Bitcoin Forum
May 24, 2018, 05:05:37 AM *
News: Latest stable version of Bitcoin Core: 0.16.0  [Torrent]. (New!)
   Home   Help Search Donate Login Register  
Pages: « 1 2 [3]  All
Author Topic: Towards better consumer protection in bitcoin  (Read 6484 times)
Sr. Member
Offline Offline

Activity: 406
Merit: 254

View Profile
October 13, 2017, 05:03:34 PM

"I Am Agreed With You"

Better consumer protection in bitcoin this is very necessary. But I believe, Bitcoin does have a way to implement better consumer protection, It's called multisig.

A consumer is defined as someone who acquires goods or services for direct use or ownership rather than for resale or use in production and manufacturing.

Consumer protection can also be asserted via non-government organizations and individuals as consumer activism.

It`s true, Any consumer protection has to be part of bitcoin wallets. this good steps to handle multisig keys.

"There should not be any signed int. If you've found a signed int somewhere, please tell me (within the next 25 years please) and I'll change it to unsigned int." -- Satoshi
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
Hero Member
Offline Offline

Posts: 1527138337

View Profile Personal Message (Offline)

Reply with quote  #2

Report to moderator
J. Cooper
Full Member
Offline Offline

Activity: 210
Merit: 103

Alea iacta est

View Profile
October 13, 2017, 06:34:23 PM

On the other hand, customers can choose to deal only with known merchants. I have no worries about sending bitcoin to a merchant because I only deal with reputable vendors. Bitcoin works perfectly here too.
But then how does a new merchant become reputable? The problem is the new vendors who want to be able to sell goods for Bitcoin but if no one trusts them because they are new, then they can't become reputable merchants. This mentality prevents newcomers to the market.
This is accurate, we wouldn't want a monopoly on certain business models, services or products. However if they truly are a vendor with great potential, surely their product(s) or service(s) will attract customers and allow for them to build a positive reputation for themselves. There are all sorts of other ways to attract customers like limited discounts, free items just to name a few.
Overall I don't think this problem is bitcoin-specific, this is a struggle for a lot of start-ups around the globe.
Sr. Member
Offline Offline

Activity: 258
Merit: 258

View Profile
November 11, 2017, 11:31:17 AM

Can't do it. That breaks the decentralized concept and ruins the system. Yes, there are many people that have at least one issue and lose coins within their crypto lifetime. This can only be controlled by their knowledge. Some sites provide things like escrow, but that is not within the coin code and can never be.

It doesn't break any decentralized concept.

JoinMarket - CoinJoin that people will actually use.
PGP fingerprint: 0A8B 038F 5E10 CC27 89BF CFFF EF73 4EA6 77F3 1129
Pages: « 1 2 [3]  All
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!