Re:Square obtains NY State cryptocurrency license
by dick_sucker2 on Monday June 18, 2018 @02:20PM
(#17340412)
No chargebacks?
[ Parent
| on HN ]
Re:Square obtains NY State cryptocurrency license
by glitchc on Monday June 18, 2018 @02:27PM
(#17340479)
Is that meant as a positive or a negative, as chargebacks help the consumer, as does non-repudiation. The general public wants these features in our exchange mediums.
Re:Square obtains NY State cryptocurrency license
by dick_sucker2 on Monday June 18, 2018 @02:39PM
(#17340579)
It forces arbitration with the business in the case of a dispute. Wouldn't payment processors and businesses want that?
Re:Square obtains NY State cryptocurrency license
by s73v3r_ on Monday June 18, 2018 @03:25PM
(#17340970)
Consumers don't want that.
Re:Square obtains NY State cryptocurrency license
by DINKDINK on Monday June 18, 2018 @04:04PM
(#17341244)
You can build a system that allows charge backs on a system that doesn't allow charge backs but you cannot build a system without charge backs on a system that does allow charge backs.
These escrow products already exist for customers on Bitcoin.
Re:Square obtains NY State cryptocurrency license
by paulie_a on Monday June 18, 2018 @04:44PM
(#17341549)
That's not a feature it is a drawback.
Re:Square obtains NY State cryptocurrency license
by craigc on Monday June 18, 2018 @05:38PM
(#17341883)
It is actually a feature. From the original Bitcoin whitepaper:
> Transactions that are computationally impractical to reverse would protect sellers from fraud.
Re:Square obtains NY State cryptocurrency license
by paulie_a on Monday June 18, 2018 @05:55PM
(#17341964)
As a buyer I wouldn't use it then.