Reversible Payments

[Genchi]

So how exactly is a MoneyPak reversible? 

I keep reading that there is no secure way to accept payment for BC other than in person and accepting USD.

[Third Way]

They are reversible in case of fraud and scams, which is why with bitcoins, prudence is of utmost importance.

[BTC4Amazon]

You Can call MoneyPak and file a claim. Difficult to accomplish though. We accept MoneyPak's Amazon/Walmart Gift cards and Visa PRepaid Cards for BTC fi your interested.
BTC4Amazon.com

Or PM me

Thanks

[Stephen Gornick]

So how exactly is a MoneyPak reversible?  

From another thread:

1.) You buy a MoneyPak at the store.  Smile for the camera.
2.) You send the MoneyPak to me along with the receipt, date and amount.  I then use the MoneyPak code to load my debit card. It works so I send to you bitcoins.
3.) You make an attempt to load your debit card with the code that you know has already been redeemed.  It fails.  You call Green Dot and claim you couldn't redeem the code.
4.) I try to use my debit card and it has no funds.  I check online, and the funds are gone.  I call Green Dot.  They ask me to provide the receipt where I bought the MoneyPak.  Hm ... I don't live anywhere near the address.  Was I traveling?  Nope.  I have to explain I bought the code online.

Because Green Dot specifically says the card is for the purpose of loading funds into your own reloadable debit card, they side with the customer who paid at the store and then was not able to load his card.

[DeathAndTaxes]

Stephen nailed it.   The larger thing to take away is that everything in life is reversible.  Everything.  Bitcoin is reversible under certain conditions (0-confirm double spend, finney attack, sybil attack, 51% attack, etc).  Bank wires can be reversed (no you can't hold a gun to Warrent Buffets head and make him wire $40 billion to your bank account and then say "sorry bank wires are irreversible").  Even cash can be "reversed" (counterfeit bills or someone hits you with big wrench and "reverses" the money back into their pocket).

So thinking about things as reversible or not reversible as if it is black or white, true or false, is a good way to get scammed.
Think about things in terms of HOW DIFFICULT IS THIS TRANSACTION TO REVERSE (because remember EVERYTHING IS REVERSIBLE)

On a scale of 1-10 (just my opinion)
10 - Multiple confirmation Bitcoin transaction
 9 - Bank wire, 1-confirm transaction, cash deposit
 8 - cash paid MoneyPak w/ receipt, 0-confirm Bitcoin transaction, cashier's check (after 7 days)
...
 5 - ACH (and ACH based transactions like Dwolla, Popmoney)
....
 1 - PayPal, other credit cards

So if you think of the "RISK OF REVERSAL" as a scale you can compare it to the scenario (do you know the person? do you trust the person?  how much does the person have to lose?  how large is the transaction?  have you completed other transactions in the past?  are they still inside the reversable window?)

As an example, when we sold wireless refills for Bitcoin we accepted <gasp> 0-confirm transactions from repeat buyers.  Oh noes 0 confirm can be double spent. It was a calculated risk.  Repeat buyer, someone I know, a small value transaction and the risk is still lower than a CC.  On the other hand I am not going to accept a 0-confirm tx as sufficient security before handing over $20,000 in gold Bullion in person to person transaction with someone I don't know (who has his getaway car engine running).    

[ladamin]

So how exactly is a MoneyPak reversible? 

I keep reading that there is no secure way to accept payment for BC other than in person and accepting USD.

I'm pretty sure there are other irreversible ways of buying BTC besides p2p cash, such as LR. I was wondering about bank wires though. Been searching the web, almost all posts suggest they should be irreversible once funds deposited into recipient account, but also all posts I came across are pretty old, from 3+ years ago.