For merchants it is really a winning preposition. With no chances of a chargeback, they know that the money is not going back. However, I wonder if it gives them undue advantage? I have dealt with unfair merchants, who even after knowing that they were wrong refused to give me back my money. I had to fight via my bank to really get back my money and even then they did not give up the fight and kept providing lame excuses and proofs of being legitimate.
Consumer protection is lost with bitcoin yes. The question is can consumer protection services be added to bitcoin payment processing without adding all the fees that credit cards/banks require?
I'm hoping there's a win/win possibility that emerges.
We've convinced the merchants to stat accepting, but now we need to convince the consumers to start spending.
