[lambda]

You realize that Bitcoin isn't immune to fraud, it just puts the fraud burden on the consumer rather than the merchant, right?

There have already been plenty of Bitcoin frauds; pyramid schemes, merchants disappearing, computers hacked and Bitcoins stolen, entire exchanges disappearing, etc.

[Sambdala]

Sure; there's a reason I specified chargebacks and identity theft.

These are two areas that are largely solved with a push payment system rather than a pull payment system.

I'm looking forward to seeing how other types of fraud are addressed in the future, but it's fairly predictable we'll see further scams and fraud along the way.

[lambda]

Why do you think that Bitcoin fraud would be handled differently that fiat currency fraud; that is, by offering credit, doing chargebacks, and so on, just like people do with fiat currency?

I mean, it's not like we don't have options like wire transfers for transmitting currency without the possibility of chargebacks; but as you notice, most people choose to use credit cards, which offer the buyer protection, rather than using wire transfers for purchasing goods online.

Bitcoin isn't a particularly good payment system, and I can't imagine that most people will wind up sending Bitcoins directly as payment for the vast majority of purchases. It's more of a replacement of bank transfers or wire transfers, which are used in particular specialized circumstances but not by the average consumer.