Re:Dwolla Being Sued by Bitcoiners for $2 Million
by rcthompson on Tuesday March 06, 2012 @04:14PM
(#3672914)
If you sold some artwork you made in your basement and were then defrauded by chargebacks from your payment processor, would you be required to prove that your "artwork" has value in order to claim damages?
The fact that you sold if for an amount agreed upon by you and the buyer is what matters, not any provable intrinsic value the thing being sold may have. Whether you sell $1M diamond or a 5-cent bottle cap for $100, that's $100 in damages if the processor does a fraudulent chargeback.
The fact that you sold if for an amount agreed upon by you and the buyer is what matters, not any provable intrinsic value the thing being sold may have. Whether you sell $1M diamond or a 5-cent bottle cap for $100, that's $100 in damages if the processor does a fraudulent chargeback.