Question from a new guy

[gochk]

Bitcoin was designed to use for transaction payment without the 3rd party - banks, paypal, etc.

However, I can't help to wonder what happens in this scenario:

Person A sells goods to Person B and agrees to accept bitcoin as payment. Person B sends the bitcoin to Person A. Person A never delivered the goods / services. What happens to Person B? What recourse can Person B take?

Unlike the use of Paypal / banks (3rd party), Person B can dispute the charges and the 3rd party will withheld the payments and Person B can potentially get their money back.

Any ideas?

[BitcoinPorn]

http://forum.bitcoin.org/index.php?topic=21659.0 was the answer.  I would look around that thread or some people within that thread for what will be the next solution for this problem.

I am voting for Google to step in with a million percent secure temporary anonymous wallet system.   If you don't mind me, I'll be dreaming now.

[gochk]

That sounds like the use of 3rd party anyway. Just in a different currency. Companies like Paypal can easily adopt that. And here I thought we're trying to get away from those people.

[BitcoinPorn]

That sounds like the use of 3rd party anyway. Just in a different currency. Companies like Paypal can easily adopt that. And here I thought we're trying to get away from those people.

I'm not sure if I understand.  If you do not want to use a third party, you do not have to.  That is the risk of doing business with a person you do not know.  There is no insurance.  This is both a benefit and drawback of the coin.

At the least you can choose to not use a third party, or you can use the options that are available. Even if the 'third party' was a cool program meant to somehow track trust with another person, you are still putting your trust in something else other than you and the person you wish to do a transaction with.

Bitcoin does not end stealing and people being douches, if anything though, it makes it easier to tag those people

[BCwinning]

http://forum.bitcoin.org/index.php?topic=21659.0 was the answer.  I would look around that thread or some people within that thread for what will be the next solution for this problem.

I am voting for Google to step in with a million percent secure temporary anonymous wallet system.   If you don't mind me, I'll be dreaming now.

google and anonymous never ever belong in the same sentence.

[gochk]

Sorry ...    I think you have inherited the newbie confusion from me.
I realize I don't have to rely on paypal / 3rd party for any payments. I was confused as to how btc will prevent fraud from happening without the 3rd party clearing house, etc. And as I read more, I got even more confused and thought I'm missing something.

Bitcoin does not end stealing and people being douches, if anything though, it makes it easier to tag those people

how do you tag those people?

google and anonymous never ever belong in the same sentence.

I totally agree. I'm surprise nothing has been done with the privacy issues on the Google map in US like other foreign country. And just antitrust lawsuit in US; nothing about keeping our searches, how we use internet, etc in their databases.

[BCwinning]

Sorry ...    I think you have inherited the newbie confusion from me.
I realize I don't have to rely on paypal / 3rd party for any payments. I was confused as to how btc will prevent fraud from happening without the 3rd party clearing house, etc. And as I read more, I got even more confused and thought I'm missing something.

google and anonymous never ever belong in the same sentence.

I totally agree. I'm surprise nothing has been done with the privacy issues on the Google map in US like other foreign country. And just antitrust lawsuit in US; nothing about keeping our searches, how we use internet, etc in their databases.

The USA privacy laws are quite lacking really. Anything viewable from the street is public knowledge. There is no privacy from the street/on the street.
If your windows are open and the world can look inside, you have no right to privacy. I find it quite disturbing how many people in the states just don't care about privacy or even see what the deal is about it.

[luxgladius]

There's a built-in escrow system in the works as well. See https://en.bitcoin.it/wiki/Contracts for details. It's not active in the client yet though.