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A comment on Why Bitcoin Can't Help the Poorest, Yet. Parent comment

Re:Why Bitcoin Can't Help the Poorest, Yet by CyberDildonics on Wednesday January 13, 2016 @10:41PM (#10899477)
If you want to mimic credit cards, just have a company hold the money for 30 days, take %3, and take away any disputed transactions from the business.
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Re:Why Bitcoin Can't Help the Poorest, Yet by bduerst on Thursday January 14, 2016 @12:19AM (#10899789)
A payment system that ties up the funds for 30 days in escrow is even less useful and not competitive.

Again, escrow is neither new nor unique to Bitcoin. It doesn't solve the refund problems. Why do you think it's not used by modern payment systems?

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Re:Why Bitcoin Can't Help the Poorest, Yet by CyberDildonics on Thursday January 14, 2016 @01:55AM (#10900002)
> A payment system that ties up the funds for 30 days in escrow is even less useful and not competitive.

I agree but that's what credit cards are.

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Re:Why Bitcoin Can't Help the Poorest, Yet by bduerst on Thursday January 14, 2016 @02:00AM (#10900011)
Absolutely not. ACH delivers funds in 1-3 business days.

Do you not know how credit cards work?

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Re:Why Bitcoin Can't Help the Poorest, Yet by CyberDildonics on Thursday January 14, 2016 @11:13AM (#10902232)
From wikipedia:

> Businesses increasingly use ACH online to have customers pay, rather than via credit or debit cards.[citation needed]

> Rules and regulations that govern the ACH network are established by NACHA and the Federal Reserve. In 2013, this network processed nearly 22 billion ACH transactions with a total value of $38.7 trillion.[1] Credit card payments are handled by separate networks.

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