> Multisignature transactions solve the "annnd it's gone" due to hacked merchants/exchanges.
Theories are great for people who can afford to lose tens of thousands of dollars. Until the actual rate goes down, recommending bitcoin to average consumers on the basis of "this is supposed to work" is stupid.
> Yes, I noticed you failed to address the 13.1 million people a year who have their lives ruined because they had their identity stolen.
No, I didn't. Here, I'll quote myself:
> CC companies essentially insure you against loss by paying out the fraud themselves and then forcing merchants to raise prices a bit to make up for it.
Almost no one is having their lives ruined. You call your credit card company's fraud department (actually, these days they often catch it first and call you). You spend 20 minutes getting your card canceled and showing them which purchases were fraudulent. You wait three days for a new credit card to show up.
Theories are great for people who can afford to lose tens of thousands of dollars. Until the actual rate goes down, recommending bitcoin to average consumers on the basis of "this is supposed to work" is stupid.
> Yes, I noticed you failed to address the 13.1 million people a year who have their lives ruined because they had their identity stolen.
No, I didn't. Here, I'll quote myself:
> CC companies essentially insure you against loss by paying out the fraud themselves and then forcing merchants to raise prices a bit to make up for it.
Almost no one is having their lives ruined. You call your credit card company's fraud department (actually, these days they often catch it first and call you). You spend 20 minutes getting your card canceled and showing them which purchases were fraudulent. You wait three days for a new credit card to show up.
Hardly life-ruining.