I'm no bitcoin apologist, but off the top of my head:
1. Due to Bitcoin's cash-esque nature, you don't hand over your account keys when you make a transaction. Every time I hand my credit card to a 16-year-old waiter I'm trusting that he's not going to take a quick picture of it with his cell phone to go shopping with online later. Since a Bitcoin transaction encodes a specific transfer of a specific amount from one address to another, I don't have to worry that that transaction is going to get leaked down the road (/stolen at an ATM/gas station/POS terminal) and end up putting my entire financial stability at risk.
2. Credit card processing fees inhibit a lot of services that could be microtransaction-based from becoming reality, because they aren't financially viable to run once you consider transaction fees. Bitcoin opens opportunities for a huge range of services that are only viable with minimal transaction fees to become reality.
Not sure about the situation elsewhere but here in Germany credit card usages usually requires a PIN or a signature. And the credit card company will pay for abuse if you are not responsible.
With transaction costs currently between 10 and 20 dollars per transaction and with a record of close to 100 dollars it does not really look like a good way to implement micro transactions.
Comments
I'm no bitcoin apologist, but off the top of my head:
1. Due to Bitcoin's cash-esque nature, you don't hand over your account keys when you make a transaction. Every time I hand my credit card to a 16-year-old waiter I'm trusting that he's not going to take a quick picture of it with his cell phone to go shopping with online later. Since a Bitcoin transaction encodes a specific transfer of a specific amount from one address to another, I don't have to worry that that transaction is going to get leaked down the road (/stolen at an ATM/gas station/POS terminal) and end up putting my entire financial stability at risk.
2. Credit card processing fees inhibit a lot of services that could be microtransaction-based from becoming reality, because they aren't financially viable to run once you consider transaction fees. Bitcoin opens opportunities for a huge range of services that are only viable with minimal transaction fees to become reality.
Not sure about the situation elsewhere but here in Germany credit card usages usually requires a PIN or a signature. And the credit card company will pay for abuse if you are not responsible.
With transaction costs currently between 10 and 20 dollars per transaction and with a record of close to 100 dollars it does not really look like a good way to implement micro transactions.
Where are you getting the transaction costs of between 10 and 20 dollars? For bitcoin? If so I think you need to take another look at your numbers.[1]
[1] http://i.imgur.com/DgQk0og.png
Not fees, transaction costs. See one of my other comments, I don't want to type it out once again.