Timeline for answer to Could a Black Market exist in a cashless society (digital currency)? by Chronocidal
Current License: CC BY-SA 4.0
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| when toggle format | what | by | license | comment | |
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| Jul 10, 2024 at 20:36 | comment | added | Jasen | scratch-off gift cards (like itunes) are fairly reliable (unless somone has forged the scratch area) | |
| Jul 10, 2024 at 15:18 | comment | added | Nosajimiki | @Ray It's not that they can't it's that they won't. The problem is when you use that CC from your own computer or a local store to buy a gift card and you try to ask for a refund through the bank, you look like the scammer; so, they generally won't refund it. But, if a scammer in another country steals your CC and uses it to purchase gift cards, the banks will see the evidence of a suspicious purchase and will be quick to reverse it. This is why scammers need you to buy the GCs as opposed to stealing your CC info and doing it themselves. | |
| Jul 10, 2024 at 13:55 | comment | added | Ray | @Nosajimiki Also nearly impossible to reverse the transaction, which is trivial for credit cards. | |
| Jul 9, 2024 at 18:44 | comment | added | Nosajimiki | This exact reason is why so many email/telephone scams revolve around gift cards. It's a lot harder to get someone to buy you a gift card than to give you their credit card number, but it's almost impossible to prosecute a gift card scam. | |
| Jul 9, 2024 at 17:04 | comment | added | Jay McEh | This does require some trust that the card has the stated value and will continue to do so; most of the methods of insuring this either increase traceability or make the cards even closer to directly cash-equivalent. Hardly insurmountable, but a consideration nonetheless. | |
| Jul 9, 2024 at 13:09 | comment | added | AlexP | Plus one for noticing that gift cards are cash. | |
| Jul 9, 2024 at 12:10 | history | edited | Chronocidal | CC BY-SA 4.0 |
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| Jul 9, 2024 at 11:32 | history | answered | Chronocidal | CC BY-SA 4.0 |