permabulls not only lost the control over this section-in fact they are extinct

[NotLambchop]

>The average annual loss to merchants from credit card theft is about 3%.
No.  "During 2012 credit card and debit card gross fraud losses accounted for roughly 5.22₵ per $100 in total volume, up from 5.07₵ per $100 in 2011.
(Source: Nilson Report, August 2013)

"According to the Startup the average e-commerce retailer loses 3.1% to fraud every year." (http://letstalkpayments.com/3-4-b-annual-fraud-losses-due-chargebacks-reversals-signifyd-can-help/)

I offer the Nilson Report as source, you offer a blog post pimping a business by some Bitcoiner
About the author
"Chiraag Patel is a Senior Reporting Analyst and the Editor of Bitcoin and Virtual Currency channels at Lets Talk Payments. He is an engineer with deep interest in MMORPG, Virtual Banking, Game Currency and Virtual Cash. Chiraag enjoys Reading & Blogging with focus on New Innovation, Technology & Startups in the Payments Space."

[Elwar]

>The average annual loss to merchants from credit card theft is about 3%.
No.  "During 2012 credit card and debit card gross fraud losses accounted for roughly 5.22₵ per $100 in total volume, up from 5.07₵ per $100 in 2011.
(Source: Nilson Report, August 2013)

"According to the Startup the average e-commerce retailer loses 3.1% to fraud every year." (http://letstalkpayments.com/3-4-b-annual-fraud-losses-due-chargebacks-reversals-signifyd-can-help/)
"LexisNexis published a survey according to which in 2013, an average merchant lost about .68 percent of annual income to fraud. A merchant has to pay around $3.08 on each dollar to replace the losses, penalties and chargeback fees.” (http://www.forbes.com/sites/quickerbettertech/2014/09/22/why-the-home-depot-breach-is-worse-than-you-think/)

I'm going to stick with my 3% average annual loss to fraud number. Meaning $360 a year, like I said, and not $6.26.

>when I shop with bitcoin, I get discounts of 3%
No.  You get a 3% discount from a limited list of retailers who accept cash through the payment processor you use.

They accept bitcoin. I don't care what they do with that bitcoin once they get it, and nor should I. Yes, the number of merchants who accept bitcoin right now is limited. So what? That number is growing, and I suspect so will the options where I can get discounts. Plus, despite that number of merchants being limited, I can buy literally everything I need with bitcoins, at that discount.

You also do not get the buyer protection you [falsely] claimed costs me 3%.
(Source: fact)

Yes. Because I don't need it. There is no risk of my bitcoins being stolen from me using them to pay a merchant, unlike if I was using a credit card. So why do I need it?

No reason to try to reason with NotLambChop. He is trolling on a quest to be ignored by every single user of bitcointalk. By quoting you remind us all why we put him on ignore many months ago.

[NotLambchop]

...
No reason to try to reason with NotLambChop. He is trolling on a quest to be ignored by every single user of bitcointalk. By quoting you remind us all why we put him on ignore many months ago.

When logic and reason turn against you, type "troll" and they'll vanish.  Works every time

GG bro.

[jaredboice]

NotLambchop: "This user is currently ignored." 

[NotLambchop]

^Amazing

[JimboToronto]

NotLambchop: "This user is currently ignored." 

Welcome to the world of no yapping chihuahuas and screaming rugrats.  

[Bit_Happy]

Bitcoin will be worth over $100,000 each in under 7 years!
Long live the huge bull market, and no "small minds" on public forums will have any real impact.

[NotLambchop]

Bitcoin will be worth over $100,000 each in under 7 years!
Long live the huge bull market, and no "small minds" on public forums will have any real impact.

[Rassah]

>The average annual loss to merchants from credit card theft is about 3%.
No.  "During 2012 credit card and debit card gross fraud losses accounted for roughly 5.22₵ per $100 in total volume, up from 5.07₵ per $100 in 2011.
(Source: Nilson Report, August 2013)

"According to the Startup the average e-commerce retailer loses 3.1% to fraud every year." (http://letstalkpayments.com/3-4-b-annual-fraud-losses-due-chargebacks-reversals-signifyd-can-help/)

I offer the Nilson Report as source, you offer a blog post pimping a business by some Bitcoiner

I didn't even notice the thing about the author. Note I also provided a LexisNexis report, and the original source that I found this out from, the link I can't find anymore, was from Forbes, which I corroborated by checking other links at the time. Trust me, loss to credit card fraud is 3%, not 0.05%

[NotLambchop]

...Trust me...

If I trusted you, citing your sources would not be necessary.  I do not trust you.  Neither in being unbiased, nor in your ability to interpret data.  I don't even trust your math.  Let's see:

an average merchant lost about .68 percent of annual income to fraud. A merchant has to pay around $3.08 on each dollar to replace the losses, penalties and chargeback fees.”
...
I'm going to stick with my 3% average annual loss to fraud number.

Assuming this is correct, and $1 lost to fraud winds up costing the merchant $3.08 (~x3), we get ".68 percent" * 3 = 2.04%. Two percent.  Not three.

TL;DR: Everything I bothered to verify wound up being either laughable or laughably inaccurate.  

[inca]

This user is currently ignored. This user is currently ignored. lol.

[NotLambchop]

This user is currently ignored. This user is currently ignored. lol.

In just the past 24hrs, ignoring my advice has cost you ~5%, or 2% more than CC fraud losses, according to Rassah.
Stay proud of your ignorance, Bitcoiner.  Everyone needs something to be proud of!

[spazzdla]

BOOM

[Rassah]

...Trust me...

If I trusted you, citing your sources would not be necessary.  I do not trust you.

an average merchant lost about .68 percent of annual income to fraud. A merchant has to pay around $3.08 on each dollar to replace the losses, penalties and chargeback fees.”
...
I'm going to stick with my 3% average annual loss to fraud number.

Fine, whatever. But In just the past 24hrs, ignoring my advice has cost you ~5%, or 2% more than CC fraud losses.

Only because we had more good news. Time publishing now takes bitcoin too. Step 1, make bitcoin actually useful enough for normal people to bother obtaining, by making them be able to spend it on stuff. That will obviously drive down prices, since now early investors and hodlers can spend it on stuff. Step 2, now, is to get more normal people to adopt it. That's where merchant discounts (and currency controls by failing nations) come in.

[fewcoins]

...Trust me...

If I trusted you, citing your sources would not be necessary.  I do not trust you.

an average merchant lost about .68 percent of annual income to fraud. A merchant has to pay around $3.08 on each dollar to replace the losses, penalties and chargeback fees.”
...
I'm going to stick with my 3% average annual loss to fraud number.

Fine, whatever. But In just the past 24hrs, ignoring my advice has cost you ~5%, or 2% more than CC fraud losses.

Only because we had more good news. Time publishing now takes bitcoin too. Step 1, make bitcoin actually useful enough for normal people to bother obtaining, by making them be able to spend it on stuff. That will obviously drive down prices, since now early investors and hodlers can spend it on stuff. Step 2, now, is to get more normal people to adopt it. That's where merchant discounts (and currency controls by failing nations) come in.

Correct, we need to do our part as well & let more people know about bitcoin... www.KlipKeeper.com we are doing our part with accepting bitcoin & at least letting people know about this coin & how well it works versus banks

[exocytosis]

Is bitcoin the fastest, most secure, and cheapest way to send money? yes. Is bitcoin the only way to directly buy anything from anyone on Earth? Yes.

LOL!!! So bitcoin is actually faster, more secure and cheaper than credit cards? And it has more utility than credit cards? And bitcoin is more widely adopted among merchants and consumers than credit cards?

Have you closed your eyes to the real world? What planet are you living on?

Bitcoin is a ridiculously slow, cumbersome, unsafe, user-unfriendly, crappy pyramid scheme technology -- and is viewed as such by the general public. People don't want it. They don't need it. That's why most miners, whales and early adopters are dumping. And that's why the price will continue falling until no one are left holding the bags -- except a few thousand child pornographers and drug addicts ... and four or five cultists.

[xcapator]

The scariest part is not early adopters dumping bitcoin but stolen coins from gox and other hacked exchanges, and also the SilkRaoad coins. Imagine if all the coins get dumped, we'll hit $10 in the blink of an eye

[NotLambchop]

...Trust me...

If I trusted you, citing your sources would not be necessary.  I do not trust you.

an average merchant lost about .68 percent of annual income to fraud. A merchant has to pay around $3.08 on each dollar to replace the losses, penalties and chargeback fees.”
...
I'm going to stick with my 3% average annual loss to fraud number.

Fine, whatever. But In just the past 24hrs, ignoring my advice has cost you ~5%, or 2% more than CC fraud losses.

Only because we had more good news. Time publishing now takes bitcoin too. Step 1, make bitcoin actually useful enough for normal people to bother obtaining, by making them be able to spend it on stuff. That will obviously drive down prices, since now early investors and hodlers can spend it on stuff. Step 2, now, is to get more normal people to adopt it. That's where merchant discounts (and currency controls by failing nations) come in.

TL;DR:  Your sources were trash, your math was wrong.  While we were having this chat, Bitcoin continued to tank, dropping in price by ~11%.



Get past denial, time to move on.

[Apraksin]

Permabull here, certainly not extinct. Just on a looooong break from the forum because of all the trolls, I have so many people on ignore it's hardly worth reading anything.

[Dafar]

PERMABULL CHECKING IN MY NIGGAS WE GOING HIGH AS A MOTHERFUCKER U JUST WAIT AND SEE