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November 29, 2012, 01:49:25 PM |
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I apologize if this is obvious or someone else mentioned this already... but I just realized that Bitcoin allows for reversible transactions!
As Bitcoin's critics sometimes mention, charge-backs can be viewed as a good thing that protect consumers. Whatever your views are on credit card companies, certainly there are use-cases when you want the customer, rather than the merchant, to have more leverage/power/comfort/trust by being able to reverse the transaction.
You can do this by being your own mediator. You send bitcoins from address A to address B with address A as a mediator (ABA). Then based on whether you are satisfied with the outcome, you confirm (or reverse) your own transaction.
Thoughts?
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