[rglover]

> The transaction layer is arguably the least interesting service the credit card and other incumbent transaction/payment networks provide.

It isn't until you can't transact over it because your government blocked it or received an international sanction that prevents you, an innocent citizen from transacting. Or, if you reside in a country where that network does not exist.

> Deciding whether to move money, and possibly whether to move it back, is where the value is created.

Incorrect. The ability, not the decision, is where the value resides. I can decide all I want that I'd like the bank to send $20K to someone overseas for me, but that likely means jumping through several hoops to do it. With Bitcoin, I can just do it.