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Consumers didn't have gift cards for gas, either. Lots do now. Those gift cards have no consumer protections. When I buy items with Bitcoin, I pay and I walk aw
by natrius 13y ago
Consumers didn't have gift cards for gas, either. Lots do now. Those gift cards have no consumer protections. When I buy items with Bitcoin, I pay and I walk away, so confirmation time is a non-issue in practice.
Cash back is a fair point, but if merchants offer discounts greater than one percent, it's a moot point.
- JohnTHaller 13y agoSo, does the retail establishment keep the consumer there for 15 minutes while the transaction is verified to avoid that whole double-spend issue? Consumers know to treat gift cards like cash (they lose em, they lose everything) and that they have no protections. Credit cards and debit cards are a very different thing. And they're backed by these things called banks which are regulated and insured, as opposed to bitcoins which some people keep in unregulated exchanges that can lose nearly 7% of the entire bitcoin currency without anyone noticing.