News for hackers. Stuff that matters.
Re:Square obtains NY State cryptocurrency license by dick_sucker2 on Monday June 18, 2018 @02:20PM (#17340412)
No chargebacks?
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.

https://bitcoin.org/bitcoin.pdf

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.
Re:Square obtains NY State cryptocurrency license by craigc on Monday June 18, 2018 @06:01PM (#17341987)
Mmm. I am not sure if Square actually lets you transact using Bitcoin or if this is just about purchasing and selling it to hold it as an investment. I haven’t actually tested it out.