• TWeaK@lemm.ee
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    11 months ago

    Bitcoin is objectively better based on the way it works. Subjectively, with the established infrastructure behind it, traditional card payments are artificially better - purely because of convenience. But on a level playing field bitcoin works better and is less susceptible to negative influences.

    The grocery store is not typically an online transaction. I did specify online transactions. For buying groceries online, bitcoin would be better - there are no fees when trading bitcoin. When trading cash, there are no fees.

    When putting cash into a business account, there are fees, and as almost all businesses put their money into an account they pay these fees. These cash deposit fees and card processing fees have grown in such a way as to entrap nearly all commercial transactions.

    Objectively, it’s better if there aren’t fees, particularly when the fees are not proportional to the actual service the fees are supposed to represent.

    • Croquette@sh.itjust.works
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      11 months ago

      That’s a weird take. A system is better because it’s free?

      I re-read your comment and I missed the fact that you said online buying, sorry about that.

      One advantage of traditional CC over Bitcoin is buyer insurance against fraud. If someone gets a hold of your Bitcoin wallet, he can take out everything and you have no recourse.

      If someone steal your credit card and make fraudulent purchases, the transactions will be cancelled and you won’t be left on the hook.

      • TWeaK@lemm.ee
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        11 months ago

        That’s credit, most online purchases are made with debit cards.

      • TauZero@mander.xyz
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        11 months ago

        The credit companies do not insure against fraud, they simply take the money out of the merchant account and put it back into yours. Now it’s the merchant who has no recourse, if they have already shipped the product. So the only difference between CC and crypto is who is typically left holding an empty bag in case of theft - the payer or the payee. Certainly not the banks!

        I’d argue in terms of assigning responsibility, it seems more fair to expect you the customer to keep your digital wallet secure from thieves, than to expect the merchant to try guess every time whether the visitor to their online store happens to be using a stolen credit card.