21–30 of 86 posts
I wonder what that would do to the illegal drug industry.
Do the Visas and Mastercards of Sweden still get their cut of every transaction? What a great way for these companies to solidify their corner of the market. Here is what I want: a way to do electronic transactions anonymously and cheaper that the current options. How do you do this while combating fraud?
With that comes the downsides that you have to be technical and know what you're doing to use it, as does the person you're buying from, and bitcoins are basically as easy to steal as cash.
Earlier quoted context omitted.
MM so your the annoying person who isn't organized enough to bring cash and causes long queues at the bar or coffee shop when I am buying my morning coffee and paper at the train station. The more you use your card the more chance of getting skimmed using cash for small purchases is a way of reducing your attack surface.
The more you use your card the more chance of getting skimmed using cash for small purchases is a way of reducing your attack surface. I don't get why people care about this. Credit card fraud is the bank's problem, not mine.
I wonder what that would do to the illegal drug industry.
There was a story recently about the growing problem of theft of Tide laundry detergent, people paying drug dealers with stolen Tide detergent.
Earlier quoted context omitted.
MM so your the annoying person who isn't organized enough to bring cash and causes long queues at the bar or coffee shop when I am buying my morning coffee and paper at the train station. The more you use your card the more chance of getting skimmed using cash for small purchases is a way of reducing your attack surface.
You are welcome! :) No really, the card readers are damn quick these days so it hardly takes much longer than paying with cash but I admit that it takes slightly longer. I would argue that most people pay their morning coffee with card in Sweden. I have used my card all over the world, for small and large purchases, and have yet to get it skimmed - lucky I guess. But another aspect of increased card use is that tax f…
Do the Visas and Mastercards of Sweden still get their cut of every transaction? What a great way for these companies to solidify their corner of the market. Here is what I want: a way to do electronic transactions anonymously and cheaper that the current options. How do you do this while combating fraud?
Do the Visas and Mastercards of Sweden still get their cut of every transaction? What a great way for these companies to solidify their corner of the market. Here is what I want: a way to do electronic transactions anonymously and cheaper that the current options. How do you do this while combating fraud?
That's kind of the whole point of Bitcoin. Free to use, not tied to any government or organization, and it can be completely anonymous. With that comes the downsides that you have to be technical and know what you're doing to use it, as does the person you're buying from, and bitcoins are basically as easy to steal as cash.
Earlier quoted context omitted.
MM so your the annoying person who isn't organized enough to bring cash and causes long queues at the bar or coffee shop when I am buying my morning coffee and paper at the train station. The more you use your card the more chance of getting skimmed using cash for small purchases is a way of reducing your attack surface.
The more you use your card the more chance of getting skimmed using cash for small purchases is a way of reducing your attack surface. I don't get why people care about this. Credit card fraud is the bank's problem, not mine.
For starters it's irresponsible, secondly the cost goes back to the banks customers anyway. But also, one day the bank will say no. You didn't do what we expect of you, we will not give you anything.
This is not that uncommon and if it happens you might loose a lot (although to keep good faith and keep people using the cards the banks usually go to great lengths to cover up that fraud ever happens and they usually repay losses of their customers, but I seriously do not get why anyone would be willing to take that risk - even the hassle of having to get in touch with your bank and temporarily be out on a lot of money etc. is enough to avoid that risk).
Not to mention that I don't feel like "it's okay, the bank took care of it" is okay. The bad guys got away with it and that is never okay.
I wonder what that would do to the illegal drug industry.
Barter, or elaborate e-laundering of transactions. Where there's a market there will be a way. There was a story recently about the growing problem of theft of Tide laundry detergent, people paying drug dealers with stolen Tide detergent.