Re:Top Bitcoin questions I’ve been asked
by celticninja on Thursday April 03, 2014 @07:59AM
(#7522205)
Some of the first world benefits are not necessarily related to the immediate use for customers. However in a situation, such as the Target breach, that released peoples credit card and personal data to thieves, if you used bitcoin you would not even have to go to any effort to see if you were affected. If you used Traget and paid by CC then you need to check if your email was one of the compromised ones, check statements for unusual purchases, deal with reclaiming that if necessary and also fixing your credit report (potentially). If you paid by bitcoin all they have is the address you paid from and your delivery address (which they have if they get your personal info anyway).
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Tough sell. You wouldn't get the rewards and consumer protections that cards offer. Those include pretty good protection from fraud like that.
Plus, Bitcoin has its own security nightmare scenarios, like customer wallets getting hacked. And unlike cards, there's no recourse for recovering your bitcoins stolen by fraud.