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So, instead of having the possible risk to the seller that a buyer could do a chargeback (which the seller can fight on PayPal with proof of delivery, though I'
by JohnTHaller 13y ago
So, instead of having the possible risk to the seller that a buyer could do a chargeback (which the seller can fight on PayPal with proof of delivery, though I'm not claiming how well this works), bitcoin shifts all that risk to the buyer (with no recourse at all). It's as risky as sending a money order through the mail. How does this make bitcoin better than PayPal for the overall transaction (for BOTH buyer and seller)?
- Anderkent 13y agoIt gives them flexibility. (Additionally, multisig transactions cancel all the risk as long as they can find a 3rd party trusted to make the decision) The seller can still go first, if he's prepared to shoulder the risk. Then the buyer can send the money once they receive the item. This is the same as using paypal. If neither party is willing to go first, they have to either use a trusted middleman (seller gives item to middleman, buyer sends money, seller confirms to middleman, middleman releases item), or multisig transactions (the same, except the middleman can't run away with the money/item)