Quote from: Argwai96 on October 17, 2014, 02:47:20 AM

Quote from: RustyNomad on October 16, 2014, 07:17:25 PM

Quote from: newIndia on October 16, 2014, 07:09:25 PM

Hope this does not get sorted out ever. Bitcoin purchase against a reversible payment method is NOT a sustainable business model. They created a craze with this which is now calming down as expected.

p.s. Bitcoin is supposed to replace credit card in international transactions. Not to be traded against it.

As far as I know they processed any card transaction as a 'cash advance' meaning that you could not reverse it. Could be wrong but mine was treated as a cash advance and not a purchase.

Yes, bitcoin is supposed to replace cards and the like BUT until then there needs to be ways to convert fiat to bitcoin. If you remove the accepting of cards and or bank accounts then how do you expect people to aquire bitcoin?

You can reverse a "cash advance" transaction. The only real difference between a cash advance transaction and a purchase transaction is who bears the cost of processing the transaction (the consumer or the merchant).

If you are to convert fiat into bitcoin then using a bank account is much safer for the seller then a credit card. The seller must take the appropriate precautions including both a rigorous risk management system and delayed available of purchased bitcoin

Does it mean that for Cash Advance, Circle pays the cost of processing the transaction ? I'm not very familiar with these Credit Card rules.