What would you do if it became reversible like paypal?

[mexxer-2]

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

[OmegaStarScream]

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)

[ajrah]

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

[ranochigo]

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.

[bitkilo]

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. 

[NorrisK]

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.

[mexxer-2]

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?

[randy8777]

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??

[mexxer-2]

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?

[cryptworld]

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

[Amph]

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

[GamNoob]

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. 

[phishead]

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.

[tiggytomb]

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.

[neoneros]

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.

[|Bitcoin|]

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.

[mexxer-2]

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

[Stifler]

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).

[Rude Boy]

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.

[Pursuer]

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.