>The average annual loss to merchants from credit card theft is about 3%.
No. "During 2012 credit card and debit card gross fraud losses accounted for roughly 5.22₵ per $100 in total volume, up from 5.07₵ per $100 in 2011.
(Source: Nilson Report, August 2013)
"According to the Startup the average e-commerce retailer loses 3.1% to fraud every year." (
http://letstalkpayments.com/3-4-b-annual-fraud-losses-due-chargebacks-reversals-signifyd-can-help/)
"LexisNexis published a survey according to which in 2013, an average merchant lost about .68 percent of annual income to fraud. A merchant has to pay around $3.08 on each dollar to replace the losses, penalties and chargeback fees. (
http://www.forbes.com/sites/quickerbettertech/2014/09/22/why-the-home-depot-breach-is-worse-than-you-think/)
I'm going to stick with my 3% average annual loss to fraud number. Meaning $360 a year, like I said, and not $6.26.
>when I shop with bitcoin, I get discounts of 3%
No. You get a 3% discount from a limited list of retailers who accept cash through the payment processor you use.
They accept bitcoin. I don't care what they do with that bitcoin once they get it, and nor should I. Yes, the number of merchants who accept bitcoin right now is limited. So what? That number is growing, and I suspect so will the options where I can get discounts. Plus, despite that number of merchants being limited, I can buy literally everything I need with bitcoins, at that discount.
You also do not get the buyer protection you [falsely] claimed costs me 3%.
(Source: fact)
Yes. Because I don't need it. There is no risk of my bitcoins being stolen from me using them to pay a merchant, unlike if I was using a credit card. So why do I need it?
No reason to try to reason with NotLambChop. He is trolling on a quest to be ignored by every single user of bitcointalk. By quoting you remind us all why we put him on ignore many months ago.