Author

Topic: A Locked in Bitcoin Eco-System (Read 800 times)

donator
Activity: 1218
Merit: 1079
Gerald Davis
November 08, 2013, 03:38:52 AM
#2
Who says their has to be a reason for chargebacks?  You do know there is a such thing as chargeback fraud right?  Sometimes customers are looking to ripoff the merchant?

To answer your question, no this isn't possible.  Not even sure I see the point.  So user uses a CC to buy BTC he can only spend at a specific merchant.  User then spends those BTC to buy goods.   Why not just buy goods with CC?
legendary
Activity: 1330
Merit: 1000
Bitcoin
November 08, 2013, 01:26:35 AM
#1
So yes hear me out. I don't know how this would work but if there was a way to allow certain Bitcoin Merchants both non-bitcoin and Bitcoin to have one Bitcoin address that is "locked"  and users who get  Bitcoins are "locked" in to spend to only at Merchants Bitcoin addresses and can't take it out of the "Merchant eco-system"  - why you ask?  This will finally allow people to pay in fiat via credit card or buy bitcoins with credit card - at the end of the day the merchant is getting Bitcoins either way (this is sort of like that trybtc.org site or whatever it is) . There would be no reason to chargeback as the person is spending the Bitcoins at the merchant. I don't know if I have articulated the idea well but sort me out. I know there will be a group who will say HELL NO I want to move my coins around anywhere and spend them anywhere. That is fine I understand.
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