People were duped into sending a partial or full payment to a third-party agent via a wire transfer payment service and to fax their payment receipt to the seller as proof of payment.
FORBES: Where Americans Lost Money Online
Buyers transfer their Bitcoins into an escrow account where they sit until receipt of the goods is confirmed.
ECONOMIST: Bitcoin
Because you condition the transaction on a transfer of legal rights (title and delivery), there is no constructive receipt.
FORBES: Should You Grab Pay In 2012 Or Defer 'Til 2013?
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