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> For a merchant a CC transaction can take up to 30 days. A customer can initiate a charge back any time between when they txed and when they pay their bill. C

> For a merchant a CC transaction can take up to 30 days. A customer can initiate a charge back any time between when they txed and when they pay their bill. Customers don't care how long a transaction takes for the merchant. Have you ever tried selling anything for bitcoin? Nearly no one will use it even when being told of all the "benefits". They don't want to wait 30+ minutes. When they see they need to give some exchange a scan of their passport and wait 3-5 days to link their bank account, and losing the ability to do a chargeback, they never think about using Bitcoin again.

icebraining 9y ago
FUD much? I never had to give anyone a scan of my passport, or link my bank account.
placeybordeaux 9y ago
I've only bought a couple things with bitcoin, never sold. The current story for bitcoin is pretty sad, largely due to slow adoption and not much of a good story for consumers. The good thing is that bitcoin doesn't have to compete directly with CC companies. There are cases that it solves that CC companies aren't interested in. There's all this concern about price volatility and tx rate, but it's been used continuously in spite of price volatility, and saying no one wants to use bitcoin because there's too many outstanding bitcoin transactions just isn't a serious argument. I care about bitcoin because it is an interesting piece of technology that enables things that weren't possible before. I'll hold bitcoin so long as they don't go to zero, none of the concerns listed about bitcoin that I have heard are serious arguments on why it might go to zero, so I'll hold.
- bubblethink 9y ago
  >The good thing is that bitcoin doesn't have to compete directly with CC companies. Current CC companies are essentially two products. One is the transaction processing side of things, and the other is the financial + insurance product which protects both parties from fraud, chargebacks etc. Crypto currencies should be able to make transaction processing effectively free. All you need is an insurance product that operates at margins lower than 2-3% (current credit cards).
acchow 9y ago
> They don't want to wait 30+ minutes. So then don't use the bare blockchain for transactions.

icebraining 9y ago

FUD much? I never had to give anyone a scan of my passport, or link my bank account.

placeybordeaux 9y ago

I've only bought a couple things with bitcoin, never sold. The current story for bitcoin is pretty sad, largely due to slow adoption and not much of a good story for consumers. The good thing is that bitcoin doesn't have to compete directly with CC companies. There are cases that it solves that CC companies aren't interested in. There's all this concern about price volatility and tx rate, but it's been used continuously in spite of price volatility, and saying no one wants to use bitcoin because there's too many outstanding bitcoin transactions just isn't a serious argument. I care about bitcoin because it is an interesting piece of technology that enables things that weren't possible before. I'll hold bitcoin so long as they don't go to zero, none of the concerns listed about bitcoin that I have heard are serious arguments on why it might go to zero, so I'll hold.

bubblethink 9y ago
>The good thing is that bitcoin doesn't have to compete directly with CC companies. Current CC companies are essentially two products. One is the transaction processing side of things, and the other is the financial + insurance product which protects both parties from fraud, chargebacks etc. Crypto currencies should be able to make transaction processing effectively free. All you need is an insurance product that operates at margins lower than 2-3% (current credit cards).

acchow 9y ago

> They don't want to wait 30+ minutes. So then don't use the bare blockchain for transactions.