Bitcoin payment

[blackarrow]

Hi!

Please correct me if I am wrong but from what I see, bitcoin allows 100% protection for the merchant but 0% protection for the customer.
So, if we would send 780bitcoins to purchase avalon IC we just need to pray that they will deliver. If they will not deliver it's just tough.

Is this correct?

[KALRONG]

Basically yes, thats why scrows are used so often

[naphto]

Hi!

Please correct me if I am wrong but from what I see, bitcoin allows 100% protection for the merchant but 0% protection for the customer.
So, if we would send 780bitcoins to purchase avalon IC we just need to pray that they will deliver. If they will not deliver it's just tough.

Is this correct?

Yes, and if you send me 10 btc I can pray for you aswell

[greyhawk]

I can insure your investment for 20 BTC.


Insurance will not cover anything. If anything happens, you're SOL. Should have read the small print.

[sh0cked]

Hi!

Please correct me if I am wrong but from what I see, bitcoin allows 100% protection for the merchant but 0% protection for the customer.
So, if we would send 780bitcoins to purchase avalon IC we just need to pray that they will deliver. If they will not deliver it's just tough.

Is this correct?

You are not able to recover the money directly. However there is always a legal system you can use to threaten or actually recover lost currency (including virtual).

[bbanana]

I can insure your investment for 20 BTC.


Insurance will not cover anything. If anything happens, you're SOL. Should have read the small print.

me too

[edd]

Hi!

Please correct me if I am wrong but from what I see, bitcoin allows 100% protection for the merchant but 0% protection for the customer.
So, if we would send 780bitcoins to purchase avalon IC we just need to pray that they will deliver. If they will not deliver it's just tough.

Is this correct?

Bitcoin doesn't "protect" anyone. All it does is remove the central authority that allows someone to decide that a transaction should be reversed. There is no single person or entity with the power to undo a confirmed transaction.

[blackarrow]

I know how it works.

However, because of the way it works, it makes it difficult for me at least to send 117000 USD to some random bitcoin address that is valid for 30 minutes in order to purchase 10000 Avalon IC.

I read on the forum that they've sold 490000IC but I can't understand how people were so gullible to send $5733000 in these conditions.