5 ms·

>It's fun how hard it is for a layperson to buy a Bitcoin in USA. CCs do not work Because it's too easy to claim fraud and have your CC provider initialise a c

>It's fun how hard it is for a layperson to buy a Bitcoin in USA. CCs do not work Because it's too easy to claim fraud and have your CC provider initialise a charge-back. I don't know why you can't go to an ATM or a 7-Eleven and use your CC with your PIN to make a purchase. The CC company will know it's probably you because you entered your PIN and the merchant doesn't risk a charge-back.

Jabbles 14y ago
In the UK this is called Chip and PIN. https://en.wikipedia.org/wiki/Chip_and_PIN https://en.wikipedia.org/wiki/Chip_and_PIN
- JonnieCache 14y ago
  Guess what? It's broken as hell ;) http://www.cl.cam.ac.uk/~sjm217/papers/oakland10chipbroken.pdf http://www.cl.cam.ac.uk/~sjm217/papers/oakland10chipbroken.p...
  - kyrias 14y ago
    Is it really more broken than just having to sign?
    - JonnieCache 14y ago
      Fair point, "as hell" was unwarranted. I mainly just wanted to post that PDF tbh.
  - Nursie 14y ago
    It's not that broken. It's still not trivial to clone them like swipe cards. The thrust of that paper is that using special equipment it's possible to use a genuine stolen card to do a non-PIN transaction, and that banks will often claim that PIN was used in a card-present transaction in order to avoid refunding money. In the UK at least, and with a credit card, the bank is legally bound to return the money pending investigation, regardless of the circumstance. (I agree this doesn't help with the BTC situation because chargeback is still a possibility)
- Colliwinks 14y ago
  And I'm amazed that this hasn't caught on in the US yet. Last time I vistited, I was horrified when they swiped the magnetic strip and asked me to sign for it - felt like I'd jumped back in time.
  - free652 14y ago
    By 2014-2015 all of the cards should be Chip & Pin in USA.
  - nadinengland 14y ago
    After I got back from my last visit to the states I kept handing my card to the staff when I was paying. They usually looked funny at me and put it in the machine rather awkwardly.
InvisibleCities 14y ago
>Because it's too easy to claim fraud and have your CC provider initialise a charge-back. First, you can do this with any CC purchase, and I don't see why bitcoin merchants need any special protection against it. Why would a bitcoin merchant be more likely to get a chargeback than any other merchant? Second, this would definitely be credit card fraud, and easily detectable fraud at that; it's highly likely that anyone who attempted this would wind up in jail.

Jabbles 14y ago

In the UK this is called Chip and PIN. https://en.wikipedia.org/wiki/Chip_and_PIN https://en.wikipedia.org/wiki/Chip_and_PIN

JonnieCache 14y ago
Guess what? It's broken as hell ;) http://www.cl.cam.ac.uk/~sjm217/papers/oakland10chipbroken.pdf http://www.cl.cam.ac.uk/~sjm217/papers/oakland10chipbroken.p...
- kyrias 14y ago
  Is it really more broken than just having to sign?
  - JonnieCache 14y ago
    Fair point, "as hell" was unwarranted. I mainly just wanted to post that PDF tbh.
- Nursie 14y ago
  It's not that broken. It's still not trivial to clone them like swipe cards. The thrust of that paper is that using special equipment it's possible to use a genuine stolen card to do a non-PIN transaction, and that banks will often claim that PIN was used in a card-present transaction in order to avoid refunding money. In the UK at least, and with a credit card, the bank is legally bound to return the money pending investigation, regardless of the circumstance. (I agree this doesn't help with the BTC situation because chargeback is still a possibility)
Colliwinks 14y ago
And I'm amazed that this hasn't caught on in the US yet. Last time I vistited, I was horrified when they swiped the magnetic strip and asked me to sign for it - felt like I'd jumped back in time.
- free652 14y ago
  By 2014-2015 all of the cards should be Chip & Pin in USA.
- nadinengland 14y ago
  After I got back from my last visit to the states I kept handing my card to the staff when I was paying. They usually looked funny at me and put it in the machine rather awkwardly.

InvisibleCities 14y ago

>Because it's too easy to claim fraud and have your CC provider initialise a charge-back. First, you can do this with any CC purchase, and I don't see why bitcoin merchants need any special protection against it. Why would a bitcoin merchant be more likely to get a chargeback than any other merchant? Second, this would definitely be credit card fraud, and easily detectable fraud at that; it's highly likely that anyone who attempted this would wind up in jail.