Post
Topic
Board Announcements (Altcoins)
Re: [ANN][VRC] | VeriCoin | POS - NSDI | VeriBit | VeriSend | VeriSMS
by
Monkeys
on 27/07/2014, 04:37:59 UTC
You've heard of credit card fraud before... right?

There are ways to prevent this, as has been already mentioned above, verification is the key.
You've got to be kidding me.  Bring your 3-tier verification processes.  You're still going to get defrauded if you allow crypto purchases with credit cards - period.  If you don't understand this, then you're just being ignorant.

But please, prove me wrong... (hint: you can't, I'm just going to enjoy watching you fail if you try)

I'm talking about identity verification, not 2FA or any of that 'security' jazz. Though I believe that it is also important to have these in place.

With identity verification, the "merchant" (in this case Vericoin) would be able to win chargeback disputes by being able to provide proof that the card holder did indeed make the purchase and that the purchase was in fact genuine.

Simple.