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by xur17 2230 days ago
The "blockchain" doesn't need to support this - the GP's point is that transactions don't need to irrevocably settle for all transaction types. If you're spending $5 to buy coffee, the chance that you are going to defraud the store is low, and there are a number of less complex ways you could accomplish this anyways (just take the item off the shelf, and leave without paying).

And I'll note that there are other ways to accept bitcoin payments without high fees or long wait times (lightning).
1 comments
dangwu 2230 days ago
I strongly disagree. I think you are overestimating the morality of the common man. If you enable anonymous purchasing of items with no proof of funds being sent, it will be abused. A lot. No storefront will sign up for this. This is very different than physical shoplifting.
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X6S1x6Okd1st 2230 days ago
I have some shocking news for you about how most sit-down restaurants sell food...
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xur17 2230 days ago
It's not anonymous if you're standing in the store paying..
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dangwu 2230 days ago
It's anonymous enough if you never reveal your identity. It would be like driving somewhere, paying cash, then later the cash is revealed to be fake. And there's no way for the storefront to test for legitimacy until an hour later.
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xur17 2230 days ago
So, like credit cards (could be stolen, chargeback risk, etc).
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dangwu 2230 days ago
1. Credit card fraud is an extremely small percentage of credit card activity. What you are proposing would likely not be.

2. Chargebacks are disputed, and as a storefront you can prove that you are not liable. Merchants can review the identifying documents of the cardholder for legitimacy and take other security steps, like using a chip-enabled card terminal, to further confirm the validity of the purchase. If they follow the process correctly, they are not liable for fraudulent purchases, the cardholder’s issuing bank is. Visa and MasterCard’s contracts generally put the burden of fraud reimbursement onto the bank.

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X6S1x6Okd1st 2230 days ago
Given your estimate of the "morality of the common man" why would credit card fraud be an extremely small percentage of credit card activity?
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