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Bitcoin => Bitcoin Discussion => Topic started by: mexxer-2 on September 28, 2015, 09:44:57 AM



Title: What would you do if it became reversible like paypal?
Post by: mexxer-2 on September 28, 2015, 09:44:57 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: OmegaStarScream on September 28, 2015, 09:47:34 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?

That's not going to happen , and being irreversible is probably one of the biggest reasons that people are using Bitcoin right now . And even if Satoshi manage the disputes as you say , that will destroy the fact that Bitcoin is decentralized because we will need a third party which is Satoshi , and that's just going to kill Bitcoin .
I'am not even sure if it's possible to change source code to make it reversible , at least not that easy . So to answer your question .. no I won't be using Bitcoin anymore if that happens (which won't for sure)


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: ajrah on September 28, 2015, 09:48:50 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
More scams will come out in all directions if that happens.
Just imagine this, today bitcoin payment is non-reversible but you see a lot of scams left and right, what more if its reversible and traceable :)


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: ranochigo on September 28, 2015, 09:48:55 AM
Definitely not. The decentralisation nature of Bitcoin prohibits anyone from being able to be the central neutral party which handles all the trades. It is possible to create a multisig 2 of 3 address, hand one to the escrow, one each to the seller and buyer. The escrow can then handle any disputes and the payment will not be received till 2 of the 3 party agrees. That is if the escrow is trusted enough.


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: bitkilo on September 28, 2015, 09:58:47 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
It wouldn't happen full stop, it can't happen.
Bitcoin is a irreversible payment system. The only way you could have it reverse would be to send your btc to a 3rd party then have them release the funds when you say it's ok, totally defeats the purpose of bitcoin.
Chargeback are probably one of the reasons interest rates are so high on credit cards.

As for satoshi coming out of hiding just to settle desputes and give chargeback, well that would be funny.  :D


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: NorrisK on September 28, 2015, 09:59:13 AM
That would never happen in the bitcoin protocol itself. Maybe there will be services that will provide this feature (just like paypal offers this for its customers). But that would be a certain form of escrow. (service holds coins for x days until no dispute is claimed, then releases it for instance).

Having satoshi check all disputes is just madness. No single person can do this. Let alone an anonymous figure.


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: mexxer-2 on September 28, 2015, 10:11:44 AM
Seems people are taking my comment way too seriously, when I said "Satoshi" I meant a company and as for the change in protocol I think if most people agree on it it can be done(correct me if I am wrong though).
Lastly, should this be in speculation as this is talking about a hypothetical situation?


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: randy8777 on September 28, 2015, 10:21:55 AM
bitcoin like it is now, is different from all the other payment services and debit card companies. that's why we like it. if too much is being changed to suit the needs of average joe's, then what makes bitcoin exactly different from paypal and so on??


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: mexxer-2 on September 28, 2015, 10:24:01 AM
bitcoin like it is now, is different from all the other payment services and debit card companies. that's why we like it. if too much is being changed to suit the needs of average joe's, then what makes bitcoin exactly different from paypal and so on??
Yup but the question is not whether you like it or not, the question is will you still use it?


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: cryptworld on September 28, 2015, 10:33:18 AM
But the point is that paypal decides( sometimes wrongly) if the transaction can be reversed or not

But who would decide it in bitcoin? if someone did it,it would not be decentralized anymore.

If it can be reversed in any conditions it would not have sense cause you would never have security in your transactions


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: Amph on September 28, 2015, 10:39:30 AM
bitcoin like it is now, is different from all the other payment services and debit card companies. that's why we like it. if too much is being changed to suit the needs of average joe's, then what makes bitcoin exactly different from paypal and so on??
Yup but the question is not whether you like it or not, the question is will you still use it?

this go against the decentralized nature, because who have the money is forced to give you back and not by his will, otherwise there is already the possibility of getting the money back by trusting in the recipient

everything that force you to do something, should be banned from what bitcoin is


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: GamNoob on September 28, 2015, 11:10:46 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?

Then many people will quit bitcoin.  ;D


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: phishead on September 28, 2015, 11:16:09 AM
Seems people are taking my comment way too seriously, when I said "Satoshi" I meant a company and as for the change in protocol I think if most people agree on it it can be done(correct me if I am wrong though).
Lastly, should this be in speculation as this is talking about a hypothetical situation?

It would be scary if say like circle got too much influence over the bitcoin community, that it would implement something like this to destroy bitcoin. Idk, something about circle is just fishy to me and I personally don't like it.  I have a feeling that it has a purpose to slowly but surely destroy bitcoin in some kind of way; but maybe my tinfoil hat is just on too tight... But regardless, something about circle just resembles paypal to me.


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: tiggytomb on September 28, 2015, 11:22:34 AM
IF it did happen then it would be a very dangerous world, there would be an amazing amount of scams happening even more so than there are now, it would add to the negativity that surrounds Bitcoin and eventually kill it.


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: neoneros on September 28, 2015, 11:30:24 AM
It will never happen, you cannot compare Bitcoin with Paypal. It is like saying you reverse a cash payment or any payment in fiat. Once it is done, it is done. The only one to reverse it should be the person or company on the receiving end.

Paypal could incorporate Bitcoin in their payment methods, and make it reversible, acting like an escrow. I do not think Bitcoin should be thought more of than just the crypto currency it is. Trying to add fancy and quirky features will only break it's simplicity and only narrow down its ways in which we can use the blockchain and limit the possibilities and only  stand in the way of development.


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: |Bitcoin| on September 28, 2015, 11:35:31 AM
I QUIT! YOU QUIT! WE QUIT!

But the scenario you gave is out of question impossible. We have the source code and if a developer decide to chnaqge bitcoin like paypal. We have the community to start a new bitcoin.


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: mexxer-2 on September 28, 2015, 11:36:37 AM
I QUIT! YOU QUIT! WE QUIT!

But the scenario you gave is out of question impossible. We have the source code and if a developer decide to chnaqge bitcoin like paypal. We have the community to start a new bitcoin.
But then you'd have to start all the way from $0, I wonder if many people would like to go from $0 dumping their hard earned coins


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: Stifler on September 28, 2015, 11:38:57 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?

It would defeat the purpose of it and ruin it. If you want this sort of protection use a payment processor (like paypal also is).


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: Rude Boy on September 28, 2015, 11:54:33 AM
Why not? I'll use always. Becuase, i'm using paypal too (which has reversible payment method). But the thing is if bitcoin having the reversible payment method, its hard to get the bitcoin accepting stores, IMO.


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: Pursuer on September 28, 2015, 11:55:30 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?

this is not possible at all. to do so, you will need to create and altcoin which will never be bitcoin.

but if we remove the not-reversibility from bitcoin I think it still has many other good benefits which makes it worth using. one of them that I can name right now is the decentralization of bitcoin.


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: Q7 on September 28, 2015, 01:34:41 PM
In reality the system has been designed so that payments are irreversible. But even if the feature does become available, I don't think that I would ever want to use it again. If you have chargebacks who is going to decide which party to win in the disputes and since in bitcoin there is no central authority to decide that, I can imagine that chaos that is going to happen. We have seen how bad things can be when you have chargebacks and no way would I want the same thing to happen to bitcoin.


Title: Re: What would you do if it became reversible like paypal?
Post by: Mickeyb on September 28, 2015, 02:00:44 PM
If this was to happen, you would destroy one of the key features that Bitcoin has for itself that other payment systems don't, a decentralization. So Bitcoin essentially wouldn't be Bitcoin anymore. That being sad I don't see this ever happening!


Title: Re: What would you do if it became reversible like paypal?
Post by: mexxer-2 on September 28, 2015, 02:02:03 PM
If this was to happen, you would destroy one of the key features that Bitcoin has for itself that other payment systems don't, a decentralization. So Bitcoin essentially wouldn't be Bitcoin anymore. That being sad I don't see this ever happening!
Umm you may have realized I changed the topic title, so now the question is "What will you do?"


Title: Re: What would you do if it became reversible like paypal?
Post by: gentlemand on September 28, 2015, 02:06:07 PM
I wonder how much misery irreversibility causes versus reversibility. It probably balances out quite nicely.

Reversibility naturally requires a third party so that being the case I'd be out.


Title: Re: What would you do if it became reversible like paypal?
Post by: Mickeyb on September 28, 2015, 02:30:57 PM
If this was to happen, you would destroy one of the key features that Bitcoin has for itself that other payment systems don't, a decentralization. So Bitcoin essentially wouldn't be Bitcoin anymore. That being sad I don't see this ever happening!
Umm you may have realized I changed the topic title, so now the question is "What will you do?"

Oh OK, I didn't see you changed it. Well this is easy. If this was to happen I think that Bitcoin would be done. Everyone would just change it for some other crypto that wouldn't act like this.

But it's stupid to even  talk about this since this will never happen!


Title: Re: What would you do if it became reversible like paypal?
Post by: Maskedman on September 28, 2015, 02:35:01 PM
If it was that case,I could imagine bitcoin would fall into chaos. Because satoshi is not here anymore. So who will replace his role? BTW miners who get the transactions as rewards will return the money. How could that happen?


Title: Re: What would you do if it became reversible like paypal?
Post by: LiteCoinGuy on September 28, 2015, 02:41:05 PM
it is not reversible like paypal BUT you can put a system on top of bitcoin which is reversible like paypal. the beauty of bitcoin  ;)


Title: Re: What would you do if it became reversible like paypal?
Post by: coinplus on September 28, 2015, 02:46:21 PM
I wonder how much misery irreversibility causes versus reversibility. It probably balances out quite nicely.

Reversibility naturally requires a third party so that being the case I'd be out.

Yes, in a decentralized system reversible is not at all possible. The reversible features still  can be associated with bitcoin by having escrow functionality with a trusted mediators. Reversibility and decentralization are two different extremes. Liberty reserve had irreversible features still centralized system.


Title: Re: What would you do if it became reversible like paypal?
Post by: Kprawn on September 28, 2015, 04:18:48 PM
It's not totally impossible, if this happens off-chain through a service like Xapo. If Xapo have enough proof that the coins send from one Xapo user to another, was fraudulent or

a crime, they might intervene and reverse the transaction, before it gets to the Blockchain. Then again, if for some miraculous reason, someone submit a BIP with this feature,

and it gets accepted {which it will never do} ... I would most probably stop using Bitcoin.  :(


Title: Re: What would you do if it became reversible like paypal?
Post by: okae on September 28, 2015, 06:19:52 PM
it will never happen, bitcoin became reversible like paypal? never!, community will never allow it or simply will create a new currency... i really think that be irreversible is one of the best characteristics that loves the bitcoin community, so as i say, community will never allow that.


Title: Re: What would you do if it became reversible like paypal?
Post by: SerenaL on September 28, 2015, 06:21:41 PM
I would stop using it since it would be more riskier than paypal. I really doubt something like that will ever happen.


Title: Re: What would you do if it became reversible like paypal?
Post by: coinpr0n on September 28, 2015, 06:30:33 PM
If you want / need a third-party for conflict resolution you can just use an escrow with multisignature transactions. Bitcoin is reversible.


Title: Re: What would you do if it became reversible like paypal?
Post by: stfu on September 28, 2015, 07:05:28 PM
Bitcoin isn't going to offer this ever and if it did it would ruin bitcoin. What sort of currency would be good where you can take it back after you've sent it.


Title: Re: What would you do if it became reversible like paypal?
Post by: 7788bitcoin on September 28, 2015, 09:43:23 PM
One of the greatest advantage of Bitcoin is non-reversible payment and I think Bitcoin will fail if the transmissions become reversible. However, I guess reversible payment will be enabled by other platforms built around Bitcoin and will be available- such as Paypal integrate with Bitcoin??


Title: Re: What would you do if it became reversible like paypal?
Post by: Yofun on September 28, 2015, 09:48:42 PM
Yeah...This is not possible. It would require a hard fork. And you would never get the whole community to switch to it.


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: jonald_fyookball on September 28, 2015, 09:49:15 PM
In reality the system has been designed so that payments are irreversible. But even if the feature does become available, I don't think that I would ever want to use it again. If you have chargebacks who is going to decide which party to win in the disputes and since in bitcoin there is no central authority to decide that, I can imagine that chaos that is going to happen. We have seen how bad things can be when you have chargebacks and no way would I want the same thing to happen to bitcoin.

http://cdn.meme.am/instances/400x/50089485.jpg


Title: Re: What would you do if it became reversible like paypal?
Post by: knowhow on September 28, 2015, 09:54:27 PM
First of all ,the current price of bitcoin will be worthing 0,00001 dollars as community saw it can be reversible,second moment i would left it in the same time,the concept is to be decentralized if disputes would start it would become centralized ,soo this wont happen and if happens will mean the end of crypto world,since others may follow bitcoin.


Title: Re: What would you do if it became reversible like paypal?
Post by: Wapinter on September 28, 2015, 09:58:59 PM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?
I will definitely continue to use and support bitcoin even if it become reversible because bitcoin is the most convinent way of making transaction.I have'nt abondened PayPal although it is reversible so why would I give up on btc?


Title: Re: What would you do if it became reversible like paypal?
Post by: LieTOme on September 29, 2015, 05:16:06 AM
bitcoin designed differently with paypal. paypal run a company while bitcoin designed by everyone


Title: Re: What would you do if it became reversible like paypal?
Post by: Holliday on September 29, 2015, 05:19:31 AM
No, I wouldn't quit. I (and anyone else with two brain cells) simply wouldn't install the forked software.


Title: Re: What would you do if it became reversible like paypal?
Post by: lemipawa on September 29, 2015, 05:32:56 AM
This may happen if initiated by a wallet provider like blockchain address payment to another blockchain address payment or coinbase to coinbase. But if its from unknown source to another unknown source, I don't think this will happen.


Title: Re: What would you do if it became reversible like paypal?
Post by: gtglener on September 29, 2015, 06:37:46 AM
I guess Xapo kind of wallet provides can implement reversible features if our community wanted this features as escrow. But i do not like this feature.


Title: Re: What would you do if it became reversible like paypal?
Post by: S4VV4S on September 29, 2015, 07:16:40 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

Reversing a transaction is practically impossible.
Not including one in a block (for a small period of time) is theoretically possible though.
But would require a tremendous amount of hashing power (+51%).


Title: Re: What would you do if it became reversible like paypal?
Post by: mexxer-2 on September 29, 2015, 07:43:32 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

Reversing a transaction is practically impossible.
Not including one in a block (for a small period of time) is theoretically possible though.
But would require a tremendous amount of hashing power (+51%).
Say it is possible, what will you do quit or not?
Man TBH I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you where I have said the same thing


Title: Re: What would you do if it became reversible like paypal?
Post by: kpitti on September 29, 2015, 07:49:16 AM
It will not happen, this is clearly benefit feature here.
If this will happen then I will probably not use it anymore!


Title: Re: What would you do if it became reversible like paypal?
Post by: jonatuzc on September 29, 2015, 07:49:26 AM
Satoshi designed irreversible digital money system. So, making irreversible transaction might lead to a centralized environment which is completely against bitcoins basic idea.


Title: Re: What would happen to bitcoin if it became reversible like paypal?
Post by: randy8777 on September 29, 2015, 08:26:02 AM
bitcoin like it is now, is different from all the other payment services and debit card companies. that's why we like it. if too much is being changed to suit the needs of average joe's, then what makes bitcoin exactly different from paypal and so on??
Yup but the question is not whether you like it or not, the question is will you still use it?

yes, i think i will still use it but in a different way than i am doing right now. especially when you do business with unknown people.


Title: Re: What would you do if it became reversible like paypal?
Post by: doublemore on September 29, 2015, 08:33:44 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post

It can only be reversable with 3rd party, if its reversable with 2 parties, sender and receiver then it becomes useless as a payment system.


Title: Re: What would you do if it became reversible like paypal?
Post by: Ceizer54 on September 29, 2015, 08:47:09 AM
I Will quit using bitcoin if it ever become reversible and i think most people will do the same...I use bitcoin because it gives freedom over our money and if someone starts controlling that then there is no difference left between fiat and bitcoin


Title: Re: What would you do if it became reversible like paypal?
Post by: Wapinter on September 29, 2015, 10:01:50 AM
I guess Xapo kind of wallet provides can implement reversible features if our community wanted this features as escrow. But i do not like this feature.
They can't reverse it they can at best hold the funds until sender ask them to release. Once released and sent,xapo cant get it back


Title: Re: What would you do if it became reversible like paypal?
Post by: Brooker on September 29, 2015, 10:11:32 AM
I would ditch bitcoin if this happened but thankfully it wont. To do this would be to fundamentally change the protocol and the purpose of bitcoin. Remember cash transactions aren't reversible either but bank transactions and paypal are which are systems built on top of it.


Title: Re: What would you do if it became reversible like paypal?
Post by: Soros Shorts on September 29, 2015, 11:42:17 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

Reversing a transaction is practically impossible.
Not including one in a block (for a small period of time) is theoretically possible though.
But would require a tremendous amount of hashing power (+51%).
Say it is possible, what will you do quit or not?
Man TBH I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you where I have said the same thing

Well, being reversible means that there was a Centralized Authority controlling Bitcoin and managing reversals. In that case, of course I will stopusing it. If payments were reversible who is to say that bitcoins cannot be seized by a government or bank? After all you can simply reverse payments until the coins are in a government/bank controlled wallet. Due to the 21M limitation, at some point in time a lot of coins would have traveled "around the block" and passed though many unfriendly wallets.


Title: Re: What would you do if it became reversible like paypal?
Post by: knowhow on September 29, 2015, 08:35:47 PM
As i said before if they try to make that happen bitcoin will die in the same day of the announcement of reversible option.Being able to control all the transactions is insane and wouldnt make any sense ,we choosed bitcoin because his great low fees ,its volatility and technology inside it,if we were looking for another payment processor we would use the paypal as i know the most safe at online for honest projects.There is others as payza and more but well they support some bad investments projects thats why paypal get the biggest clients.


Title: Re: What would you do if it became reversible like paypal?
Post by: PolarPoint on September 29, 2015, 08:42:26 PM
The chargeback feature will never be implemented on the bitcoin protocol. It is not possible to do that because chargeback involves disputes and there is no central authority to handle that. Chargeback can be done by escrow and third party payment systems using bitcoin as the currency.


Title: Re: What would you do if it became reversible like paypal?
Post by: LFC_Bitcoin on September 29, 2015, 08:45:38 PM
What would you do if it became reversible like paypal?

Pointless question & therefore a pointless thread - i.e. It will never happen so it's not worth elaborating (it's impossible).

End thread!


Title: Re: What would you do if it became reversible like paypal?
Post by: ATguy on September 29, 2015, 08:51:04 PM
Say it is possible, what will you do quit or not?
Man TBH I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you where I have said the same thing


I would not use reversible coin. I  dont use online wallets for similar reason, and because such reversibility can be used only there, I avoid such places as much as I can.



Title: Re: What would you do if it became reversible like paypal?
Post by: fryarminer on September 29, 2015, 10:38:03 PM
This is what signature campaigns have reduced bitcointalk to.


Title: Re: What would you do if it became reversible like paypal?
Post by: smith coins on September 29, 2015, 10:48:39 PM
If bitcoin became reversible like PayPal then i will not quit it, but i will use less maybe.
Or just exchanging from bitcoin to paypal to trusted exchanges and use paypal like bitcoin.
I think that something else will be invented that will not be reversible.


Title: Re: What would you do if it became reversible like paypal?
Post by: MicroGuy on September 30, 2015, 02:33:26 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post

This would require the 'mother of all hard forks'. On a difficulty scale of 1-to-1,000 with changing one line of code to increase the block size being a 10; forking to support Satoshi authorized chargebacks would be a 1,001. Basically, it's a silly (http://www.thefreedictionary.com/silly) hypothetical because it can't happen.


Title: Re: What would you do if it became reversible like paypal?
Post by: BitcoinEXpress on September 30, 2015, 02:36:36 AM
Q.) What would you do if it became reversible like paypal?


A.) Congratulate Gavin and Mike Hearn on getting Bitcoin XT pushed through.




~BCX~


Title: Re: What would you do if it became reversible like paypal?
Post by: EthanB on September 30, 2015, 03:29:23 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post

I don't think the person who created the framework for Paypal personally settles disputes. ;)

However, if BTC became reversible it would die.. Fast

I would lose interest entirely.


Title: Re: What would you do if it became reversible like paypal?
Post by: kelsey on September 30, 2015, 03:39:57 AM
well i for one woke up this morning thinking to myself; "you know what the world really needs, another paypal"  ::)


Title: Re: What would you do if it became reversible like paypal?
Post by: tokeweed on September 30, 2015, 05:17:00 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post

No idea where this is headed.  Please expain because your hypothetical situation is just too stupid to give a comment to.


Title: Re: What would you do if it became reversible like paypal?
Post by: Shadowblade on September 30, 2015, 05:23:25 AM
if this happens it will be much harder for us to transact and there will be
scams everywhere


Title: Re: What would you do if it became reversible like paypal?
Post by: mexxer-2 on September 30, 2015, 06:45:06 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post

No idea where this is headed.  Please expain because your hypothetical situation is just too stupid to give a comment to.
Definition of a hypothetical situation:
Quote
assumed or thought to exist
. And if it is dumb for you , you are free not to post your opinion.


Title: Re: What would you do if it became reversible like paypal?
Post by: n3o111 on September 30, 2015, 11:01:35 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

As most of others said it's impossible. Satoshi manages disputes? I laughed at that part. Reversible payments are one of the most important specifications in Bitcoin. You get money from other side of the world, you don't want to get disputed. Plus nobody can deny or reverse these payments, Bitcoin is not a corporation.


Title: Re: What would you do if it became reversible like paypal?
Post by: mexxer-2 on September 30, 2015, 11:15:13 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

As most of others said it's impossible. Satoshi manages disputes? I laughed at that part. Reversible payments are one of the most important specifications in Bitcoin. You get money from other side of the world, you don't want to get disputed. Plus nobody can deny or reverse these payments, Bitcoin is not a corporation.
Christ is it that hard for people to imagine? I've repeated this more than 10 times already I guess, just imagine if it does become reversible what will you do then?


Title: Re: What would you do if it became reversible like paypal?
Post by: n3o111 on September 30, 2015, 11:27:17 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

As most of others said it's impossible. Satoshi manages disputes? I laughed at that part. Reversible payments are one of the most important specifications in Bitcoin. You get money from other side of the world, you don't want to get disputed. Plus nobody can deny or reverse these payments, Bitcoin is not a corporation.
Christ is it that hard for people to imagine? I've repeated this more than 10 times already I guess, just imagine if it does become reversible what will you do then?

That's not up to imagination. That's making the working system not to work anymore. That's absurd question like, "imagine you can go Mars with school bus." What will you do? You'll die when you're still in the atmosphere.
Bitcoin is not a corporation. Who handle all these disputes? "Satoshi himself"? That's not funny anymore.
Who put laws and rules? That means it become a centralized system. Of course nobody here will use it.


Title: Re: What would you do if it became reversible like paypal?
Post by: mexxer-2 on September 30, 2015, 11:35:14 AM
Quote
That's not up to imagination.
yes it is anything can be imaginable.
Quote
That's absurd question like, "imagine you can go Mars with school bus." What will you do? You'll die when you're still in the atmosphere.
However absurd it may sound, if people are willing and a company takes up the initiative+ blockchain is intregrated or entirely replaced by a company it may be possible.
it is not reversible like paypal BUT you can put a system on top of bitcoin which is reversible like paypal. the beauty of bitcoin  ;)
It's not totally impossible, if this happens off-chain through a service like Xapo. If Xapo have enough proof that the coins send from one Xapo user to another, was fraudulent or

a crime, they might intervene and reverse the transaction, before it gets to the Blockchain. Then again, if for some miraculous reason, someone submit a BIP with this feature,

Quote
Bitcoin is not a corporation. Who handle all these disputes? "Satoshi himself"? That's not funny anymore.
Whats not funny in that anyway, 
Quote
Seems people are taking my comment way too seriously, when I said "Satoshi" I meant a company
I think thats enough for your useless blabber I'm not asking for your opinion if you don't want to give but dont go off-topic I am just asking what you will do.


Title: Re: What would you do if it became reversible like paypal?
Post by: EthanB on September 30, 2015, 12:18:04 PM
well i for one woke up this morning thinking to myself; "you know what the world really needs, another paypal"  ::)

I might be really tired, but I found ^ extremely funny.


Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post

No idea where this is headed.  Please expain because your hypothetical situation is just too stupid to give a comment to.

I thought we were all just playing along.  ???


Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post

No idea where this is headed.  Please expain because your hypothetical situation is just too stupid to give a comment to.
Definition of a hypothetical situation:
Quote
assumed or thought to exist
. And if it is dumb for you , you are free not to post your opinion.

His opinion has already been posted,"too stupid", he proclaimed.


Title: Re: What would you do if it became reversible like paypal?
Post by: teukon on September 30, 2015, 12:22:19 PM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

Yes, I'd quit.  In such a scenario, I'd fully expect an altcoin to eventually take Bitcoin's place and I'd start using an assortment of the most likely candidates.


Title: Re: What would you do if it became reversible like paypal?
Post by: mexxer-2 on September 30, 2015, 12:23:58 PM
----snip----

His opinion has already been posted,"too stupid", he proclaimed.
Opinion on the question not about the question, even a definitive answer like I quit will do if he wants. If any opinion on a question was to be done on bitcointalk, we could be looking at pretty off-topic things like "Oh when I was looking at my posts, a butterfly came and sat on my hand" on a question about "Is forum's My posts viewable for you?".


Title: Re: What would you do if it became reversible like paypal?
Post by: boopy265420 on September 30, 2015, 12:24:52 PM
If this will ever happen let's suppose sometimes I would immediately quit the use of Bitcoin.Just like other this is the basic feature which made the Bitcoin successful and kept in on the track although the real success and to go mainstream fully is still far.


Title: Re: What would you do if it became reversible like paypal?
Post by: EthanB on September 30, 2015, 12:27:36 PM
----snip----

His opinion has already been posted,"too stupid", he proclaimed.
Opinion on the question not about the question, even a definitive answer like I quit will do if he wants. If any opinion on a question was to be done on bitcointalk, we could be looking at pretty off-topic things like "Oh when I was looking at my posts, a butterfly came and sat on my hand" on a question about "Is forum's My posts viewable for you?".

I'm sorry, but I don't agree that those are the same things. He's scrutinizing the question because the hypothetical doesn't make sense; Nothing said was off-topic.


Title: Re: What would you do if it became reversible like paypal?
Post by: mexxer-2 on September 30, 2015, 12:31:08 PM
----snip----

His opinion has already been posted,"too stupid", he proclaimed.
Opinion on the question not about the question, even a definitive answer like I quit will do if he wants. If any opinion on a question was to be done on bitcointalk, we could be looking at pretty off-topic things like "Oh when I was looking at my posts, a butterfly came and sat on my hand" on a question about "Is forum's My posts viewable for you?".

I'm sorry, but I don't agree that those are the same things. He's scrutinizing the question because the hypothetical doesn't make sense; Nothing said was off-topic.
Very well then I have posted my argument for his opinion and as I see he hasn't made a comeback with another one I guess I am right then.
Anyway, I have repeated in the OP that I do not want the "thats impossible" type of statements.


Title: Re: What would you do if it became reversible like paypal?
Post by: leex1528 on September 30, 2015, 12:34:14 PM
I would absolutely not be using Bitcoin if they could reverse transactions.  Paypal is already bad enough with all the scammers out there and they do absolutely no protection for the seller.  It simply isn't worth it if you are able to reverse the transaction.  Bitcoin would be dead in a few months if that ever happened.


Title: Re: What would you do if it became reversible like paypal?
Post by: EthanB on September 30, 2015, 12:35:29 PM
----snip----

His opinion has already been posted,"too stupid", he proclaimed.
Opinion on the question not about the question, even a definitive answer like I quit will do if he wants. If any opinion on a question was to be done on bitcointalk, we could be looking at pretty off-topic things like "Oh when I was looking at my posts, a butterfly came and sat on my hand" on a question about "Is forum's My posts viewable for you?".

I'm sorry, but I don't agree that those are the same things. He's scrutinizing the question because the hypothetical doesn't make sense; Nothing said was off-topic.
Very well then I have posted my argument for his opinion and as I see he hasn't made a comeback with another one I guess I am right then.
Anyway, I have repeated in the OP that I do not want the "thats impossible" type of statements.

A ) Having the last word does not make you correct.
B ) Stupid and impossible are two completely different things. Paypal is stupid, Reversible-Bitcoin Transactions are stupid (In-Theory) not impossible (obviously).


Title: Re: What would you do if it became reversible like paypal?
Post by: ATguy on September 30, 2015, 04:02:33 PM

I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post


Just a suggestion you enable voting next time when all your interested in is:
A) continue using Bitcoin
B) quitting Bitcoin

and any other reaction make you bit anger. BTW you even did not told who will have right to reverse transactions, as there are many options for this


Title: Re: What would you do if it became reversible like paypal?
Post by: mexxer-2 on September 30, 2015, 04:05:52 PM

I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post


Just a suggestion you enable voting next time when all your interested in is:
A) continue using Bitcoin
B) quitting Bitcoin

and any other reaction make you bit anger. BTW you even did not told who will have right to reverse transactions, as there are many options for this
Satoshi- a company, manages the disputes. Nah not having a poll is better for me.


Title: Re: What would you do if it became reversible like paypal?
Post by: paradoxals on September 30, 2015, 04:08:08 PM
I'd rather not use Bitcoin then. There would inevitably be another currency that wouldn't be reversible.


Title: Re: What would you do if it became reversible like paypal?
Post by: knowhow on September 30, 2015, 07:31:57 PM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

Yes, I'd quit.  In such a scenario, I'd fully expect an altcoin to eventually take Bitcoin's place and I'd start using an assortment of the most likely candidates.


Well i see your vision and agree till some place others altcoins are compared to bitcoin,soo if bitcoin die i guess most altcoins will follow and disappear in the same time,sure some of them may stand up but the king dead what soldiers will do ?


Title: Re: What would you do if it became reversible like paypal?
Post by: erikalui on September 30, 2015, 07:45:03 PM
I would not be bothered as how I use PayPal, the same way I would use bitcoins but I would be accepting bitcoins only from known members or members whom I trust. It would reduce the number of bitcoin transactions I normally have but I would keep using bitcoins till it's price is above $200.


Title: Re: What would you do if it became reversible like paypal?
Post by: teukon on September 30, 2015, 08:44:02 PM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

Yes, I'd quit.  In such a scenario, I'd fully expect an altcoin to eventually take Bitcoin's place and I'd start using an assortment of the most likely candidates.


Well i see your vision and agree till some place others altcoins are compared to bitcoin,soo if bitcoin die i guess most altcoins will follow and disappear in the same time,sure some of them may stand up but the king dead what soldiers will do ?

Good point.  Whether I go to altcoins or precious metals depends on precisely how Bitcoin dies (a centralised Bitcoin is a dead Bitcoin).  Putting the "how" out of my mind, I currently believe cryptocurrency is an idea worth trying which is why I chose altcoins.

However, when I think about how Bitcoin could come to die in this way, I struggle to imagine a scenario in which the notion of cryptocurrency itself is not fully undermined.


Title: Re: What would you do if it became reversible like paypal?
Post by: Omikifuse on September 30, 2015, 08:55:44 PM
I would not use.

Why use a new experimental thing for the same purpose and same features, when there is already an old and estabilished stuff?


Title: Re: What would you do if it became reversible like paypal?
Post by: knowhow on September 30, 2015, 11:53:39 PM
Not estabilished yet looks like stable ,last month it were ¨stable ¨ at 300 dollars and dropped soo there isnt a stable moment and value at bitcoin ,there is a looks like stable,from one moment to other it can jump and dump,on the last dump i guess the problem were the xt version they tryed to make us support.And yescentralizing ,will kill bitcoin ,there is nothing that anyone can do even the CREATOR  to recover such thing.


Title: Re: What would you do if it became reversible like paypal?
Post by: tss on October 01, 2015, 03:33:54 AM
if any major changes are made including central authority, non fungeability, whitelists, free spam transactions or increase in coin cap i would dump it for the next project that promised to hold on to its promises for the long run.  this is just an experiment after all right guys?


Title: Re: What would you do if it became reversible like paypal?
Post by: knowhow on October 01, 2015, 11:21:38 PM
Well there is alreay almost 7 years from the what you call experiment,some people invested all savings into bitcoin,soo experiment would get such sponsors worldwide.Did you figured that is Nakamote asked an ico to make bitcoin would you support it without know what it were?
Well bitcoin must stand the way it is freedom payment processor sure some things need to be changed but not those reversal option.


Title: Re: What would you do if it became reversible like paypal?
Post by: lololhyip on October 02, 2015, 05:42:23 AM
Then many people will quit bitcoin.


Title: Re: What would you do if it became reversible like paypal?
Post by: Elwar on October 02, 2015, 09:15:39 AM
A centralized Bitcoin.

May as well just go back to using PayPal. What would be the difference?


Title: Re: What would you do if it became reversible like paypal?
Post by: dollarneed on October 02, 2015, 09:52:40 AM
of course no i won't be using bitcoin anymore if that happens but i think is imposible, thats the reason why people still used bitcoin, bitcoin is decentarlized i think escrow is one of solution but actually to change bitcoin to be reversible? that would never happen


Title: Re: What would you do if it became reversible like paypal?
Post by: ATguy on October 02, 2015, 03:43:42 PM
if any major changes are made including central authority, non fungeability, whitelists, free spam transactions or increase in coin cap i would dump it for the next project that promised to hold on to its promises for the long run.  this is just an experiment after all right guys?


I have to agree except free spam transactions. Are you suggesting miners are not free to choose what transactions to include? They include the transasactions with the risk of bit higher orhan rate (likelihood their block loose against other created shortly later or before) so they take the financial risk.

But back to topic, Bitcoin is meant to be trustless and not giving the power of the final decision to one company/justice/goverment or whatever, so reversibility does not fit to Bitcoin well.


Title: Re: What would you do if it became reversible like paypal?
Post by: knowhow on October 02, 2015, 08:49:01 PM
One bad thing is that the deve team is shared at opionions the xt has bringed questions and well the if it happen can be now real since we dont know what they are planning,imagine ,bitcoin being worthing 2000 dollars fixed,and someone controlling all transactions on it would it fail?I know main interest is the hiden and safe transfers ,but huge players waiting it get value,soo closing some deal will mean bitcoin at 2000dollars for 1 unit,and lets say some fee as paypal that is paid to states to operate worlwide.Maybe this way bitcoin could keep but i guess i dont wanna my details to be exposed and wait someone to transfer my balances .


Title: Re: What would you do if it became reversible like paypal?
Post by: neurotypical on October 02, 2015, 09:24:10 PM
I would sell it all before it crashes. Also I laughed at "satoshi dealing with the disputes". This makes no sense. The point of Bitcoin is that it doesn't rely on a central authority to operate. Therefore such thing would be the end of Bitcoin, just like it would be the end if nodes became centralized with XT and so on.


Title: Re: What would you do if it became reversible like paypal?
Post by: neonshium on October 03, 2015, 09:22:44 AM
I would sell it all before it crashes. Also I laughed at "satoshi dealing with the disputes". This makes no sense. The point of Bitcoin is that it doesn't rely on a central authority to operate. Therefore such thing would be the end of Bitcoin, just like it would be the end if nodes became centralized with XT and so on.

Yes, reversible is the feature for handling disputes. I guess we need not such a functionality in bitcoin as it does not require of anyone's trust. That's the strongest point of bitcoin many people believe in.


Title: Re: What would you do if it became reversible like paypal?
Post by: momore on October 04, 2015, 12:54:54 PM
I will have to quit too, I don't use paypal at all.


Title: Re: What would you do if it became reversible like paypal?
Post by: smith coins on October 04, 2015, 02:56:45 PM
There are many other things that will affect to make bitcoin reversible like paypal?
If this happens then there should be a support that will be processing these cases.
Like paypal support and then to use bitcoin would be some other verification.


Title: Re: What would you do if it became reversible like paypal?
Post by: oblivi on October 04, 2015, 03:55:18 PM
I remember Andreas Antonopoulos addressed this and proposed a solution for the lack of irreversible payments in reddit. Unfortunately I cannot find it right now. I think it's a very complicated issue. I mean sure, not being able to chargeback saves a lot of troubles for at the same time the people that legitimately need a chargeback may find themselves in a situation where they cannot get their money back when they really deserve it, so Im not sure if it's a good or a bad thing yet.


Title: Re: What would you do if it became reversible like paypal?
Post by: fantoos on October 04, 2015, 04:06:28 PM
I would quit Bitcoin the day it becomes irreversible because there will be no more freedom,decentralization and privacy which makes it different and more attractive than existing traditional methods for transactions.We need a Bitcoin as it is now.


Title: Re: What would you do if it became reversible like paypal?
Post by: x_Molotov on October 04, 2015, 04:07:11 PM
I would quit Bitcoin the day it becomes irreversible because there will be no more freedom,decentralization and privacy which makes it different and more attractive than existing traditional methods for transactions.We need a Bitcoin as it is now.

Exactly, I would quit immediately.
Fuck that.


Title: Re: What would you do if it became reversible like paypal?
Post by: Hellacopter on October 04, 2015, 04:10:28 PM
I think if Bitcoin become reversible like Paypal, many users will not use it, because we already use the reversible sources such Paypal and so on, we liked Bitcoin because simply it's different and it's not reversible and decentralized , and i hope it still like this


Title: Re: What would you do if it became reversible like paypal?
Post by: knowhow on October 04, 2015, 04:27:00 PM
This happens with banks ,when you made a transfer to someone account ,usually you cant recover those money sent wrong,happened to a friend mine because one digit sent wrong around 1500euros to wrong account and well money is lost.We must confirm always the adress to pay anyone ,deposit or anything else being at bitcoin or real world.

Those option wont happen ,decentralized coin,unlimited value,the king of crypto currencie that all others are compared and traded,but if this becomes possible all crypto world would die in the same moment as the announcement.


Title: Re: What would you do if it became reversible like paypal?
Post by: n2004al on October 04, 2015, 04:30:58 PM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post

I don't want to be hostile but why discuss something which have no chance to happen. What is the meaning of the discussion?


Title: Re: What would you do if it became reversible like paypal?
Post by: smith coins on October 04, 2015, 07:09:08 PM
I think if Bitcoin become reversible like Paypal, many users will not use it, because we already use the reversible sources such Paypal and so on, we liked Bitcoin because simply it's different and it's not reversible and decentralized , and i hope it still like this

I think that since it has been created in 2009, i don't think anyone can change it structure to reversible payments like PayPal.
There will be a lot of mess and a lot of scams because it is anonymously, and a support should process every reversible payment request so i don't think this will happen.


Title: Re: What would you do if it became reversible like paypal?
Post by: aso118 on October 05, 2015, 12:35:36 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

One person handling millions of disputes? Laws of which jurisdiction would apply?
I wouldn't be interested in using the hypothetical centralized currency you mention.


Title: Re: What would you do if it became reversible like paypal?
Post by: Soros Shorts on October 05, 2015, 02:43:52 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post

I don't want to be hostile but why discuss something which have no chance to happen. What is the meaning of the discussion?

Who knows? Maybe he is thinking about starting ReversibleCoin and doing some background research about potential user acceptance. At least, that was the way I viewed the question - not so much about forking Bitcoin per se.

Believe it or not some people hate irreversibility, likely people who mostly transact in the context of consumers/buyers.


Title: Re: What would you do if it became reversible like paypal?
Post by: Amph on October 05, 2015, 07:05:29 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post

I don't want to be hostile but why discuss something which have no chance to happen. What is the meaning of the discussion?

Who knows? Maybe he is thinking about starting ReversibleCoin and doing some background research about potential user acceptance. At least, that was the way I viewed the question - not so much about forking Bitcoin per se.

Believe it or not some people hate irreversibility, likely people who mostly transact in the context of consumers/buyers.

ti's probably a way to know how many user would like paypal here, but if he had written it directly, maybe he would have got not entirely genuine answers...


Title: Re: What would you do if it became reversible like paypal?
Post by: ginvestor on October 05, 2015, 02:03:54 PM
Maybe I will keep using it.


Title: Re: What would you do if it became reversible like paypal?
Post by: knowhow on October 06, 2015, 12:29:04 AM
Some of us would use if but the difference against paypal would be the fees the lower ,but what the point to do another paypal?Payza tried to be as paypal and fail ,makes no sense paypal control the market of disputes,the same way google control the ads income .


Title: Re: What would you do if it became reversible like paypal?
Post by: maku on October 06, 2015, 12:55:40 AM
I would do nothing really. Credit card, Paypal and other transactions and reversible as well, and what people do about it?
Many people believe bitcoin simply must change to bring it in line with other payment systems to be adopted by mainstream.



Title: Re: What would you do if it became reversible like paypal?
Post by: Bit_Happy on October 06, 2015, 12:59:29 AM
Bitcoin would have some value to me, but not nearly enough. "Reversible like Paypal" would come close to destroying BTC.


Title: Re: What would you do if it became reversible like paypal?
Post by: maku on October 06, 2015, 01:18:09 AM
Bitcoin would have some value to me, but not nearly enough. "Reversible like Paypal" would come close to destroying BTC.
It will be problematic only because Paypal is centralized and managed by one company, hence all 'reversals' are being controlled and watched.
With bitcoin there will be no one to oversee this type of actions therefore everyone could do reversal on their own. It is too much power for people to handle.


Title: Re: What would you do if it became reversible like paypal?
Post by: megatown on October 06, 2015, 01:20:19 AM
I would not use it at all.


Title: Re: What would you do if it became reversible like paypal?
Post by: Lauda on October 06, 2015, 05:53:59 AM
This questions is very simple. Either Bitcoin takes off or it dies. I'm pretty sure that the government and some other companied would love Bitcoin if it was reversible. If it was, I would never get near it again. Simple as that.


Title: Re: What would you do if it became reversible like paypal?
Post by: knowhow on October 12, 2015, 01:00:18 PM
Government rules will lead at a centralized coin that goes against mainstream of bitcoin ,the fact is this cant happend and wont happen otherwise all crypto will fail and we will need satoshi to remake something new and out of governments hands once again.


Title: Re: What would you do if it became reversible like paypal?
Post by: Kanapka on October 12, 2015, 01:04:33 PM
I would not use BTC


Title: Re: What would you do if it became reversible like paypal?
Post by: RKing on October 12, 2015, 01:43:33 PM
If you with Paypal, then it is reversable. But it is not a bad thing if you want to be protected.


Title: Re: What would you do if it became reversible like paypal?
Post by: leex1528 on October 12, 2015, 02:02:10 PM
This would completely defeat the whole purpose of Bitcoin in my opinion.  Who would want that except people trying to scam?  I personally don't use pay pal for this reason, as they cannot track "virtual" objects so it is impossible to sell them on there.


Title: Re: What would you do if it became reversible like paypal?
Post by: _Miracle on October 12, 2015, 02:44:54 PM
Hypothetically speaking: I'd be out.


Title: Re: What would you do if it became reversible like paypal?
Post by: Klestin on October 12, 2015, 04:14:06 PM
[Jeezenotthisshitagain.jpg]

Bitcoin, of course, already supports fully reversible transactions with a variety of methods and use cases.  Multisignature and pay-to-script transactions allow for the exact sort of reversibility that credit cards support today, as well as a near infinite variety of transaction types we haven't yet dreamed up.  And no, this is not limited to simple escrow. 


Title: Re: What would you do if it became reversible like paypal?
Post by: smith coins on October 12, 2015, 04:30:55 PM
I would not use BTC

I would move to another coin like doge or ltc.
At least these are not reversible and bitcoin popularity would really decrease.
If it became like paypal i will use then paypal and other alt coin.


Title: Re: What would you do if it became reversible like paypal?
Post by: Hellacopter on October 12, 2015, 07:24:27 PM
Bitcoin would have some value to me, but not nearly enough. "Reversible like Paypal" would come close to destroying BTC.

Agree, and nowdays there is a lot of altcoins, so if Bitcoin become reversible like Paypal people will move to using the other popular altcoins like Litecoins and Dogecoins..So making Bitcoin reversible is just destroying it


Title: Re: What would you do if it became reversible like paypal?
Post by: victoryboy on October 12, 2015, 08:45:27 PM
If this happens ever I would stop using Bitcoin immediately.Bitcoin is appreciated because of protection once it becomes reversible all will finish.We need Bitcoin as it is with more features are welcomed which are different than traditional ones.


Title: Re: What would you do if it became reversible like paypal?
Post by: Soros Shorts on October 12, 2015, 10:19:44 PM
Asking for reversibility is a kneejerk reaction to scams. One should explore solutions based on some combination of escrow and smart contracts.


Title: Re: What would you do if it became reversible like paypal?
Post by: RKing on October 13, 2015, 07:44:22 AM
Bitcoin is not reversible, but when you use bitcoin integrated in Paypal, then it is reversible. It is a protection for some buyers.


Title: Re: What would you do if it became reversible like paypal?
Post by: ~Bitcoin~ on October 13, 2015, 10:53:09 AM
Yes i will like i am using paypal right now because it have already gain huge adoption. If bitcoin can also become the same till that time when it will be reversible type than definately i and most of us will keep on using bitcoin.  ;D ;D only a hypothetical answer


Title: Re: What would you do if it became reversible like paypal?
Post by: smith coins on October 13, 2015, 05:44:34 PM
Bitcoin is not reversible, but when you use bitcoin integrated in Paypal, then it is reversible. It is a protection for some buyers.

Yes it is a protection for the buyer but often this can be abused.
Because there are many dishonest people and want to get refund after they receive the product.
But through bitcoin is always suggested to use escrow when you make any deal.
If bitcoin become like paypal then i will use paypal directly lol.


Title: Re: What would you do if it became reversible like paypal?
Post by: gugo on October 13, 2015, 07:05:31 PM
I will quit.


Title: Re: What would you do if it became reversible like paypal?
Post by: RKing on October 14, 2015, 09:37:50 AM
Bitcoin is not reversible, but when you use bitcoin integrated in Paypal, then it is reversible. It is a protection for some buyers.

Yes it is a protection for the buyer but often this can be abused.
Because there are many dishonest people and want to get refund after they receive the product.
But through bitcoin is always suggested to use escrow when you make any deal.
If bitcoin become like paypal then i will use paypal directly lol.

I thought Paypal act as a kind of escrow. If you buy something, the vendor did not deliver it as specified, you get your money back.


Title: Re: What would you do if it became reversible like paypal?
Post by: Laosai on October 14, 2015, 09:48:25 AM
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?

I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post

Well if that's the case then I would probably quit bitcoin cuz I really hate PayPal for that feature. So basically I will be starting to hate bitcoin then eventually quit ;D But just like what others said, it won't definitely won't happen :)


Title: Re: What would you do if it became reversible like paypal?
Post by: --Encrypted-- on October 14, 2015, 09:48:50 AM
I won't quit because my risk of my received BTC reversed are not as high as others. though I'm not 100% sure...

I thought Paypal act as a kind of escrow.

they do resembles an escrow service in some ways, albeit with very poor performance. plus paypal's actions are always biased when it comes to bitcoins.


Title: Re: What would you do if it became reversible like paypal?
Post by: TibanneCat on October 14, 2015, 02:02:32 PM
Asking for reversibility is a kneejerk reaction to scams. One should explore solutions based on some combination of escrow and smart contracts.

well said, there are several ways of protecting the consumer with escrows and there has even been interesting implementations of p2p 2 party escrow to avoid reliance on 3rd parties

bitcoin is decentralized so reversibility at a protocol level would be a disaster


Title: Re: What would you do if it became reversible like paypal?
Post by: teddy5145 on October 14, 2015, 02:06:24 PM
Making Bitcoin reversible is just eliminating the decentralized part of the Bitcoin itself
Im pretty sure satoshi wouldn't let that happen at any cost because the reason for him to make bitcoin in the first place is too make it decentralized and anonymous
So we don't need to worry about reversible payment because it ain't gonna happen at all
:)


Title: Re: What would you do if it became reversible like paypal?
Post by: brg444 on October 14, 2015, 02:07:04 PM
Reversibility means Bitcoin has become centralized. No thanks.


Title: Re: What would you do if it became reversible like paypal?
Post by: neurotypical on October 14, 2015, 04:45:41 PM
I don't think it's necessary. Just use a good escrow. And when dealing with businesses, if you do need a refund in a legitimate way because for example, you bought a TV and it happens to be broken, then the business is risking a legal case of a demand by not sending you the BTC back, or at least a new TV. Lack of refund is not a real problem.


Title: Re: What would you do if it became reversible like paypal?
Post by: 8831288 on October 14, 2015, 08:12:40 PM
No, I won't use it.     


Title: Re: What would you do if it became reversible like paypal?
Post by: RKing on October 15, 2015, 08:11:00 AM
Bitcoin should be no reversible, as it is. If you want certain protection, you can use a service such as Paypal.


Title: Re: What would you do if it became reversible like paypal?
Post by: dollarneed on October 15, 2015, 08:28:53 AM
Bitcoin should be no reversible, as it is. If you want certain protection, you can use a service such as Paypal.
If you used bitcoin and want to certain protection why not to use escrow on your transaction,you can find a lot of trusted escrow on service section, i always use escrow only for the transaction which need some protection,but using paypal that would be great idea to


Title: Re: What would you do if it became reversible like paypal?
Post by: Blue_Tiger73 on October 22, 2015, 08:34:29 PM
Yeah, I would probably quit. I am a big user of steam and if Bitcoin became reversible, many more scams would happen. I would just switch to PayPal as it is a much easier method.  ;D ;D ;D