|
Title: z Post by: znort987 on March 07, 2011, 11:02:24 PM z
Title: Re: Online payments is hard Post by: asdf on March 08, 2011, 01:30:23 AM Revertible transactions and fraud management inherit in established online payment mechanisms drive up the cost of transactions, which is precisely what makes micro-transactions infeasible.
Online payment is hard... because you insist on making it hard. Use bitcoin :-) I didn't read the article, though. Title: Re: Online payments is hard Post by: Dobry Den on March 08, 2011, 03:16:21 AM Revertible transactions and fraud management inherit in established online payment mechanisms drive up the cost of transactions, which is precisely what makes micro-transactions infeasible. Nailed it. Know what's also irreversible? Giving $10 cash to someone in person. The only reason you can reverse transactions online is because establishments have risen up on top of the fundamental transaction layer as a buffer. Nothing about Bitcoin precludes it from having reversible transactions. Title: Re: Online payments is hard Post by: TiagoTiago on March 08, 2011, 03:22:49 AM Well, after giving the guy your paper note, if he in return doesn't give you the candy you could try beating the hell outta him and if successfull leave with your paper note AND his whole candybox....
Title: Re: Online payments is hard Post by: Dobry Den on March 08, 2011, 03:34:53 AM Well, after giving the guy your paper note, if he in return doesn't give you the candy you could try beating the hell outta him and if successfull leave with your paper note AND his whole candybox.... What about Bitcoins denies you from coercing someone in person for a refund? Title: Re: Online payments is hard Post by: TiagoTiago on March 08, 2011, 03:50:17 AM You don't necessarilly know who the person is
Title: Re: Online payments is hard Post by: mizerydearia on March 08, 2011, 06:38:53 AM You don't necessarilly know who the person is Before you trade with bitcoins for something, whether using bitcoins or any other currency, you should probably establish an idea of whether or not you trust the individual or merchant, whether by knowing them or their reputation or some other acceptable method that seems legitimate and verifiable. |