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Quote from: samsonn25 on January 18, 2015, 03:32:45 AM

Most credit cards and banks cover for unauthorized losses, which BTC does not have this insurance.

But they pass this cost of fraud onto the consumer, effectively raising the price of everything you buy. BTC insurance could become a fairly large industry.

Citation please? People here say that a lot but I've never seen any proof that fraud is a line in COGS

I assume the merchants are subsidising that in the fees they pay.

Mainly is the " interchange fee" the Visa and MC and AMex, Disc pays to the middle merchant banks to promote their cards,which includes interest 2-3% and per transaction fees.

Yes merchants pay a cc fee. But any proof they pass this onto consumer? I think they just eat it in their margin. I know my business did

The intermediary bank and association pays for it.

But the "interchange" association will reimburse some of the loss to the final merchant if they used rules like i.d. verification and physical swipe of transaction them from the buyer, online sales are much higher risk than physical location, therefore the higher interest and swipe charges for online merchants.

Thank you.

I also think the claim that bitcoin is cheaper than CC is bogus. Cost per transaction is all time low and it's still around $8-9. A year ago it was almost $80 per transaction

https://blockchain.info/charts/cost-per-transaction

What does this "cost per transaction" mean? The price of 0.0001 BTC? The Btcpay or coinbase fee? I think maybe mining cost / transaction count? Then it has nothing to do with the merchants or customer.

"Cost per Transaction A chart showing miners revenue divided by the number of transactions."

Build in process to distribute decentralized currency taken as a transaction cost, i guess when someone is on the mission to disproof something facts don't matter

The only reason the cost went down is because the price went down. When price is was higher it was way more expensive than CC. Somebody has to pay for that. It's not low cost as many claim

Huh what are you talking about? Do explain why i as a consumer or a merchants care how much miners are getting?

If you pay a merchant directly with Bitcoin the transaction fee goes to miner. So who pays for that? If the merchant pays for it what incentive do they have over CC? The whole argument that merchant have incentive to choose Bitcoin over CC and pass the savings to consumer has no legs

Merchants only want to profit more for themselves. Cheesy