What Theymos says is largely correct. However, when a debit or credit card payment is disputed the person disputing it must give a reason. Following your dispute of the transaction the card issuer will ask the merchant for an explanation.

1. So you buy a gold ring described as 14ct paying with your card. When it arrives you find it is only 10ct , you try to resolve it but the seller wont respond, you raise the dispute, card issuer says to merchant why did you send wrong item? retailer says it's the only one in stock and who will notice the difference, Card company finds in your favour and will deduct the sale from the merchant and refund you as it is plainly the merchants fault.


2. You order a suite for a wedding and pay on your Card, it's a great suite perfect fit etc, after the wedding your a bit short of cash so you send it back saying you don't like it and it wont fit and want a refund The retailer says sorry you wore it and we wont refund. You raise a dispute-the card company asks the merchant for their side.  Merchant reply's "you wore it to the wedding and look here you are on FB looking happy".  Card company declines your refund.

In both cases the card issuer will decide ( there are appeal avenues if you think the decision is unjust)

So back to crypto: as you can see in 1. you didn't get your goods-you payed for some BTC and you didn't receive it. Raise a dispute and the person accepting the card payment will have it taken back and you would be refunded-in theory. to to the seller
In case 2 you buy some BTC then 10 minutes later change your mind, the seller says sale is final and no refunds but we will buy them back at a discount rate-we will give you 50% of what you paid, you raise a dispute with card company-they ask seller what was agreed  they say you purchased the Btc then changed your mind. OK says card company keep your money, goes back gto you and says sorry they are correct- The good news is you still have the btc

The other payment systems will have something along the lines above,
Just be careful the main danger is that a stolen Credit/debit card was used and in that case provided you accepted  it in good faith you should still be ok

Hi all.
My company is now in a position to offer merchant services to crypto exchanges, companies wishing to take credit/debit card payments that are involved in gaming, network marketing etc.
These are normally very difficult to get accepted, but we now have several acquirers that are willing to accept them.
Please email me with your needs to service@mercedemltd.co.uk or call +447734168010   

Note to moderator: if this is the wrong location please let me know and I will move it to your suggested location.

Personally and only my opinion, I think so. It has now become a trading commodity, but unlike Gold it has no intrinsic value, therefore while there will always be some transactions able to be done with Bitcoin it will become more confined to high value items and less relevant for general everyday use.

I don't really have any suggestions how it could be more acceptable as a money alternative as the price per coin is so high. Perhaps if something along the likes of a rights issue for company shares, where 1 bitcoin was replaced by say 100 New Bitcoin. this would do two things: firstly reduce the unit value to about $58 at todays price this makes it more affordable to the mainstream and secondly it still limits the total available coins.

I have no idea as to the practicality of this, but I would imagine as Bitcoin is "Decentralised" it would be very difficult.

Perhaps other posters could give me their thoughts?       

I am able to open merchant card payment facilities, including virtual terminal for online businesses.  For Example: Vape/CBD, Adult, Gaming sites, Betting sites, Network Marketing ETC. Mainly U.K. but Europe, ETC possible.

If you have, or are planning to open an online business and need to take payments and are in a high risk industry or new start up, we can probably get you a merchant account opened some of our solutions can also enable your customers to pay by BTC.

If you are having issues with payment systems, banks etc, we may be able to help.

We are offering £50 in BTC for all new customers (subject to terms and conditions) Call +44 (0) 333 301 9960 or via our Web site: https://www.mercedempaymentsystems.co.uk

I am able to open merchant card payment systems for Vape/CBD. Adult, Gaming sites ETC. Mainly U.K. but Europe possible. We have offering £50 in BTC for all customers new customers (subject to terms and conditions) Call +44 (0) 333 301 9960

How widespread is the take up of Bitcoin outside of the capital area- I am thinking Cebu, Davao etc?

Fiat, gold, goods and crypto can and have been used to finance terrorists. The banks in the past have been if not complicit then at the very least negligent in preventing funding-which is why now we have KYC & AML regulations in most countries to a greater or lesser extent. Terrorists will always find ways to fund their activities and extortion and other criminal activities are and will remain their primary source of funding.

Unfortunately people will always compare Bitcoin to other currencies-it's human nature. All the altcoins have their pro's and con's and most are aimed at specific needs and markets, so comparing is rather pointless. Bitcoin, by being by far the most widely known will always be the coin others are judged against.

Bitcoin at the moment is to volatile and transactions are to slow and expensive.  It will take time (probably years) for Bitcoin to be widely used and accepted, but I am convinced that one day it will be, and I for one can't wait to be able to use Bitcoin in much the same way as I use fiat.

There is a big difference between deleting negative posts and deleting posts that are just rehashed versions of previous posts, I don't believe that posts are deleted just because they are negative. It would be nice if we could have some originality in the original posts not more of "bitcoins dying, bitcoins a scam etc etc"
When you consider the number of posts and replies to them, the moderators do a pretty good job but naturally they may miss some that need deleting and delete some that don't.
I would like to see more discussion on how we as a community can promote Bitcoin and explain to the uninitiated that Bitcoin is here to stay and is the future.

People will simply stop mining until it is profitable again and no doubt people who have access to free or extremely cheap electric will continue to mine so it will not stop completely and as others have pointed out it is a self correcting system so the difficulty will reduce to make it attractive to mine.   

Of course you could always give the family Bitcoins for Christmas :-) i'm sure they would be delighted, I know I would be happy to get a Trezer loaded with some Bitcoin under my tree, especially when the price goes through the roof again.

O

OK this has happened before. Rolls Royce as far as I an ascertain are not taking Bitcoin. One of their dealers is prepared to take Bitcoin via Bitpay, so in effect they will be taking cash.
However it is still great news, if only I had a few more Bitcoins!   

Both will survive, perhaps not in the form we know them as now, as both will evolve. Bitcoin will need to evolve to take advantage of improvements in the public awareness and desire to move away from centralized government control, and to reduce it's volatility, transaction times and transaction costs.

Blockchain is constantly evolving and will find more and more applications in mainstream applications.  

Firstly and I speak as an amature sailer (yachts) rule number one- you always stay with the boat! that is unless it has actually completely sunk the reason is simple- it is a lot easier for the rescuers to spot a boat even partially submerged than your little head bobbing about. So stick with Bitcoin it may be having a bit of a rough time but I strongly recommend staying with it, at least until it slips gently under, (which isn't going to happen.

There are two reasons for businesses not taking up Bitcoin, firstly-volatility, the very large swings in the price make it difficult to price your product, for example; you produce an item which you sell for $1,000 now someone wants to buy with bitcoin and bitcoin is at $4,000 so you want 0.25 bitcoin for your product which you receive, next day you want to cash in your bitcoin but it has dropped to $3,000 so now you only get $750 of course the opposite can happen and you make a chunk of extra profit. But the fear of the downside is what is stopping adoption as most people are risk averse.  Secondly-high transaction costs with slow confirmation- a merchant taking debit and credit cards pay around 0.3%  to 1.99% in fees with transactions confirmed in seconds and with some providers the money is in the bank next day. Hence the slow and limited adoption of Bitcoin etc.

What you have to remember is that there are two types of people who are into Bitcoin etc: namely those who believe in the concept and will stick with it for better or worse, and those who are out for a fast buck-the speculators who exist not just in the crypto sector but within the banking and commodity trading etc.

I can not see how bitcoin can go bankrupt as there is no one controlling it.

First let me ask? "15 to 16 btc?" don't  you know how many you hold? Now if you went into it to make a quick buck and you were too greedy to sell @ nearly $20k which would have almost doubled your money, then tough luck take it as an expensive lesson If you haven't sold them just sit on them as the price will go up and then sell either at a small profit or small loss. The volatility usually surprises  novices unfortunately.

If you are buying bitcoins and not just buying options with large leverage then the article makes sense, this is pretty much what i try to do, and the lower it goes the more i buy and at the same time selling coins that were bought cheaply and are now showing a profit, and use the cash to buy more when the market drops again, sometimes you have to be patient as coins bought near the top of the market will show substancial losses if sold now.