Old people, how did you protect purchases before widespread use of credit cards? - page 2.

deltanine

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Quote from: Magazine on August 09, 2013, 04:32:05 PM

Quote from: Hal on August 09, 2013, 04:28:54 PM

We used checks. For high value transactions, cashier's checks. I don't know how this transfers to a bitcoin environment. Oh, there wasn't as much mail order back then. Most shopping was local.

The good days, when going out shopping and being able to get everything you need. Shops were full, now where I am most shops are pretty much gone only the big chains remain. All the local small businesses have sadly gone.

i'm not that old but I remember the old mail order commercials offered COD as a payment option.

http://en.wikipedia.org/wiki/Collect_on_delivery

Magazine

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Quote from: Hal on August 09, 2013, 04:28:54 PM

We used checks. For high value transactions, cashier's checks. I don't know how this transfers to a bitcoin environment. Oh, there wasn't as much mail order back then. Most shopping was local.

The good days, when going out shopping and being able to get everything you need. Shops were full, now where I am most shops are pretty much gone only the big chains remain. All the local small businesses have sadly gone.

Hal

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We used checks. For high value transactions, cashier's checks. I don't know how this transfers to a bitcoin environment. Oh, there wasn't as much mail order back then. Most shopping was local.

alp

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Quote from: scooter on August 09, 2013, 03:49:14 PM

I have noticed a number of threads in the hardware forum where people are advising others to not buy any equipment with bitcoins. Only use paypal, credit card, etc.. so that you have recourse if the supplier does not deliver a product on time.

If miners are unwilling to purchase equipment using bitcoins, it seems to be a bad sign for the entire bitcoin ecosystem.
So I started to wonder, what did people do before debit and credit cards were widespread?
Mail order goods have been around since before credit cards. Did people simply put money in an envelope and hope for the best? Was there any sort of protection or recourse for consumers who did not get their product?

What can we learn from the old timey cash economy and apply it to a bitcoin economy?

Perhaps the real problem is just the arms race to get better equipment before everyone else and ensure you get a return.
This could result in people simply making the unwise choice of sending off bitcoins before it might be appropriate to do so.

Escrow services for large purposes will be needed for these kinds of transactions. For small transactions or places with very trustworthy businesses, you don't escrow. Very simple system, just the Bitcoin economy is not mature enough to really have anyone fill this need.

Magazine

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Quote from: scooter on August 09, 2013, 03:49:14 PM

I have noticed a number of threads in the hardware forum where people are advising others to not buy any equipment with bitcoins. Only use paypal, credit card, etc.. so that you have recourse if the supplier does not deliver a product on time.

If miners are unwilling to purchase equipment using bitcoins, it seems to be a bad sign for the entire bitcoin ecosystem.
So I started to wonder, what did people do before debit and credit cards were widespread?
Mail order goods have been around since before credit cards. Did people simply put money in an envelope and hope for the best? Was there any sort of protection or recourse for consumers who did not get their product?

What can we learn from the old timey cash economy and apply it to a bitcoin economy?

Perhaps the real problem is just the arms race to get better equipment before everyone else and ensure you get a return.
This could result in people simply making the unwise choice of sending off bitcoins before it might be appropriate to do so.

I'm not sure what to answer for the whole what people did back then in regards to fraud, but I guess there was less fraud back then due to there not being e-commerce shopping so you easily knew where your funds were being sent to because you sent them there.

I could be wrong and fraud was a big issue back then in regards to paying for items but that's just my $0.02.

scooter

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Activity: 100

Merit: 10

I have noticed a number of threads in the hardware forum where people are advising others to not buy any equipment with bitcoins. Only use paypal, credit card, etc.. so that you have recourse if the supplier does not deliver a product on time.

If miners are unwilling to purchase equipment using bitcoins, it seems to be a bad sign for the entire bitcoin ecosystem.
So I started to wonder, what did people do before debit and credit cards were widespread?
Mail order goods have been around since before credit cards. Did people simply put money in an envelope and hope for the best? Was there any sort of protection or recourse for consumers who did not get their product?

What can we learn from the old timey cash economy and apply it to a bitcoin economy?

Perhaps the real problem is just the arms race to get better equipment before everyone else and ensure you get a return.
This could result in people simply making the unwise choice of sending off bitcoins before it might be appropriate to do so.

Topic: Old people, how did you protect purchases before widespread use of credit cards? - page 2. (Read 2978 times)