Re:ClearCoin safer bitcoin transactions
by rfugger on Monday May 16, 2011 @12:53PM
(#2553197)
Paypal, credit cards, etc. have dispute resolution services. They don't just allow the buyer to renege arbitrarily. To be useful, it seems to me that an escrow service needs to offer a more robust dispute resolution mechanism, which will cost money.
[ Parent
| on HN ]
not sure what your point is, my point is that in a bitcoin economy you would have choice
for a large purchase either the merchant or the customer may insist on an expensive escrow service that deals with disputes robustly
for small purchases this might not be so important
I saw a comment on HN recently asking why startups never challenge the VISA/MasterCard hegemony, with a response saying it is simply to expensive to enter the market with a low ROI
widespread bitcoin use would lower the barriers for this kind thing, unless you like monopolies and cartels, I can't see how anybody would argue this is a bad thing (regardless of whether you think bitcoin is good, will suceed, whaterver)