While reading hacker news on my android device in bed last night, I came over the following story:
http://blog.gittip.com/post/35057426257/stolen-money-on-gittip-part-1In essence it seems credit cards are linked to certain accounts, which can be used for monthly transfers of money to other accounts, which again can be linked to bank accounts. Thus facilitating easy fraud, I think their fraud level was at 6%. And obviously with how things work down the traditional CC processing chain, it can take months before the chargebacks occurs, which is not great fun for the service provider, I would think.
I may be blissfully unaware whether a similar service exist using bitcoin, but at least from an operators point of view, using bitcoin for such a service would eliminate their CC chargeback risk.
Then, the most 'difficult' part would be to get bitcoins, but that shouldn't really be too difficult ? Probably a little bit more 'difficult' than just wipping up your CC from your pocket though.
Thoughts?
