Re: permabulls not only lost the control over this section-in fact they are extinct
... Yes, the merchants I have purchased from have used a processor (BitPay in fact, is what I remember). Which is why, as I said, the transaction for me, the consumer, was instantaneous. It was an online transaction, so the moment it went through I was free to go on with my day.
If you used a payment processor, you did not buy with Bitcoin. What you did was find the most convoluted way of buying with fiat, something Rube Goldberg would be proud of.
It goes something like this:
Buy BTC with fiat, possibly pay fee.
Send BTC to the payment provider, who will
convert it to fiat & pay the merchant.
Such convenient. Wow.
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Since you went all-caps on the word "MANY," I feel I should address this first: Did you know that there are MANY companies, both large and small, that do not accept BTC?
Well, now you know.
Well, now you know.
Yes I am well aware. The number that do is increasing every day. This is just one example of it following the same trend that websites did.
Regardless of what you believe will happen in the future, we're not talking about one of the possible ways for the probability wave to collapse. We're talking now.
Now the number of merchants accepting BTC is nowhere near those accepting CC.
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...I don't believe inflation is required, however, since not all salaries go up to match inflation. In fact, mine has not kept up with inflation for at least the past 6 years.
No, not all salaries keep up with inflation, because not communism. Since yours hasn't, I suggest you get good.
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...
The security of the technology IS important - if it were possible for someone to easily steal or counterfeit bitcoins that would be a big deal - but they can't. And many experts have tried. So it's important to realize that the weak point is not the technology, but the human factor. And no more so than with other forms of digital payment.
So if you are careful with your bitcoins and treat them as securely as you would a handful of cash, then you shouldn't have a problem. You won't have to worry about someone stealing the credit card database from a large retailer and then you having to replace your card. Sure the CC company will cover the fraudulent transactions, but its still a pain in the butt. Especially if you happen to be travelling and charging stuff on your CC when it gets denied. Ever have that happen? That's certainly not convenient.
The security of the technology IS important - if it were possible for someone to easily steal or counterfeit bitcoins that would be a big deal - but they can't. And many experts have tried. So it's important to realize that the weak point is not the technology, but the human factor. And no more so than with other forms of digital payment.
So if you are careful with your bitcoins and treat them as securely as you would a handful of cash, then you shouldn't have a problem. You won't have to worry about someone stealing the credit card database from a large retailer and then you having to replace your card. Sure the CC company will cover the fraudulent transactions, but its still a pain in the butt. Especially if you happen to be travelling and charging stuff on your CC when it gets denied. Ever have that happen? That's certainly not convenient.
So someone hacking into a server to get CC #s is the fault of CC technology? Not a flaw in the overly technology or a lapse of security? OK, but the consumer nonetheless doesn't lose his money, unlike the endless list of Bitcoin "hacks" from TF to Ukyo to Mt.Gox etc., etc., etc.
If you feel the inconvenience of dealing with the CC company is no worse than having all your money disappeared, I got nothing.
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There is no recourse if someone steals your coins, just as there is no recourse if someone steals your cash.
If you keep all of your money in cash, you're doing it wrong. You probably keep all your coin in an online wallet with a freshly-registered domain & no ssl, amirite?
Get yourself a few CC and live like a twenty-first century human being
