Topic: Bitcoin and Fraud - page 4. (Read 2993 times)
It really does come down to Trusted vendors.
What are your thoughts and ideas to prevent these scams.
Either do your own due diligence (stick with established, well rated merchants) or use a credit card when shopping somewhere "less than reputable".
Yeah well the purpose of my question is about promoting Bitcoin for merchants.
Thank you anyway for your though
Anybody else ?
your question should be what is promoting bitcoin for "customers" not merchants.
in fact bitcoin is best for merchants! because it doesn't have charge back. the worse thing that keeps happening to merchants is either charge back or credit card fraud and bitcoin eliminates all of these.
but according to your OP it is customers who will be affected by things you said. and if the merchants is trusted and has a good history trusting is not hard.
Yes, you are right, you need to choose a seller who cause trust. Or to agree that you will pay 50 percent of the prepayment, and the rest after receiving the goods
While Bitcoin is very easy for fraud due to its pseudonymity and convenience, trusted vendors who begin to accept Bitcoin will always be legitimate. If, for example, Amazon started accepting Bitcoin payments, it's not like they would scam people just because people are paying with Bitcoin. What's important is that the site verifies their owners and other details about their business.
What are your thoughts and ideas to prevent these scams.
Either do your own due diligence (stick with established, well rated merchants) or use a credit card when shopping somewhere "less than reputable".
Yeah well the purpose of my question is about promoting Bitcoin for merchants.
Thank you anyway for your though
Anybody else ?
your question should be what is promoting bitcoin for "customers" not merchants.
in fact bitcoin is best for merchants! because it doesn't have charge back. the worse thing that keeps happening to merchants is either charge back or credit card fraud and bitcoin eliminates all of these.
but according to your OP it is customers who will be affected by things you said. and if the merchants is trusted and has a good history trusting is not hard.
If we assume that we are talking about a centralized service like Amazon and you are buying from there then I see no reason why you won't get the item unless It's a scam, people will realize that after one order and stop using the service.
If we are now speaking about something like eBay where you are dealing with individuals instead of companies then the feedback and reputation system is there for a reason, and usually, service that offer this have an escrow system. I have personally never got scammed while trading using bitcoin or any other payment method for the simple reason that I don't trade with shady people, I do my homework before trading with anyone.
If we are now speaking about something like eBay where you are dealing with individuals instead of companies then the feedback and reputation system is there for a reason, and usually, service that offer this have an escrow system. I have personally never got scammed while trading using bitcoin or any other payment method for the simple reason that I don't trade with shady people, I do my homework before trading with anyone.
Unfortunately because of anonimity and it's virtual nature, lack of regulations, Bitcoin is very convenient for different kind of scam and fraud. Often, when that happens you don't have much choice to get your coins back or to report someone for fraud so before you get into any kind of business with Bitcoins you have to be very careful, do the due dilligence and check everything twice.
to ensure security in the bitcoin transactions and prevent fraud, it may be very useful to use escrow. but, it is very difficult to find it. if no escrow, try to see the feedback obtained by the site, whether it is good or not. you can see a site with comments from previous visitors.
What are your thoughts and ideas to prevent these scams.
Either do your own due diligence (stick with established, well rated merchants) or use a credit card when shopping somewhere "less than reputable".
Yeah well the purpose of my question is about promoting Bitcoin for merchants.
Thank you anyway for your though
Anybody else ?
What are your thoughts and ideas to prevent these scams.
Either do your own due diligence (stick with established, well rated merchants) or use a credit card when shopping somewhere "less than reputable".
Assuming a merchant accept Bitcoin,
You as a shopper, place an order, and that merchant did not deliver, or sent to the wrong address, or sent a fake product.
You can not reverse the payment, you can get your bitcoins back, and the only thing you can do it leave a negative feedback.
Of course, there are many other scenarios, like phishing websites, fake websites, selective scams, and so on
What are your thoughts and ideas to prevent these scams.
You as a shopper, place an order, and that merchant did not deliver, or sent to the wrong address, or sent a fake product.
You can not reverse the payment, you can get your bitcoins back, and the only thing you can do it leave a negative feedback.
Of course, there are many other scenarios, like phishing websites, fake websites, selective scams, and so on
What are your thoughts and ideas to prevent these scams.
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