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I'd argue that online purchases are so popular precisely because the trust problem has been effectively tackled by Paypal and other processors. If a deal goes b
by socillion 13y ago
I'd argue that online purchases are so popular precisely because the trust problem has been effectively tackled by Paypal and other processors. If a deal goes bad, you can dispute the payment and probably get your money back.
If you're using Liberty Reserve, Bitcoin, Paypal Gift, or anything else like them, your money is gone and there is nothing you can do.
Even if this isn't a problem for you, I think Bitcoin will have to solve it in some way to get any widespread adoption. Irreversible transactions are not popular.
- oleganza 13y agoSee a couple of my comments around this thread. I think irreversible transactions is precisely what is Bitcoin major selling factor. Many merchants will be able to give you a nice discount and eliminate their headaches. You as a customer will get more stuff, cheaper and with a friendlier look at you (living in Paris I see how merchants detest credit card payments for risks and losses involved).
- Nursie 13y agoOr you as the customer can get ripped off with no recourse, especially as less scrupulous types cotton on to the fact that once they have your money there's nothing much you can do about it.
- gamechangr 13y agoThink of the various ebay scams that exist right now around these issues. For example, I have friends who purchased a zpad (kid Ipad) and had a "no questions asked return policy" for 90 days. They sent it back week two and the Chinese company claims to not receive it until day 92. At least my friend could file a complaint so that others would not fall into the same trap. What kind of recourse would you have with bitcoin?