Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[BlindMayorBitcorn]

You're kind of missing the point. You can also use a credit card at newegg, which for the vast majority of consumers would be easier and more convenient than using bitcoin.

Can't use a credit card to buy drugs, though.

False. Squareup.com turns every drug dealers iPhone into a credit card processing machine. I was just reading an article about how apps like that are allowing drug dealers, bookies, etc. take CC payments.

Allow me to rephrase: using or accepting credit cards to buy drugs would probably be a very dumb idea.

Because charge-backs

[camolist]

margin buy orders set all the way down to 175 hope to wake up and see a bunch of buys 

pft not a single bite last night...

well here goes another shot tonight...orders are still up come sell me coins bears

[DaRude]

Trolls aren't trying. People are actually trying to explain why buying drugs with CC is a bad idea  

[ChartBuddy]

Bitfinex

Bitstamp

Explanation

[RCan06]

[img]https://i.imgur.com/vylIMLA.png[img]

[img]https://i.imgur.com/p1X3c8A.png[img]

Nothing to add...

I can buy 30% less smack now than I could last week. Bloody ridiculous

Silly me, I spent some BTC at newegg.... BTC is only used to buy drugs? I must have missed the boat on this one...

Problem: theres no point in that. Bitcoin is less secure and harder to use..

I'm a long time lurker of this thread, but I feel like this overlooks the idea that hiding your identity isn't just for buying drugs.

Almost yearly it seems you hear of some corporation being hacked, and thousands of peoples identity and credit card information is then compromised. Why should these corporations have such access to all my personal info before I can buy something online?
Really all they should need is money, and an address to send something to.

I would agree that bitcoin is currently less secure and harder to use for the average person which is currently a dilemma, likely to be improved. But if one understands how to manage their own wealth (ideally PC security), and take the time to learn how Bitcoin operates, they will see there is so much more to bitcoin then simply buying drugs anonymously, but I'm sure I'm preaching to the choir

[BrewCrewFan]

[img]https://i.imgur.com/vylIMLA.png[img]

[img]https://i.imgur.com/p1X3c8A.png[img]

Nothing to add...

I can buy 30% less smack now than I could last week. Bloody ridiculous

Silly me, I spent some BTC at newegg.... BTC is only used to buy drugs? I must have missed the boat on this one...

Problem: theres no point in that. Bitcoin is less secure and harder to use..

I'm a long time lurker of this thread, but I feel like this overlooks the idea that hiding your identity isn't just for buying drugs.

Almost yearly it seems you hear of some corporation being hacked, and thousands of peoples identity and credit card information is then compromised. Why should these corporations have such access to all my personal info before I can buy something online?
Really all they should need is money, and an address to send something to.

I would agree that bitcoin is currently less secure and harder to use for the average person which is currently a dilemma, likely to be improved. But if one understands how to manage their own wealth (ideally PC security), and take the time to learn how Bitcoin operates, they will see there is so much more to bitcoin then simply buying drugs anonymously, but I'm sure I'm preaching to the choir

Yep, all one needs to do is hack some cc or bank.... over Home Depot and have not only your CC info or bank account info, but your name and addy, all that stuff.

Sure, you can repair whatever damage is done to your name... but that takes tons of time and effort chasing stuff down and pleading your case.

[samsonn25]

Most credit cards and banks cover for unauthorized losses, which BTC does not have this insurance.

[bassclef]

Most credit cards and banks cover for unauthorized losses, which BTC does not have this insurance.

But they pass this cost of fraud onto the consumer, effectively raising the price of everything you buy. BTC insurance could become a fairly large industry.

[twiifm]

Most credit cards and banks cover for unauthorized losses, which BTC does not have this insurance.

But they pass this cost of fraud onto the consumer, effectively raising the price of everything you buy. BTC insurance could become a fairly large industry.

Citation please?  People here say that a lot but I've never seen any proof that fraud is a line in COGS

[ChartBuddy]

Bitfinex

Bitstamp

Explanation

[gentlemand]

Most credit cards and banks cover for unauthorized losses, which BTC does not have this insurance.

But they pass this cost of fraud onto the consumer, effectively raising the price of everything you buy. BTC insurance could become a fairly large industry.

Citation please?  People here say that a lot but I've never seen any proof that fraud is a line in COGS

I assume the merchants are subsidising that in the fees they pay.

[DaRude]

Most credit cards and banks cover for unauthorized losses, which BTC does not have this insurance.

But they pass this cost of fraud onto the consumer, effectively raising the price of everything you buy. BTC insurance could become a fairly large industry.

Citation please?  People here say that a lot but I've never seen any proof that fraud is a line in COGS

Trolling? In US gas stations in some states list prices in cash and credit card. Credit card fraud costs millions each year, doesn't take a genius to realize that someone is paying for that, guess who that someone is 

[mymenace]

Most credit cards and banks cover for unauthorized losses, which BTC does not have this insurance.

circle.com is insured for loss of btc

[Notanon]

$250 by the end of the month, I reckon.

[samsonn25]

Most credit cards and banks cover for unauthorized losses, which BTC does not have this insurance.

But they pass this cost of fraud onto the consumer, effectively raising the price of everything you buy. BTC insurance could become a fairly large industry.

Citation please?  People here say that a lot but I've never seen any proof that fraud is a line in COGS

I assume the merchants are subsidising that in the fees they pay.

Mainly is the " interchange fee" the Visa and MC and AMex, Disc pays to the middle merchant banks to promote their cards,which includes interest 2-3% and per transaction fees.

[BlindMayorBitcorn]

$250 by the end of the month, I reckon.

Silver parity at this rate

[twiifm]

Most credit cards and banks cover for unauthorized losses, which BTC does not have this insurance.

But they pass this cost of fraud onto the consumer, effectively raising the price of everything you buy. BTC insurance could become a fairly large industry.

Citation please?  People here say that a lot but I've never seen any proof that fraud is a line in COGS

Trolling? In US gas stations in some states list prices in cash and credit card. Credit card fraud costs millions each year, doesn't take a genius to realize that someone is paying for that, guess who that someone is 

Wow Only one example without citation.  They don't do that in my state or any states from NY to VA.  By your idiotic logic, I can claim that merchants are passing all their costs to the consumer including rents and payroll insurance, etc..

[twiifm]

Most credit cards and banks cover for unauthorized losses, which BTC does not have this insurance.

But they pass this cost of fraud onto the consumer, effectively raising the price of everything you buy. BTC insurance could become a fairly large industry.

Citation please?  People here say that a lot but I've never seen any proof that fraud is a line in COGS

I assume the merchants are subsidising that in the fees they pay.

Mainly is the " interchange fee" the Visa and MC and AMex, Disc pays to the middle merchant banks to promote their cards,which includes interest 2-3% and per transaction fees.

Yes merchants pay a cc fee.  But any proof they pass this onto consumer?  I think they just eat it in their margin.  I know my business did

[samsonn25]

Most credit cards and banks cover for unauthorized losses, which BTC does not have this insurance.

But they pass this cost of fraud onto the consumer, effectively raising the price of everything you buy. BTC insurance could become a fairly large industry.

Citation please?  People here say that a lot but I've never seen any proof that fraud is a line in COGS

I assume the merchants are subsidising that in the fees they pay.

Mainly is the " interchange fee" the Visa and MC and AMex, Disc pays to the middle merchant banks to promote their cards,which includes interest 2-3% and per transaction fees.

Yes merchants pay a cc fee.  But any proof they pass this onto consumer?  I think they just eat it in their margin.  I know my business did

The intermediary bank and association pays for it.

But the "interchange" association will reimburse some of the loss to the final merchant if they used rules like i.d. verification  and physical swipe of transaction  them from the buyer, online sales are much higher risk than physical location, therefore the higher interest and swipe charges for online merchants.

[chopstick]

DEBT METEOR APPROACHING

https://www.youtube.com/watch?feature=player_embedded&v=TwZG-TFhdG0