[vermontdevil]

Another advantage if I understand correctly is no middleman to deal with. No more banks and not beholden to their policies and procedures.

[vobios]

There is a middleman. Someone has to maintain the block chain where all the transactions are written.

[conception]

It's more that there is no required middleman. Bitcoin supports having n of x sorts of payment schemes where a third party(ies) have to agree to the transfer before it is released.

[shin_lao]

That can be both a pro and a con.