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The problem with cards and Paypal is chargebacks. You can't get your coins back if someone cancels his currency transaction.

Most people don't abuse them, but a handful does, and that's enough to wreak havoc.



The only way this could ever work safely is if you partnered with a credit card company prepared to treat a record in the blockchain as sufficient proof to refuse a chargeback.


Or if you treated credit-card bitcoin purchases as options. On the surface it's not a good idea for someone to accept credit cards for bitcoins, but why can't I use my credit card to purchase BTC at the current rate for, say, April 15 delivery? Of course, now I have to trust the seller to follow through, but that's a tractable problem that can be solved with either reputation-based trust or escrow services.


I like this. Do you know how long one would have to wait for chargebacks to be no longer an option?


At a minimum, chargebacks can occur months later. The chances of a fraudulent chargeback would go down the longer you waited, though the changes of a legitimate "why don't I have my product yet" chargeback would likely go up.


I think it's a pretty solid way of establishing "delivery". But Credit Card company supporting BitCoins, that doesn't sound too probable, since easy availability of BTCs could be a threat to Credit Cards.


Haha!




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