Because the problem isn’t with the currency itself, it’s with the intermediaries necessary for large scale mercantile interactions like selling games on an independent storefront.
Just because you use crypto doesn’t mean someone who holds that crypto in trust for you can’t just not give it to you if they don’t feel like it. And as there is less regulation covering that currency, you have less recourse in getting it back from them.
I can’t speak to all the positives and negatives of crypto, but I can say it is not in any way a cure-all that you can just inject into capitalism to fix everything.
As far as I know both of them are also payment processor, not only currencies.
Why would I use a third-party to store or process my Bitcoin payment? That’s the whole point you’re not forced to use a trusted third-party to store or pay. I don’t, never did.
As a swiss citizen I can tell you that there is way enough regulation covering that currency, in fact it is regulated as foreign currency (currency of cyberspace hehe). I don’t know how it is outside but also looks heavily regulated in EU and probably is in America.
I know, I’m not that stupid :D It was for the meme cuz this is the internet.
The main issue is that regular payment processors don’t do what they are suppose to do (process payment and nothing else), they freeze account for no reasons (GrapheneOS, flipper-zero, etc…) censor payment because they don’t like an industry (closed an entire plateform (UTip) because of one adult content creator), industries that already are regulated by law. Holding users funds longer than needed, or censoring for political opinion etc.
In this regard Bitcoin is neutral : You have the money, it’s a valid transaction. You pay enough fees your transaction will be confirmed sooner. Who you are, how you get this money and why you are sending it is none of the payment processor business.
More than using Paypal, obviously. Depending on the amount, you can take them to small claims court, or get lawyers involved for larger sums. The great thing is that they cannot claim you didn’t pay, and you have proof of services rendered, or products purchased. And if you don’t trust the merchant, don’t buy from them.
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Oh boy, less accountability!
Why ?
Because the problem isn’t with the currency itself, it’s with the intermediaries necessary for large scale mercantile interactions like selling games on an independent storefront.
Just because you use crypto doesn’t mean someone who holds that crypto in trust for you can’t just not give it to you if they don’t feel like it. And as there is less regulation covering that currency, you have less recourse in getting it back from them.
I can’t speak to all the positives and negatives of crypto, but I can say it is not in any way a cure-all that you can just inject into capitalism to fix everything.
As far as I know both of them are also payment processor, not only currencies.
Why would I use a third-party to store or process my Bitcoin payment? That’s the whole point you’re not forced to use a trusted third-party to store or pay. I don’t, never did.
As a swiss citizen I can tell you that there is way enough regulation covering that currency, in fact it is regulated as foreign currency (currency of cyberspace hehe). I don’t know how it is outside but also looks heavily regulated in EU and probably is in America.
I know, I’m not that stupid :D It was for the meme cuz this is the internet.
The main issue is that regular payment processors don’t do what they are suppose to do (process payment and nothing else), they freeze account for no reasons (GrapheneOS, flipper-zero, etc…) censor payment because they don’t like an industry (closed an entire plateform (UTip) because of one adult content creator), industries that already are regulated by law. Holding users funds longer than needed, or censoring for political opinion etc.
In this regard Bitcoin is neutral : You have the money, it’s a valid transaction. You pay enough fees your transaction will be confirmed sooner. Who you are, how you get this money and why you are sending it is none of the payment processor business.
All transactions are public and verifiable. How is that less accountability?
And what recourse do you have?
The same as paypal, but you’ll have more freedom & responsibility, since You ARE the bank now
More than using Paypal, obviously. Depending on the amount, you can take them to small claims court, or get lawyers involved for larger sums. The great thing is that they cannot claim you didn’t pay, and you have proof of services rendered, or products purchased. And if you don’t trust the merchant, don’t buy from them.
LOL. You’ve done this, I presume?
Yes, in fact I use the Lightning Network almost daily.
That’s a weird name for a small claims court.
I’ve never had to take any company to court, because we have consumer protections. That covers purchases with crypto.
So why would you bring up small claims court if it’s not even necessary? Can’t keep track of your own story?