Forget about having zero protection with BTC rather than with a Credit Card...
but some how you're trying to tell me point and scan is better or somehow faster than just swiping??
How can you swipe on the internet?
^
Total cardholders' money lost: ZERO
Not exactly. Do you still shop and use your credit cards? Then you are losing more money. Who do you thinkcom takes the hit on stolen credit cards being used to buy stuff? The credit card companies? Nope. It's the merchants. If a thief uses your card to buy something, and you report your card stolen, the credit card company simply yanks that money out of the merchant's bank account. They don't go after the thief, or pay for the loss themselves. And the merchant has to make that money back somehow, so they do it by raising prices on everything in the store. The average annual loss to merchants from credit card theft is about 3%. That means stuff you pay for is 3% more expensive. So, take the total that you spend with credit cards every year, multiply that by 3%, and that's how much you and cardholders lost (for example, if you spend $1,000 a month, you lost $360 in a year).
Coincidentally, when I shop with bitcoin, I get discounts of 3% (and up to 10% sometimes) on everything I buy. So the reality is that cardholders are the ones actually losing money from theft, and I'm not.
