These services move the chargeback risk from the merchant to the microloan provider. I think this is actually a beneficial service for businesses.

At least until Bitcoin fixes it.

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It’s definitely beneficial for businesses, especially since it allows for consumers to buy more goods at any time they want. But for consumers it can be extremely dangerous. If you have to get a micro loan to buy clothing, toys, or non essential goods, you probably shouldn’t be buying them in the first place.