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Author Topic: Direct sell of BTC, buyer can scam. Escrow, seller can scam. :/  (Read 1531 times)
bullox (OP)
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May 24, 2011, 12:37:27 AM
 #1

 Huh

If I sell my BTC, the person buying them can chargeback on paypal/etc
If i sell through escrow, that puts me in the position where they view me as the scammer!  ("But i swear, I sent the goods!  The mail must have lost it!")

Where's the balance for newcomers?  I've yet to transact, but am looking to soon, but it just all seems quite unsafe.

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divergenta
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May 24, 2011, 12:40:23 AM
 #2

Build a reputation slowly at #bitcoin-otc
MoonShadow
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May 24, 2011, 12:42:48 AM
 #3

It is unsafe.  The consumer (you) need to be more dilligent about the quality of vendors you do business with, as opposed to being dependent upon the chargebacks that other payment methods provide for you while charging the vendor 1.9% of the cost of the item.

"The powers of financial capitalism had another far-reaching aim, nothing less than to create a world system of financial control in private hands able to dominate the political system of each country and the economy of the world as a whole. This system was to be controlled in a feudalist fashion by the central banks of the world acting in concert, by secret agreements arrived at in frequent meetings and conferences. The apex of the systems was to be the Bank for International Settlements in Basel, Switzerland, a private bank owned and controlled by the world's central banks which were themselves private corporations. Each central bank...sought to dominate its government by its ability to control Treasury loans, to manipulate foreign exchanges, to influence the level of economic activity in the country, and to influence cooperative politicians by subsequent economic rewards in the business world."

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Basiley
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May 24, 2011, 12:35:42 PM
 #4

use deals with insurance.
buy in trust sheme.
Vladimir
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May 24, 2011, 12:39:58 PM
 #5

One day someone will launch, a company which will provide a chargeback like functionality on top of bitcoin and will put paypal our of biz. this is of course if paypal do not start playing ball first.

It's just a bit early for this kind of services to pop up.

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Basiley
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May 24, 2011, 12:59:22 PM
 #6

One day someone will launch, a company which will provide a chargeback like functionality on top of bitcoin and will put paypal our of biz. this is of course if paypal do not start playing ball first.

It's just a bit early for this kind of services to pop up.

why not ?
its buziness, after all ?
if anyone need it, someone provide it, for reasonable fee.
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May 24, 2011, 02:16:53 PM
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One day someone will launch, a company which will provide a chargeback like functionality on top of bitcoin and will put paypal our of biz. this is of course if paypal do not start playing ball first.

It's just a bit early for this kind of services to pop up.

why not ?
its buziness, after all ?
if anyone need it, someone provide it, for reasonable fee.

I'm sure someone can just say hey I'll mediate one transaction for a fee or so on, but to launch a full scale business solution that can provide for all won't happen overnight. Without even going in depth, there should be a pretty significant initial investment to manage the risks involved while running this type of business if their goal is to reach the masses.
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May 24, 2011, 03:45:28 PM
 #8

The question is, if that company starting to support chargebacks will have to set some high fee. Like those 4% credit card companies have. Then, one of big Bitcoin benefits will disappear.

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May 24, 2011, 04:25:51 PM
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The question is, if that company starting to support chargebacks will have to set some high fee. Like those 4% credit card companies have. Then, one of big Bitcoin benefits will disappear.

For that particular spindly crag on the bitcoin iceberg, yes. The rest of it floats on unaffected.

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May 24, 2011, 04:58:13 PM
 #10

the fee's should get shoved back into the nodes to support the network

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