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Yes. But don't forget credit cards offer others services, such as charge refund and fraud protection
by ttoinou 8y ago
Yes. But don't forget credit cards offer others services, such as charge refund and fraud protection
- chrismorgan 8y agoI am only quibbling on the statement about fees, not the rest.
- oopsman88 8y agoThe point is that credit cards offer very valuable services in exchange for fees. Bitcoin offers nothing for a higher fee.
- keymone 8y agoreally? nothing? do you even know what bitcoin is? the ignorance in this thread is baffling sometimes.
- mrlala 8y agoYou can't talk about credit card fees without recognizing WHY there are fees and what advantage they have...
- Sangermaine 8y agoI've seen the more ideologically zealous bitcoin enthusiasts declare that "freeing" consumers from those are a selling point. It's difficult to have meaningful discussions with people like that, it's almost like talking with the devoutly religious.
- mortdeus 8y agoAre you talking about credit cards or debit cards? There is a big difference when making a comparison to bitcoin. The reason why bitcoin doesn't have these features is that there isn't a bank sitting between the two parties doing business. To exchange a bitcoin with somebody, you are essentially trading "in cash". When you do business with somebody directly in cash, the same kind of shortcomings are involved, especially when it's not a transaction with a vendor that has a policy that allows you to return and refund the products you bought using cash when you can provide the receipt. In fact once you lose the receipt, in most places, if they allows you to return the items you bought, they won't give you back your cash. Rather they will give you the ability to exchange what you returned for something of equal value within the store. They still get to keep the cash you gave them in that scenario. When it comes to being able to dispute charges on a debit/credit transaction, like I said before, that is only because there is a middle man bank that is holding the funds in escrow. While I am not up to date on the way things are currently regulated with regards to bitcoin, there is nothing technologically getting in the way of somebody being able to build a banking/brokerage type system around bitcoin exchange if they wanted such guarantees.
- ttoinou 8y agoBoth credit and debit? The reason why bitcoin doesn't have these features is that there isn't a bank sitting between the two parties doing business Yes I know, that's why we should make fairer comparisons..
- chrismorgan 8y agoPoint of formatting: please don’t use indentation for quotes, as it renders them much less usable everywhere. Just use the old email convention, a leading “> ”.