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A comment on Bitcoin ‘Ought to Be Outlawed,’ Nobel Prize Winner Stiglitz Says. Parent comment

Re:Bitcoin ‘Ought to Be Outlawed,’ Nobel Prize Winner Stigli... by jacquesm on Wednesday November 29, 2017 @10:11PM (#15813160)
> solve merchant fraud with irreversible payments

Irreversible payments will help merchants, not solve merchant fraud. If anything they will cut down on consumer fraud but they actually enable merchant fraud.

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Re:Bitcoin ‘Ought to Be Outlawed,’ Nobel Prize Winner Stigli... by coryfklein on Wednesday November 29, 2017 @10:21PM (#15813203)
It solves the kind of fraud where a customer receives irretrievable goods or services in exchange for a bounced check or credit from a stolen credit card.
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Re:Bitcoin ‘Ought to Be Outlawed,’ Nobel Prize Winner Stigli... by euyyn on Thursday November 30, 2017 @12:50AM (#15813767)
Yeah that would be consumer fraud against merchants. No?
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Re:Bitcoin ‘Ought to Be Outlawed,’ Nobel Prize Winner Stigli... by zaarn on Thursday November 30, 2017 @03:16AM (#15814187)
But what about the fraud where a merchant screw over the customer? That will easily affect more people.
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Re:Bitcoin ‘Ought to Be Outlawed,’ Nobel Prize Winner Stigli... by coryfklein on Thursday November 30, 2017 @05:01PM (#15819993)
Yes. Bitcoin certainly shifts the risk from the receiver of money to the payer of money.
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Re:Bitcoin ‘Ought to Be Outlawed,’ Nobel Prize Winner Stigli... by zaarn on Monday December 04, 2017 @02:29AM (#15842164)
Which is in my opinion dangerous, the payer of the money is your average consumer who are regularly falling for spam mail from nigerian royalty.
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