Friends, I am mesmerized by Bitcoin, it's a great currency alternative and lots of innovation going around but to be honest everywhere I see people's are fearing a lot, they want to invest in bitcoin and yes they already invested but still fear is prevalent. Everybody fears and they are afraid mostly about the following:
1) What if someone hacks and steal my bitcoin.
2) What if government shut down bitcoin.
3) What if I buy something via bitcoin and the seller doesn't send me what I paid for.
This list goes on.... What do you guys have to say about it? Why so much fear around Bitcoin? is it time to centralize the Bitcoin so that we could shop freely so that we could have purchase protection just like visa and mastercard Chargeback policy. Decentralization is good but it truly sucks.
By using bitcoin you are basically saying that you want to be the one that is solely responsible for any losses, you are saying that i don't want anyone else making decisions for me, judging whether or not a good arrived as described or not(cough cough paypal).
Obviously this financial freedom comes at a cost, as you said if you get scammed, then there is no way to recover your bitcoins.
But rest assured - if you do just 5 minutes of research and make sure that you only deal with trustworthy people, 99% of the time you're going to be trading with ease. Plus, you're only taking into account the side of the buyer here. What about a seller? A seller selling legit goods wouldn't want to take paypal because there is just so many things that could go wrong, for example someone claiming they didnt receive the goods or it was broken when they actually broke it themselves.