Ask HN: Why can't I buy bitcoins with a credit card?
1 comments
It's simple. If you buy bitcoins with a credit card, you could then issue a chargeback. So the person who sold them would have the money taken away, and you would just keep the bitcoins.
Yes, but why do no-one makes a company that will make friend with a bank and tell them : hey guys, let's do that but check the blockchain before accepting chargebacks..
Do Paypal plan to make such a service soon in the future ? Maybe by recording the merchant wallet address as well as the client’s address? This way, Paypal would be able to check for the bitcoins transactions (using said blockchain, as in http://www.blockchain.info ) and then allow or disallow the chargeback to happen.
Do you know why the credit card payments such as Visa, Mastercard, are not used by merchant to sell bitcoins ? Is that because this chargeback issue is in the way, same as Paypal ? Also, do you know if any bank, in the future, has some offering in the works regarding bitcoin payments with credit cards over the internet?