Richard Stallman: We Can Do Better Than Bitcoin

Re:Richard Stallman: We Can Do Better Than Bitcoin by deepnet on Monday November 26, 2018 @08:18AM (#18533084)

Yes and there is a converse problem, the seller ships the item but the customer having received the item fraudulently requests chargeback - this is common, sadly.

I lose the item, the money and a fee - bitcoin, like cash solves the fraudulent chargeback problem - but the buyer is unprotected.

Trusted Escrow solves both problems.

The chargeback system isn't good for small retailers. The banks have no incentive to check the system or secure the card as the onus is on the merchant.

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Re:Richard Stallman: We Can Do Better Than Bitcoin by mikeash on Monday November 26, 2018 @08:34AM (#18533197)

The chargeback system is the only reason I’m willing to patronize small retailers at all in many circumstances. If it were really a net negative for them, they wouldn’t accept cards at all.

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Re:Richard Stallman: We Can Do Better Than Bitcoin by Frondo on Monday November 26, 2018 @08:47AM (#18533289)

You don't need bitcoin to operate an escrow service.

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