3 ms·

This wouldn't be a problem if you accepted Bitcoin. ;)

• rmc 15y ago
  It would cause numerous numerous other problems. It's non-trivial to convert bitcoin into a regular currency, you have to use 3rd party sites that have a terrible record with security It's not understood and accepted by most people. You can't do chargebacks.
  • mrb 15y ago
    > It's non-trivial to convert bitcoin into a regular currency, you have to use 3rd party sites that have a terrible record with security Wrong. There has only ever been one successful attack against MtGox. By contrast, attacks on banking financial websites are widespread: http://ns.umich.edu/new/releases/6652 http://ns.umich.edu/new/releases/6652 A small security-focused startup like MtGox can more easily secure their infrastructure & code, compared to the corporate developers working on humongous code bases behind most banking websites. > It's not understood and accepted by most people. Circular reasoning ("technology X won't get adopted because nobody knows X"). > You can't do chargebacks. This is actually an advantage for merchants. Credit card chargebacks eat into their already thin margins. But once they receive bitcoins no one can take them away from them.