It's time for us in the tech world to speak out about cryptocurrency

Re:It's time for us in the tech world to speak out about cry... by wmf on Sunday May 30, 2021 @07:20PM (#27337962)

Completely eliminating any risk of chargebacks mostly shifts risk back onto the customer; I don't think it's a net benefit. Some businesses seem to intrinsically have sky-high chargeback rates but I'd prefer that those businesses simply not exist rather than put up with the existence of crypto.

I once bought donuts from a food truck with BTC and the donuts were good but the payment process was really slow.

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Re:It's time for us in the tech world to speak out about cry... by seibelj on Sunday May 30, 2021 @08:57PM (#27338680)

I own a small online business selling custom-configured RPIs and chargebacks are terrible. Businesses build reputations but expect their customers to be anonymous every time. It would be far better if chargebacks were eliminated and customers could review the merchants to reduce fraud. Putting all the risk on the merchants is backwards.

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Re:It's time for us in the tech world to speak out about cry... by AlexandrB on Sunday May 30, 2021 @10:41PM (#27339453)

The merchant is the one who has more capital and more information about the product he's selling. I think it's fair that the merchant bears most of the risk.

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Re:It's time for us in the tech world to speak out about cry... by captn3m0 on Monday May 31, 2021 @01:23AM (#27340459)

Credit Card/Chargebacks are not a silver bullet. Countries like India have alternative payment methods without chargebacks and some Merchants insist on them.

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