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29 Jan '13, 1pm

BitPay Announces 10,000 Bitcoin Transactions with Zero Cases of Payment Fraud

BitPay Announces 10,000 Bitcoin Transactions with Zero Cases of Payment Fraud

BitPay announces that the bitcoin transaction processor has exceeded 10,000 successful transactions with zero cases of payment fraud. For a regular financial institution this might be news, but as you’ll see, with Bitcoin fraud is somewhat difficult. Financial transactions on the Internet have always come with a risk—and a sensation that that risk is higher online than it is in the real world. In the HackANGLE section here at SiliconANGLE we’ve seen coverage for malware that targets consumers, spam that phishes out details of financial records, and many, many scams. Fraud and fake transactions are so common with credit cards that even PayPal has a comprehensive (and sometimes overbearing) policies for dealing with chargebacks and other issues that crop up. Bitcoins transactions extremely difficult to fake (if not sometimes impossible at the point of practicality.) This is ...

Full article: http://www.snid.eu/2013/01/bitpay-announces-10000-bitcoin...

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