4 ms·

Understood that is a concern for you and some. I hope it gets there. But I'm not sure most people care. Bitcoin isn't a currency yet. Most people can call up t

Understood that is a concern for you and some. I hope it gets there. But I'm not sure most people care. Bitcoin isn't a currency yet. Most people can call up their credit card and get stuff blocked and returned instantly. Debit cards are definitely less of a service in that regard though and shouldn't be used like credit cards. But the services are valued by most people. As a currency, and as someone mentioned earlier - it's currently terrible due to it having an unstable valuation.

literallycancer 6y ago
Credit cards are debt instruments. Very easy to use of course, but having credit card UX isn't required to qualify as a currency. There were no credit cards 100 years ago. Many countries still rely exclusively on cash and debit cards.
- exclusiv 6y ago
  Agreed. My comment wasn't organized well and I can see that it linked the two statements, but I don't mean it like that. I was referring to credit cards being a service that consumers value because they have fraud protection and other things. The parent was talking about arbitrary restrictions and freezing accounts. That typically happens when you have fraud on cash accounts (bank account, debit card, etc). And a credit card layer works extremely well. I just had someone accidentally send me money on Venmo and I returned it to them right away. Cash or cash equivalent digital services are nice, but it limits "purchasing power" (great for consumers IMO, bad for merchants), has no rewards, and little to zero fraud protections. Countries that use chip and pin on debit cards are definitely more secure. This should be in place in all countries. Fraud on a debit card is a nightmare. Fraud on a credit card is not usually a big deal for consumers. Regardless of the various financial instruments, bitcoin cannot be a real currency when it's value is unstable.

literallycancer 6y ago

Credit cards are debt instruments. Very easy to use of course, but having credit card UX isn't required to qualify as a currency. There were no credit cards 100 years ago. Many countries still rely exclusively on cash and debit cards.

exclusiv 6y ago
Agreed. My comment wasn't organized well and I can see that it linked the two statements, but I don't mean it like that. I was referring to credit cards being a service that consumers value because they have fraud protection and other things. The parent was talking about arbitrary restrictions and freezing accounts. That typically happens when you have fraud on cash accounts (bank account, debit card, etc). And a credit card layer works extremely well. I just had someone accidentally send me money on Venmo and I returned it to them right away. Cash or cash equivalent digital services are nice, but it limits "purchasing power" (great for consumers IMO, bad for merchants), has no rewards, and little to zero fraud protections. Countries that use chip and pin on debit cards are definitely more secure. This should be in place in all countries. Fraud on a debit card is a nightmare. Fraud on a credit card is not usually a big deal for consumers. Regardless of the various financial instruments, bitcoin cannot be a real currency when it's value is unstable.