> When you look at all the purchases you make over a week, I assert you are only interested in paying the overhead of open, reversible transactions for very, very few of them.
I thought that the benefit of reversible transactions would be for the case someone steals my credit card and uses it.
If credit card companies could tell it wasn't me who used it they could have declined it in the first place. Since I have had other people charge things to my credit card before, I'll assume that's not possible and so I'm thankful the transactions are reversible.
There is also the case where there's a bug with payment processing. My friend was recently charged for 5 computers because Lenovo's website kept saying there was an error with the transaction when it actually went through.
Well with Bitcoin it's trivial to prove that a transaction went through, and you'd only pay for 5 computers if you carelessly transmitted a transaction without reading the amount.
I thought that the benefit of reversible transactions would be for the case someone steals my credit card and uses it.
If credit card companies could tell it wasn't me who used it they could have declined it in the first place. Since I have had other people charge things to my credit card before, I'll assume that's not possible and so I'm thankful the transactions are reversible.
There is also the case where there's a bug with payment processing. My friend was recently charged for 5 computers because Lenovo's website kept saying there was an error with the transaction when it actually went through.