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Keeping your credit card number out of their database where it can't be hacked is a practical reason to use bitcoin. It reduces your risk of merchant's getting

Keeping your credit card number out of their database where it can't be hacked is a practical reason to use bitcoin. It reduces your risk of merchant's getting hacked, which happens all the time.

miros 13y ago
Yeah but my credit card company protects me from that sort of fraud so it really isn't a practical concern.
- gnaritas 13y ago
  Only if you notice and report it, people get skimmed all the time and never notice.
  - IvyMike 13y ago
    > people get skimmed all the time and never notice. Insert Mt.Gox joke here.
  - pbreit 13y ago
    There's an app for that: https://www.billguard.com/ https://www.billguard.com/
    - gnaritas 13y ago
      Ha, why of course there is, I should have figured.
Goronmon 13y ago
So, a merchant gets hacked and your credit card info is stolen. You notice fraudulent charges, call your credit card company and they reverse the charges and send you a new card. If someone gets access to your bitcoin wallet or whatever storage mechanism you are using fails, then that money is gone forever with no way to recover it. If you are a regular user with no need to make a political statement with the use of a non-traditional currency, what exactly about the second scenario sounds safer?
- gnaritas 13y ago
  Only if you notice and report are you protected, many don't. You're arguing against cash, cash doesn't need defending.
- atom-morgan 13y ago
  > If someone gets access to your bitcoin wallet or whatever storage mechanism you are using fails, then that money is gone forever with no way to recover it. Keep in mind that you're comparing two different markets in terms of maturity. One day, there may be a number I can call too when my bitcoin goes missing. I'm sure people made similar arguments before e-commerce. Surely it had to seem easier to just buy a product in a physical store, with cash, with absolutely no risk of stolen credit card information on this new thing known as Internet. No issues with shipping and you can actually see the product in store. Things have changed and people are no longer as reluctant to shop online. As interest in new areas grow, so do opportunities for business. You may not be an early adopter of Bitcoin in the way many weren't with e-commerce in the early days, but it doesn't mean it can't happen because one is easier today.
  - IvyMike 13y ago
    > One day, there may be a number I can call to when my bitcoin goes missing. Genuinely curious--how would this work?
    - atom-morgan 13y ago
      I'm not 100% sure. I'm sure some people are working on this problem right now.
    - wmf 13y ago
      It would probably be insurance, so you'd have to pay for it and they could deny your claim if you didn't use a Trezor. There may also be bounty hunters who try to recover stolen BTC on contingency, but that doesn't sound like a good business.
    - pbreit 13y ago

Keeping your credit card number out of their database where it can't be hacked is a practical reason to use bitcoin. It reduces your risk of merchant's getting hacked, which happens all the time.

miros 13y ago

Yeah but my credit card company protects me from that sort of fraud so it really isn't a practical concern.

gnaritas 13y ago
Only if you notice and report it, people get skimmed all the time and never notice.
- IvyMike 13y ago
  > people get skimmed all the time and never notice. Insert Mt.Gox joke here.
- pbreit 13y ago
  There's an app for that: https://www.billguard.com/ https://www.billguard.com/
  - gnaritas 13y ago
    Ha, why of course there is, I should have figured.

Goronmon 13y ago

So, a merchant gets hacked and your credit card info is stolen. You notice fraudulent charges, call your credit card company and they reverse the charges and send you a new card. If someone gets access to your bitcoin wallet or whatever storage mechanism you are using fails, then that money is gone forever with no way to recover it. If you are a regular user with no need to make a political statement with the use of a non-traditional currency, what exactly about the second scenario sounds safer?

gnaritas 13y ago
Only if you notice and report are you protected, many don't. You're arguing against cash, cash doesn't need defending.
atom-morgan 13y ago
> If someone gets access to your bitcoin wallet or whatever storage mechanism you are using fails, then that money is gone forever with no way to recover it. Keep in mind that you're comparing two different markets in terms of maturity. One day, there may be a number I can call too when my bitcoin goes missing. I'm sure people made similar arguments before e-commerce. Surely it had to seem easier to just buy a product in a physical store, with cash, with absolutely no risk of stolen credit card information on this new thing known as Internet. No issues with shipping and you can actually see the product in store. Things have changed and people are no longer as reluctant to shop online. As interest in new areas grow, so do opportunities for business. You may not be an early adopter of Bitcoin in the way many weren't with e-commerce in the early days, but it doesn't mean it can't happen because one is easier today.
- IvyMike 13y ago
  > One day, there may be a number I can call to when my bitcoin goes missing. Genuinely curious--how would this work?
  - atom-morgan 13y ago
    I'm not 100% sure. I'm sure some people are working on this problem right now.
  - wmf 13y ago
    It would probably be insurance, so you'd have to pay for it and they could deny your claim if you didn't use a Trezor. There may also be bounty hunters who try to recover stolen BTC on contingency, but that doesn't sound like a good business.
  - pbreit 13y ago