Does Bitcoin work for online shopping?

[berluscoin]

When you buy something on eBay or Amazon, you pay the seller, he ships the product and upload a tracking number.
If you haven't received the item, you can call eBay or Amazon and, basically, what happens is that if they have a tracking number that shows that the item has been delivered, then it is ok, otherwise eBay or Amazon reverses the transaction and you get your money back.
Is that possible with bitcoin? What if I buy a boat online for 2 bitcoins and I never receive it? Is bitcoin able to solve this problem?

Thanks

[hilariousandco]

It's not possible if you use bitcoin directly peer to peer but there are payment processors such as BitPay that will help protect against this.

https://bitpay.com/

Basically they're just like Paypal for bitcoin.

[Emoclaw]

Bitcoin itself cannot solve the problem because it's irreversible but services like Amazon and Ebay can hold the buyer's Bitcoins before giving them to the seller until you receive the item.
That's basically them being an escrow/middleman.
This of course will most likely inconvenience the sellers and they may choose not to accept Bitcoin for that reason as they would get their money faster with FIAT.

[SUDARMONO]

that's a very good question, if I think it's really very good if it really works honestly and does not harm the consumer, but maybe it could be your return of bitcoin in return dollar currency if bitcoin value increases price.

[bitjoin]

When you buy something on eBay or Amazon, you pay the seller, he ships the product and upload a tracking number.
If you haven't received the item, you can call eBay or Amazon and, basically, what happens is that if they have a tracking number that shows that the item has been delivered, then it is ok, otherwise eBay or Amazon reverses the transaction and you get your money back.
Is that possible with bitcoin? What if I buy a boat online for 2 bitcoins and I never receive it? Is bitcoin able to solve this problem?

Thanks

If scammers want to scam you on a platform like Ebay they have plenty of options even if the item is delivered.  But let me first tell you you cannot actually accept bitcoin as a payment option on ebay, you also cannot accept cash through the post either (thats the UK rule last time i checked anyway).  You can as a seller mark payment received for a product, this is an option ebay have and ebay wont know how you've been paid. So... lets assume you buy an item from an ebay seller, you contact them and ask to pay in bitcoin, they say OK and mark payment received after you have paid to their address. If they then dont get the item sent to you or its lost in the post/defective im assuming ebay will compensate you in fiat because it falls into the bracket of ebay buyer protection if you have had to contact ebay to step in.  A refund direct from the seller direct to buyer is a different thing, they would have to send you the bitcoin back else you get ebay to step in.  

Im assuming after going through this 1.) ebay would warn you not to pay in bitcoin again and 2.) ebay would warn seller not to accept bitcoin again.  But yeah in theory you could accept bitcoin for a trade sure. I have actually accepted cash in the post before for an online sale (in ebay's eyes its same as a bitcoin payment) and everything went smooth.

[StockBet.com]

You can shop at Overstock with Bitcoin.  They're a reputable retailer.

They're also having an ICO where they expect to raise $500 million:  https://bitcointalk.org/index.php?topic=2324406

[felipe04]

When you buy something on eBay or Amazon, you pay the seller, he ships the product and upload a tracking number.
If you haven't received the item, you can call eBay or Amazon and, basically, what happens is that if they have a tracking number that shows that the item has been delivered, then it is ok, otherwise eBay or Amazon reverses the transaction and you get your money back.
Is that possible with bitcoin? What if I buy a boat online for 2 bitcoins and I never receive it? Is bitcoin able to solve this problem?

Thanks

yes we can here in philippines we have wallet with exchanger called coins.ph and its have card you can use it in shopping but you need first to verified it,i think if we have in our country im sure in other country also try to search in your own country im sure there's a lot but you need to study it first if its legit

[Iranus]

Bitcoin is deliberately intended to be a non-reversible payment system.  In fact, satoshi clarifies their position on this in the whitepaper:

With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need.  A certain percentage of fraud is accepted as unavoidable.

Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers.

So Bitcoin itself is deliberately not intended to do this, both to decrease transaction costs by removing the cost of mediation, and to prevent the common possibility of fraud.  It's a fundamental part of a decentralised system.

However, some payment gateways and escrow systems are used (including BitPay) to help you handle this if you decide to.  The good thing is that at no point are you forced to use a reversible payment, whereas PayPal and banking systems are incapable of completely non-reversible payments.
 

[Asmonist]

When you buy something on eBay or Amazon, you pay the seller, he ships the product and upload a tracking number.
If you haven't received the item, you can call eBay or Amazon and, basically, what happens is that if they have a tracking number that shows that the item has been delivered, then it is ok, otherwise eBay or Amazon reverses the transaction and you get your money back.
Is that possible with bitcoin? What if I buy a boat online for 2 bitcoins and I never receive it? Is bitcoin able to solve this problem?

Thanks

That would be a major enhancement. I think it will come to that soon. We will be expecting a lot of changes everyday on its uses and facilities. Online shopping is so in today. Bitcoin is the most popular digital currency so definitely it will be use in online shopping payments.

[Bitcoinjheta]

When you buy something on eBay or Amazon, you pay the seller, he ships the product and upload a tracking number.
If you haven't received the item, you can call eBay or Amazon and, basically, what happens is that if they have a tracking number that shows that the item has been delivered, then it is ok, otherwise eBay or Amazon reverses the transaction and you get your money back.
Is that possible with bitcoin? What if I buy a boat online for 2 bitcoins and I never receive it? Is bitcoin able to solve this problem?

Thanks

yes we can here in philippines we have wallet with exchanger called coins.ph and its have card you can use it in shopping but you need first to verified it,i think if we have in our country im sure in other country also try to search in your own country im sure there's a lot but you need to study it first if its legit

Exactly yes in some highly developed countries bitcoin work on online shoppings. You can easily buy in a fast and easy transaction without any hassle free if you have an internet connection using a per to per system. This is the best payment that ever wanted in my country soon as the government in my country accept bitcoin.

[valentin68]

Betwwen many other things, this is why bitcoin has appeared on the market, to prevent the reversal of the transactions. I am a scientist and although I do not understand many of the technical aspects of the bitcoin network, I know suffieicnt Mathematics to read the original article of Satoshi that made the bitcoin possible.
This article is not complicated, and between other things it says that it was necessary a new currency to prevent the reversals of the transactions.

[Berk]

Betwwen many other things, this is why bitcoin has appeared on the market, to prevent the reversal of the transactions. I am a scientist and although I do not understand many of the technical aspects of the bitcoin network, I know suffieicnt Mathematics to read the original article of Satoshi that made the bitcoin possible.
This article is not complicated, and between other things it says that it was necessary a new currency to prevent the reversals of the transactions.

Exactly why I believe Bitcoin is going to be used all over in online stores because it protects the seller from chargebacks too. I think too many sites out there like ebay protect the buyer more than the seller.

[BitcoinBallerina]

Bitcoin does work for online shopping yes. Expedia accepts BTC, Overstock, and there is even this site called Purse.io that allows you to buy things on Amazon at a discounted price with BTC.

[Chanock]

When you buy something on eBay or Amazon, you pay the seller, he ships the product and upload a tracking number.
If you haven't received the item, you can call eBay or Amazon and, basically, what happens is that if they have a tracking number that shows that the item has been delivered, then it is ok, otherwise eBay or Amazon reverses the transaction and you get your money back.
Is that possible with bitcoin? What if I buy a boat online for 2 bitcoins and I never receive it? Is bitcoin able to solve this problem?

Thanks

Some online shopping are accept bitcoin as payment to the item you buy. If i'm not mistaken one article released that amazon now is accepting bitcoin and they considered bitcoin as mode of payment. But some online shopping are still not open in accepting bitcoin as mode of payment.

but to solve problem?! Bitcoin cannot address problem to undelivered item you ordered from the supplier it is your part resolve it and ensure the security of your item ordered.

[bitjoin]

Bitcoin is deliberately intended to be a non-reversible payment system.  In fact, satoshi clarifies their position on this in the whitepaper:

With the possibility of reversal, the need for trust spreads. Merchants must be wary of their customers, hassling them for more information than they would otherwise need.  A certain percentage of fraud is accepted as unavoidable.

Transactions that are computationally impractical to reverse would protect sellers from fraud, and routine escrow mechanisms could easily be implemented to protect buyers.

So Bitcoin itself is deliberately not intended to do this, both to decrease transaction costs by removing the cost of mediation, and to prevent the common possibility of fraud.  It's a fundamental part of a decentralised system.

However, some payment gateways and escrow systems are used (including BitPay) to help you handle this if you decide to.  The good thing is that at no point are you forced to use a reversible payment, whereas PayPal and banking systems are incapable of completely non-reversible payments.
 

There will need to be more work done in escrow for bitcoin to become a dominant force because even with chargeback facility of paypal and banks there are still occasionally low selling standards on ebay with some sellers. Chargebacks are the best thing to keep ebay a semi legit trading place right now.

[webtricks]

When you buy something on eBay or Amazon, you pay the seller, he ships the product and upload a tracking number.
If you haven't received the item, you can call eBay or Amazon and, basically, what happens is that if they have a tracking number that shows that the item has been delivered, then it is ok, otherwise eBay or Amazon reverses the transaction and you get your money back.
Is that possible with bitcoin? What if I buy a boat online for 2 bitcoins and I never receive it? Is bitcoin able to solve this problem?

Thanks

The only solution is credibility of the seller. If seller is credible, you can go first with Bitcoin.
There are services like Purse.io. They let you buy stuff for Bitcoin on Amazon. In this way, you can easily buy whatever you want and have no risk of being scammed as Purse is reputable company.

[dewi91]

that's possible.. during the seller accept bitcoin as a payment methode and the seller have a good reputation they can refund your bitcoin when you can't receive the item.. don't worry

[SureLockLoans]

It's not possible if you use bitcoin directly peer to peer but there are payment processors such as BitPay that will help protect against this.

https://bitpay.com/

Basically they're just like Paypal for bitcoin.

I've used bitpay several times in the past and have never had a problem you have to pay a fee to them though so paying them a fee aswell as paying the transaction fee can be a little bit of a pain other than that a real solid company so far.

[btc-facebook]

Just make sure that you've prevent any bad things that cause by bitcoin transaction.

For example : I'm ever purchase a watch from online shop that accept bitcoin. I sent first and I must wait about 1 month !
Well it's also depend whenever the seller is trustable or not

[Spain2000]

The answer is yes bitcoin is now a days used for each and every thing in life. As we know that it is very famous that’s why big shopping centers in the Asia and Europe are accepting bitcoin for shopping and because of that they reserve good amount of bitcoin. In the future the owners of these shopping centers are good traders of this currency.