As a seller, I want to be paid with Bitcoin since the transactions are irreversible (so that I can avoid being scammed)
As a buyer, I do not want to pay with Bitcoin since the transactions are irreversible (so that I can avoid being scammed)
Any way to reach a compromise here? Thoughts?
Since the exact same problems exist with dollars and credit cards and people reach compromises for those, I would think it wouldn't be difficult at all to reach a compromise. For example:
As a buyer, I want to pay with credit cards since the transactions are reversible (so that I can avoid being scammed)
As a seller, I do not want to be paid with credit cards since the transactions are reversible (so that I can avoid being scammed)
The simplest solution, IMO, is to buy only from sellers whose reputations are sufficient to justify trusting them. The best solution that I know of is for the merchants to offer insurance (protecting the customer from the merchant's non-performance) to their customers at the merchant's expense. This is basically what happens with credit cards, except the costs there are much higher because they also have to insure against unauthorized transactions. For reputable merchants, this would cost almost nothing since they have no incentive not to perform.
