| >Is massive credit card fraud not a problem? Not for me as a consumer. If I lose my card I'm covered if someone steals my details and makes a charge I'm covered. As a consumer I don't care about the business. As a business I can price in fraud easily. >What about remittances that cost already poor people enormous amounts of money? The expensive part of remittances isn't moving money between countries and that is the only part that bitcoin makes cheaper. The expensive part is 1) Complying with regulations(ignoring this is how most bitcoin remittance services are currently so cheap) and 2) Having people everywhere that the receiver can go and get local currency from(Bitcoin companies are currently using 3rd party services to avoid paying for this but those services aren't going to fund them forever). The other side to 2 is people saying that they can use things like local bitcoins. The issue there is with success becomes an oversupply locally of people looking to sell their bitcoins which leads to a reduced price for it which adds cost to the sender to get the receiver the same amount. >What about accepting payments without relying on credit card companies and middle men like Square and Paypal? This is general a pain in the ass which is why companies like Bitpay and Coinbase are so popular with almost every merchant using one or the other. >But really when you say 'consumers don't want it', what is that based on and have you ever used bitcoin yourself? It is so simple and easy I buy everything online with it that I can and it's a breath of fresh air. Based on the fact that it hasn't been secret now for years, has been easy for people in a few countries to buy for years and the public is still very meh about it if not aggressively opposed to it. I've used bitcoin myself quite a bit. It is easy to use to make a payment but I wouldn't say my credit cards are any more difficult. However it isn't easy in general. I have to first figure out how to securely store it, then I have to worry about having it stolen since I am at a complete loss if that happens, and I have to find a way to buy it which for me not being American is still a pretty huge pain in the ass. Once that's done and I'm made my purchase I now need to hope that the company doesn't make a mistake and lose my order or screw up in processing since I have no way easy way to make them resolve a problem. |