Won't the downfall of bitcoin be competition?

[lottamoxie]

Originally Posted by doodlemagic

I'm assuming if you pay a contractor you only pay them by credit card then because cash or check there's no refund.

I pay everything I possibly can by CC because I get cash back from every purchase, there's a float of sorts (up to 25 days) before payment is due, I get other benefits like double the warranty on items purchased, discounts on purchases from certain stores, insurance coverage for when I rent a car, and many other benefits. I pay no fee for having the card, and I pay the full balance every month, so I never pay interest on anything I buy.

I realize people in several other countries don't have credit cards and many people don't even have bank accounts. It's not my particular situation as the U.S. is where I live and it's a benefit available to me.

But, as I evaluate the value of crypto and how *I* would use it, I realize I probably wouldn't because there's no need and the transaction takes longer to complete and requires more steps.

[TexasTony]

Please check the merchant protocol BIP70 functionality for bitcoin. Currently overstock and coinbase deliver refunds to customer accounts via email. From there the funds can be moved anywhere. This is for bitcoin related transactions.

For ethereum based smart contracts, payment released from escrow or from wallet only when task has been completed or verified or a milestone has been reached. I am sure they have a built in refund or fraud check mechanism as well.

[doodlemagic]

Originally Posted by lottamoxie

I pay everything I possibly can by CC because I get cash back from every purchase, there's a float of sorts (up to 25 days) before payment is due, I get other benefits like double the warranty on items purchased, discounts on purchases from certain stores, insurance coverage for when I rent a car, and many other benefits. I pay no fee for having the card, and I pay the full balance every month, so I never pay interest on anything I buy.

I realize people in several other countries don't have credit cards and many people don't even have bank accounts. It's not my particular situation as the U.S. is where I live and it's a benefit available to me.

But, as I evaluate the value of crypto and how *I* would use it, I realize I probably wouldn't because there's no need and the transaction takes longer to complete and requires more steps.

All decent reasons. One thing I notice with many people and not saying you but people get so hungup on their rewards. I used to work at a currency exchange and people would use credit cards "for the rewards". I would tell them they are going to get charged a cash advance fee which is WAY more than their measly rewards would ever add up to and they still wanted to do it "for the rewards".

I know not everyone offers cash discounts but again I often pay in cash for better prices and I'm sure that comes out ahead of whatever small percent rewards get me.

Don't get me wrong love some of the perks of my chase saphire card and it sounds like you use them smartly but just wanted to say that as some people really think rewards are like gold

[TexasTony]

Originally Posted by CaptainNJ

i saw someone on facebook mention something called "hashgraph" and how it makes blockchain obsolete. i dont know if there is any truth to that but i would imagine that if there keeps being these other or better options, the value of them will have to limited by the realities that most of them will end up disappearing. i think.

Yes this is a good point. We are in early adopting stage of block chain similar to how we were in early adoption stage of dial up internet in the 90s. At that time it was too early to talk about 4G LTE networks or fiber optics or oculus rift. So yes hashgraph or lets say quantum computing or aritifcial intelligence might make anything that we talk about right now obsolete but mass adoption for those technologies is not going to happen atleast in the next 15-20 yrs or even later. Thats just my opinion... I do think that hashgraphs might be a better alternatives to blockchain around consensus creation. Thats the reason I got me some IOTA coin because unlike 90% of the crypto assests in the market, it is based on their patented Tangle technology which is bit different than typical blockchain so they are like the underdogs in the market trying to cause disruption.. so yes good post, you are way ahead than most of us which might give you a competitive advantage