... Bitcoin is the single greatest development in payments since the credit card. There is nothing faster, cheaper, or more secure. ...
I'm tired of hearing the same tripe regurgitated.
-Bitcoin is tremendously slow. You aren't new to this, I'm sure you know how long six confirms take.
A CC transaction takes seconds.
So much for "fast."
-A CC transaction costs the consumer zilch. I also get to flyer miles as perks. The argument "the CC fee is already a part of the price" is valid, but opens Bitcoin to an identical one--the miners are compensated for processing transactions with block rewards, currently over 10% BTC market cap per year.
So much for "cheap."
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More secure? How much of Bitcoin's market cap was lost to theft/hacks/scams? Start with Mt.Gox.
Bitcoin user has absolutely no recourse when his coin magically vanishes--due to his stupidity or maleficence of others.
CC, on the other hand, offers real buyer protection.
So much for "secure."Unfortunately this is very true atm.
I'd love to just keep all my BTC safely online in a wallet but I can't because there's loads of scumbag hackers stealing peoples hard earned coins.
Paper wallets are annoying but it's the way we have to go.