> There is no reason why the payment processor can't implement some security in case of errors. Sure, and banks already do that. A lot of it, in fact. My poin

> There is no reason why the payment processor can't implement some security in case of errors. Sure, and banks already do that. A lot of it, in fact. My point wasn't that these things aren't possible with BTC. Rather, my point was that these problems don't go away just because you're not using a traditional currency. Which means the overhead associated with these problems doesn't go away, either. It's just that BTC is really small right now, and so the cost + difficulty of addressing these problems at scale isn't yet apparent. > with credit cards you are handing out your details every time you do a purchase. (1) No one makes payroll with a credit card; (2) BTC transfers -- especially at scale -- aren't as fast as CC transfers without someone assuming some risk; (3) CC companies basically exist to assume that risk and mitigate; (4) if you're going to design a new payment processing technology appropriate for POS transactions, creating a new currency is absolutely not necessary. > In a BTC economy Well.