Automattic, the company behind blogging platform WordPress.com ,has decided it will accept payment for some services through Bitcoin, the controversial open source currency. Wordpress is proudly free, but Automattic offers some paid services like custom design. Those services, code wrangler Amdy Skelton says in a blog post, aren …
Bitcoins are like cash...
"Automattic will also work around another Bit[C]oin feature, namely its dislike of issuing refunds."
The BitCoin protocol does not allow chargebacks to occur. That saves sellers from worrying about having someone buy something then claiming they never got it and having the transaction reversed. However there's nothing stopping the seller from sending the BitCoins back again.
Re: Bitcoins are like cash...
It's Bitcoin not BitCoin
Non political money
This is a situation where monetary sovereignty and government control of currency is a bad thing, and where an alternative can play a useful role. Perhaps in the future we'll see more situations like this where Bitcoin can help democracy or aid other generally desirable goals.
Look how well it worked out for Flooz?
Flooz had a central authority that was shut down by authorities.