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The risks with CC payments are much higher due to identity theft. Paying with CC online without chargebacks is really dangerous. But paying with BTC is like han
by oleganza 13y ago
The risks with CC payments are much higher due to identity theft. Paying with CC online without chargebacks is really dangerous. But paying with BTC is like handing a couple of bucks in cash. Not a big deal. The smallest shops taking small payments can easily earn good reputation and be transparent about how many transactions they processed. So they start with people around them or willing to risk, and then earn better position. When you've done sales for 50K you don't want to steal next 12 bucks to ruin the rest of your life.
I don't see how BTC is cementing big boys. On contrary, BTC is liberating all sorts of small shops. Today they bear huge risks with chargebacks and have to go through a lengthy and complicated setup to even start accepting credit cards. Not even saying that PayPal easily freezes accounts from time to time. Bitcoin solves all of that and allows much more people to enter the market and offer some new awesome stuff. (Both online and offline.)
- Nursie 13y agoIt harms small shops because people like me won't buy from them without a reversible payment feature.