Ninjastic
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Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
samsonn25
on 18/01/2015, 04:13:09 UTC
Quote from: gentlemand on January 18, 2015, 04:00:24 AM
Quote from: twiifm on January 18, 2015, 03:54:44 AM
Quote from: bassclef on January 18, 2015, 03:34:58 AM
Quote from: samsonn25 on January 18, 2015, 03:32:45 AM
Most credit cards and banks cover for unauthorized losses, which BTC does not have this insurance.

But they pass this cost of fraud onto the consumer, effectively raising the price of everything you buy. BTC insurance could become a fairly large industry.

Citation please?  People here say that a lot but I've never seen any proof that fraud is a line in COGS

I assume the merchants are subsidising that in the fees they pay.

Mainly is the " interchange fee" the Visa and MC and AMex, Disc pays to the middle merchant banks to promote their cards,which includes interest 2-3% and per transaction fees.