Performed a chargeback with my Visa Provider

[hottweelz]

I hired someone to provide a service.

They provided the service in an illegal manner which risked my company reputation... after explaining this to the broker whom of which I hired this person through, they didn't seem to care.

So I did the chargeback.  All is well now.  And my Chargeback is "legit" by all means.

Had I performed this transaction with BTC, I'd be unable to perform this chargeback and I'd be, for a lack of a better term, "screwed"

Discuss.

[MineForeman.com]

People that end a post with the line;-

Discuss.

Seem terribly arrogant to me.

[BitAddict]

You can easily use escrow

[Philj]

Escrow.

[hottweelz]

People that end a post with the line;-

Discuss.

Seem terribly arrogant to me.

I am arrogant, your point?

As for "escrow"

Thank you, that was the answer I was looking for.

[Barek]

You realize that what you describe is an insurance provided by the credit card company?

In your scenario where BTC is widely used, such an insurance could be bought separately.

Who knows, maybe credit card companies will even offer this insurance.

[srg007007]

Visa is a card payment brand not a currency.  You couldn't do your chargeback if you paid in cash either.  

It is possible that a bank could issue Visa cards tied to depository accounts holding BTC and do currency conversion from USD to BTC for your debits and credits.  Then you may enjoy chargeback rights on a visa transaction in which you effectively paid using BTC not USD.

[grux]

Chargebacks are fine and they will probably exist ABOVE the bitcoin protocol, on a different layer that is. What most people expect is BTC to become the equivalent of cash, but more convenient and safe. You can get heavily ripped off with cash and BTC sends, but receiving BTC you can never get ripped off .

[bryant.coleman]

Hmm.. If I were in your place and using BTC instead of cash, then either I'd have used the escrow or could have sent in the BTCs only after getting fully satisfied with the work.

[User_513]

Escrow

[tvbcof]

Bitcoin sucks as an 'exchange currency' for this reason among various others.  Won't be competitive in the real world where most people don't have a strong political bent.  I vastly prefer PayPal and visa for buying 99% of the real-world shit I need and will continue to do so even when mocha and trinkets become more widely available in exchange for it.

Bitcoin would be one of the most powerful 'reserve currencies' in probably human history if it were recognized and developed as such.  In this case it would be use sparingly by people who mostly know what they are doing.  This would solve the problem of spending all the dev effort in a largely unsuccessful effort to make it user-friendly and safe, and would also go a long way toward addressing the scaling issues while keeping the infrastructure widely distributed and thus less prone to centralization and the abuse which is sure to follow.

[Foxpup]

You're absolutely right; without escrow or insurance, you would be screwed. If only there was some sort of system for enforcing justice, a "justice system" if you will, that you could turn to to punish those who have screwed you. But that would just be crazy.

[cverity]

And for that chargeback ability, everything we purchase is ~3% more expensive than it should be.

I'd rather be able to make the decision for myself.  Low fees for low risk transactions, escrow for risky transactions

[RickJamesBTC]

Assume bitcoin is like handing someone cash. You only get it back if they give it back to you. You think people have been paying with cash for a long time maybe? The inherent trust has to be part of the system. Hopefully, when I want to buy something with bitcoin in the future I'll just tap the accept button on my phone as i'm leaving the store. Minimal transaction fee, as the transaction volume rises and the little fees support the mining ecosystem. It really can work.

[coin.cat]

I hired someone to provide a service.

They provided the service in an illegal manner which risked my company reputation... after explaining this to the broker whom of which I hired this person through, they didn't seem to care.

So I did the chargeback.  All is well now.  And my Chargeback is "legit" by all means.

Had I performed this transaction with BTC, I'd be unable to perform this chargeback and I'd be, for a lack of a better term, "screwed"

Discuss.

A web of trust or reputation system. People is paying with BTC in localbitcoins. It is somewhat safe because there is an escrow and a reputation system in place.

[niothor]

I can;t stop laughing at people  suggesting an escrow , (third party) for a supposed decentralized and p2p currency.

You see the Irony in it?

[marketermac]

I can;t stop laughing at people  suggesting an escrow , (third party) for a supposed decentralized and p2p currency.

You see the Irony in it?

no, I don't. I'm certain that a third party doesn't 'centralize' things, and it's certainly in the spirit of p2p. They say escrow, what they mean is trust. Find a means to pay someone that includes enough trust for you to be satisfied with the transaction. The same with ANY transaction, BTC or otherwise. Where's the irony?

[ashaw596]

Recently it has come to my attention that BTC supports 2 factor transactions as of BIP 38.
This looks like a great way to get around this problem.
http://www.bit2factor.org/

I think I remember reading something about a 3 party implementation too with the third party as arbitor, except they can't run off with the money.
Seems like we'll be fine. Best thing about bitcoin. We can always upgrade the protocol!!!

[NorbyTheGeek]

Had I performed this transaction with BTC, I'd be unable to perform this chargeback and I'd be, for a lack of a better term, "screwed"

Discuss.

Bitcoin is cash.  You can't chargeback cash.

Read.

[takagari]

Looking forward to more and more options for this.
Nothing's ever 100% safe