[sfjailbird]

> Bitcoin does not compete with literal credit card transactions

That's, like, just your opinion. For a lot of people it competes just fine.

> Credit card transactions happen on a higher level in the financial stack. As does cash

How so? As far as settlement is concerned, a cash transaction is pretty much exactly like a bitcoin transaction (and quite unlike a credit card transaction).

[bduerst]

>That's, like, just your opinion. For a lot of people it competes just fine.

Until it doesn't. A payment network is graded on how it handles disputes, not regular transactions. Bitcoin can't do refunds or chargebacks, making it rife for fraud.

Sure, you can implement escrow, but then it's no longer competitive like GP said.