Get real. Systems get upgraded and adapted. Each merchant with a credit card payment processing system, can process credit card payments. Thats it.jetway1212 wrote: ↑Nov 23rd, 2013 8:51 pmAs a CC user do you see other options than the big 3 CC companies? The credit card is not designed for internet. It was designed in 1952. Taking CC payment over internet is just a convenience of handing over your identity and rely completely on third party. The underlining of the system is still an outdated banking system.
As a merchant, transaction fees takes a considerable amount of your profit (average of 2.5% - 3.25%of your sale) Considering how tight margin of most ecommerce retailers its generally accepted as the tax for online business. Effectively, you dont think it doesnt cost consumers do you?
Transaction fees are everywhere. I heard eventually bitcoin will charge higher transaction fees also. This is an unavoidable aspect of commerce. I'm sorry that you don't like to pay to receive services. But thats how the world works.
Give me a break about the 'privacy' advantage of bitcoin. First of all, I trust that gov agencies, if they really wanted to, can track you down. Please. We live in the 21st century here. Thats like people thinking there are no backdoors built into gmail or windows etc. The fact bitcoin leaves electronic trails means your 'anonymity' is a false illusion. The local PD may not have the tools but somebody does.
The point made was that the majority of those bitcoin users are merely pawns. They are just a bunch of users. The same as some retailer who goes and buys a computer and uses Windows OS. They dont need to know the underlying of Windows OS. THey've never looked at the source code. They don't understand the true inner workings of their OS.What made you say currency backed by central bank is "real" and others are not?. Whats the definition of currency? if i use tide detergent as currency for my business, does it mean its not "real". This is the most confused subject in people eyes. Another interesting question is what is the difference between currency and money?
As for your analogy of email and password, its completely irrelevant to bitcoin as without my private you CANT not have control of my bitcoin. The "data" you can retrieve from bits and bytes of my connection is meaningless. Further more, bitcoin is NOT anonymous as the media mislead. All the transaction can be traced and if you're not careful, your identity can be linked to transactions/wallet. Silkroad is a perfect example. Hence the Department of Homeland Security and FinCen are very much saying their current policies are still effective.
People who use bitcoin, believe the points made by those who created it. You have not verified for yourself whether those claims are true. You have no way of knowing whether the system is as robust or as advertised. So to think that there are 'limited' number of bitcoins may not be true.
Furthermore, there is a difference between a theoretical abstract and the actual implementation. Many will tell you AES 256 is flawless for encryption. And theoretically it may be. But when you impliment it in code, people can add backdoors and so the reality of the product is that it is not as secure as advertised.
Are you serious? Any currency that goes up hundreds of percentage points over a short period of time is speculative. Bitcoin is speculative.Gold and Silver are highly speculative. What is the intrinsic value of gold? i see goldbugs always use this term when they discredit bitcoin. The funny thing is they probably dont know. The actual utility of gold is only around 30%. Silicon or Aluminum is actually more useful than gold.
It has its uses. You can continue to use it. I don't care. I'm not anti bitcoin. Just stating the obvious here. I don't see myself using it. I don't see the majority of people using it. I don't see mainstream society adopting it because it is obsolete in many ways. We have existing infrastructure to do what is bitcoin offers in terms of electronic payments and that is credit systems or systems based on electronic backed credit/debit. Paypal for example. And these things already work. It has worked for a long time.