One of the problems I see with bitcoin for every day use is that you have to have the funds always available to pay for things. Unlike a credit card where you have the convenience of a credit limit potentially much higher than what you would be comfortable carrying with you. So, credit cards offer purchasing power without the risks associated with actually holding the same amount of cash.
For example, if I'm thinking of buying some awesome flat screen TV, or just have a large repair bill for my car, I want to be able to walk in the store and pay for it without having to transfer those funds to my phone in advance.
Is there a concept or startup out there anywhere offering credit based bitcoin purchasing? The credit could be prepaid funds, or verified deposits, or verified funds available, or just based on credit ratings similar to what credit card companies use today.
Point of sale payment would still be a funds push like any other bitcoin payment, but you would have access to funds for reasonably large purchases without having to carry those funds on your phone, tablet, computer, etc. Then, later you just settle up, much like paying off your credit card bill every month. This approach negates the fraud risk of credit cards, while retaining their convenience.
I'm definitely a fan of bitcoin, but I don't see it taking off if its usage remains strictly like cash.
Thoughts?