Non-reversible Service example | Bitcointalksearch.org

Retina

member

Activity: 252

Merit: 59

Now see that The theymos discussed 2011 for this https://bitcointalksearch.org/topic/beware-of-paypal-and-other-reversible-transfer-services-14632 you check the topic it will be clear some of think.

Quote from: https://bitcointalksearch.org/topic/beware-of-paypal-and-other-reversible-transfer-services-14632

Money sent through PayPal and any other money transfer service that accepts credit cards can be easily reversed by the sender, even after several weeks. Therefore, you should only accept PayPal in trades with people you trust very highly.

This is why newbies are not likely to sell their PayPal USD for bitcoins successfully.

Some other services that are not totally safe:
- Bank transfers (ACH, etc.) except wire transfers
- Most gift cards.
- Moneypak
- AlertPay
- Paysafecards
- Dwolla
- Western Union (they reportedly will sue the recipient to recover money in some cases)

checked a lot of reply people in this topic, see and read carefully

odolvlobo

legendary

Activity: 4522

Merit: 3426

Piano lessons.

BitMaxz

legendary

Activity: 3472

Merit: 3217

Playbet.io - Crypto Casino and Sportsbook

It means that you should give a service which is not reversible because you can reverse the Bitcoin transactions.

Take a look at this list of sample of non-reversible services.

- Offering SEO service paid with bitcoin
- Unlock iCloud service
- Unlock SimLock
- Selling Giftcards
- Selling Accounts
- Depositing Bitcoin in Namecheap and use their service.

This is just my sample of non-reversible services once you deposit a bitcoin or buy their service paid with bitcoin there is no refund policy.

boyptc

hero member

Activity: 3024

Merit: 680

★Bitvest.io★ Play Plinko or Invest!

Bitcoin transaction is irreversible, you can't retrieve on your own once you have sent it.

Non reversible services, can't return, can't exchange, can't be altered.

CryptopreneurBrainboss

legendary

Activity: 2478

Merit: 4341

eXch.cx - Automatic crypto Swap Exchange.

First you need to understand the point satoshi was trying to make when he used the words Non-reversible service. All he was trying to say is, the centralized system of these 3rd party providers have made Non-reversible transaction reversible without your knowledge. For example when a transaction is carried out successful between two users, such transaction isn't meant to be reversible but with a 3rd party involved you can't guarantee that not happening.

Examples of non reversible service are contract signing, trade between two users etc with 3rd party like PayPal this service are reversible (without) the knowledge of the other party but with bitcoin they aren't.

Gewinnermorte

jr. member

Activity: 32

Merit: 28

Sidechain > Altcoin

Anyone Can Give Me An Example Of "Non-reversible Service" That Mentined On Bitcoin WP?

Quote from: Satoshi Nakamoto

"there is a broader cost in the loss of ability to make non-reversible payments for non-
reversible services."

Topic: Non-reversible Service example (Read 222 times)