regarding refunds by large vendors, that's the ideal, but not the reality. I have had Uber reject a refund for unfair reasons when the driver was wasting time and didn't show up for over 15 minutes past the estimated time. I have also had Google provide me no refund for a large transaction on a scam app that fooled me.
- yunohn 1y ago1. Please don’t repeat the No True Scotsman train of argument again and hand wave away the problem by blaming it on “incompetence” - it removes the explicit malice those contracts were coded with. 2. I am struggling to see how this is/would/could ever be solved by crypto.
- yunohn 1y agoThis is provably untrue. I’ve disputed charges on Visa/Mastercard numerous times and had refunds and fraud claims honored every single time with minimal effort.