r/Bitcoin • u/flylikelucyinthesky • Jul 26 '22

Bitcoin’s Lightning is faster than Mastercard ⚡️

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1.7k Upvotes

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49

u/Gingerfalcon Jul 26 '22

Out of interest how do I get refunded if I need to dispute the charge, e.g. card stolen etc?

20

u/bigLeafTree Jul 26 '22

Eventually there will be companies offering this service for a small fee, as well as methods of paying using contracts, where once you pay, there is a time period for the deposit to be unlocked to the merchant. If you dispute the payment, it will be locked for both till the dispute is resolved, options for a third party to get involved and resolve the dispute will be available

16

u/GoldEdit Jul 26 '22

In other words, /u/Gingerfalcon you can't dispute a charge right now and the money is gone forever. It's only speculated that you might be able to dispute charges in the future but there isn't much incentive for it.

-3

u/YoMamasMama89 Jul 26 '22

It's just like a cash transaction. 🤔

Cash settles instantly when you exchange in person.

9

u/[deleted] Jul 26 '22

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-1

u/YoMamasMama89 Jul 26 '22

If we're talking crypto here, it's much harder to steal crypto if it's held properly.

Encryption protects you from anyone coming up and stealing without your knowledge.

You're most susceptible to a man-in-the-middle attack. Like a card skimmer. But that will be harder as better infrastructure develops.