Um, actually you do. The principal differences are: 1) You can choose your arbitrage provider independent of your payment channel (whereas with Visa/Mastercard

Um, actually you do. The principal differences are: 1) You can choose your arbitrage provider independent of your payment channel (whereas with Visa/Mastercard you are locked into the arbitrage facility of the payment channel) -> splitting off a feature into a modular component -> more competition among providers -> better products. 2) The arbitrage provider only holds a m-of-n key to confirm your transaction, so they don't hold your funds, so they cannot steal them (directly, obviously they could collude with the intended recipient of the funds, but that's by and by). 3) You can set arbitrary values for how many m-of-n signatures you want and for checklocktime. So you can customise the arbitrage arrangement to suit the transaction far more than any offering from V/MC. Finally, let's not forget that if you really are desperate to keep that classic chargeback commerce experience, there is nothing to stop V/MC rebuilding their system on top of BTC and offering the same package. The current "chargeback" system isn't really a "chargeback" anyway, it's more of a "failure to pay funds that your bank provider agreed to display as pending."