Replying to Avatar FunkCoffee

Immutable payments has trade-offs.

Having dispute moderating intermediaries is probably inevitable in many ways, it is a valuable service and does deserve a financial reward.

If your uber driver drops you off in the middle of nowhere or your airbnb guest trashes your place, these disputes have to be moderated somehow.

I think at some point there will be bitcoin payment escrows to facilitate commerce and we will likely pay for that service.
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utxo the webmaster 🧑‍💻 9mo ago

Both Airbnb and Uber have incentives to make it right without a mechanism to reverse financial transactions and will increase the value of reputation/feedback/reviews . The system we have now incentivizes fraud and merchants are getting screwed badly

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FunkCoffee 9mo ago

There’s still a lot of situations where not having a mediator might make commerce, think overseas vendors etc.

Don’t get me wrong I hate rent seekers like visa/mastercard and they need to go, but their networks actually minimize trust required with unknown vendors.