Mt. Gox Finds 200,000 Missing Bitcoins

Re:Mt. Gox Finds 200,000 Missing Bitcoins by chockablock on Friday March 21, 2014 @09:21AM (#7442048)

>settling credit card payments ... may take several days, even weeks.

But there is a trusted 3rd party (the issuing bank) that gives an instant reply as to whether the purchaser's account has enough funds (or credit) to make the purchase, and assumes much of the risk if they are wrong and the purchaser is uncollectible.

Maybe they don't need to take 2-5% of each transaction to provide this service, but it does seem like a pure, anonymous bitcoin transaction can not provide this service to a retailer.

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Re:Mt. Gox Finds 200,000 Missing Bitcoins by LyndsySimon on Friday March 21, 2014 @10:52AM (#7442619)

There is no need for this service with Bitcoin - the balance controlled by every address in the network is known to everyone.

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Re:Mt. Gox Finds 200,000 Missing Bitcoins by chockablock on Tuesday March 25, 2014 @10:54AM (#7466204)

I was referring to the fact that credit card companies prevent (or at least take responsibility for) double-spending.

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