Topic: What would you do if it became reversible like paypal? (Read 5271 times)
Yeah, I would probably quit. I am a big user of steam and if Bitcoin became reversible, many more scams would happen. I would just switch to PayPal as it is a much easier method.
Bitcoin should be no reversible, as it is. If you want certain protection, you can use a service such as Paypal.
If you used bitcoin and want to certain protection why not to use escrow on your transaction,you can find a lot of trusted escrow on service section, i always use escrow only for the transaction which need some protection,but using paypal that would be great idea to
Bitcoin should be no reversible, as it is. If you want certain protection, you can use a service such as Paypal.
No, I won't use it.
I don't think it's necessary. Just use a good escrow. And when dealing with businesses, if you do need a refund in a legitimate way because for example, you bought a TV and it happens to be broken, then the business is risking a legal case of a demand by not sending you the BTC back, or at least a new TV. Lack of refund is not a real problem.
Reversibility means Bitcoin has become centralized. No thanks.
Making Bitcoin reversible is just eliminating the decentralized part of the Bitcoin itself
Im pretty sure satoshi wouldn't let that happen at any cost because the reason for him to make bitcoin in the first place is too make it decentralized and anonymous
So we don't need to worry about reversible payment because it ain't gonna happen at all
Im pretty sure satoshi wouldn't let that happen at any cost because the reason for him to make bitcoin in the first place is too make it decentralized and anonymous
So we don't need to worry about reversible payment because it ain't gonna happen at all
Asking for reversibility is a kneejerk reaction to scams. One should explore solutions based on some combination of escrow and smart contracts.
well said, there are several ways of protecting the consumer with escrows and there has even been interesting implementations of p2p 2 party escrow to avoid reliance on 3rd parties
bitcoin is decentralized so reversibility at a protocol level would be a disaster
I won't quit because my risk of my received BTC reversed are not as high as others. though I'm not 100% sure...
they do resembles an escrow service in some ways, albeit with very poor performance. plus paypal's actions are always biased when it comes to bitcoins.
I thought Paypal act as a kind of escrow.
they do resembles an escrow service in some ways, albeit with very poor performance. plus paypal's actions are always biased when it comes to bitcoins.
Would you still use and believe in bitcoin if it became reversible, say if satoshi himself managed the disputes like paypal does?
Will you quit?
I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post
Will you quit?
I'm getting tired of the statements that it can't be done, its a hypothetical situation and I'm asking for your reaction , please bother to read the posts before you post
Well if that's the case then I would probably quit bitcoin cuz I really hate PayPal for that feature. So basically I will be starting to hate bitcoin then eventually quit
But just like what others said, it won't definitely won't happen Bitcoin is not reversible, but when you use bitcoin integrated in Paypal, then it is reversible. It is a protection for some buyers.
Yes it is a protection for the buyer but often this can be abused.
Because there are many dishonest people and want to get refund after they receive the product.
But through bitcoin is always suggested to use escrow when you make any deal.
If bitcoin become like paypal then i will use paypal directly lol.
I thought Paypal act as a kind of escrow. If you buy something, the vendor did not deliver it as specified, you get your money back.
I will quit.
Bitcoin is not reversible, but when you use bitcoin integrated in Paypal, then it is reversible. It is a protection for some buyers.
Yes it is a protection for the buyer but often this can be abused.
Because there are many dishonest people and want to get refund after they receive the product.
But through bitcoin is always suggested to use escrow when you make any deal.
If bitcoin become like paypal then i will use paypal directly lol.
Yes i will like i am using paypal right now because it have already gain huge adoption. If bitcoin can also become the same till that time when it will be reversible type than definately i and most of us will keep on using bitcoin. only a hypothetical answer
only a hypothetical answer
Bitcoin is not reversible, but when you use bitcoin integrated in Paypal, then it is reversible. It is a protection for some buyers.
Asking for reversibility is a kneejerk reaction to scams. One should explore solutions based on some combination of escrow and smart contracts.
If this happens ever I would stop using Bitcoin immediately.Bitcoin is appreciated because of protection once it becomes reversible all will finish.We need Bitcoin as it is with more features are welcomed which are different than traditional ones.
Bitcoin would have some value to me, but not nearly enough. "Reversible like Paypal" would come close to destroying BTC.
Agree, and nowdays there is a lot of altcoins, so if Bitcoin become reversible like Paypal people will move to using the other popular altcoins like Litecoins and Dogecoins..So making Bitcoin reversible is just destroying it
I would not use BTC
I would move to another coin like doge or ltc.
At least these are not reversible and bitcoin popularity would really decrease.
If it became like paypal i will use then paypal and other alt coin.
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Bitcoin, of course, already supports fully reversible transactions with a variety of methods and use cases. Multisignature and pay-to-script transactions allow for the exact sort of reversibility that credit cards support today, as well as a near infinite variety of transaction types we haven't yet dreamed up. And no, this is not limited to simple escrow.
Bitcoin, of course, already supports fully reversible transactions with a variety of methods and use cases. Multisignature and pay-to-script transactions allow for the exact sort of reversibility that credit cards support today, as well as a near infinite variety of transaction types we haven't yet dreamed up. And no, this is not limited to simple escrow.
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