In Bit coin, unlike a credit card, payment can NOT be reversed (“chargeback”). The “chargeback” generates to the commerce an annual cost of 40 billion euros in frauds: anyone can make a payment and call his bank saying that he has not done it.
In addition, Bit coin is free to implement and has negligible transaction costs.
With this and more, many businesses offer a discount on the price of the product if a customer pays with Bit coin.
Bitcoin is totally open, free and free software. Anybody can see its source code, study it, audit it or improve it ( here you have it, propose your improvements). Hundreds of people improve it every day: some of the smartest brains on the planet do it better every day under a democratic consensus environment.
. Even if you want, you can copy it and start a new crypto currency ( there are thousands of clones with interesting changes, but also copies without any innovation).
Based on consensus
From the development of the code to the shape of its block chain 1 bitcoin , consensus operates as a fundamental axis. In its development, the ideas and improvements of the most voted codes for the rest are those that end up being implemented: Bit coin changes if the majority accepts this change. The same applies to the accounting book that manages, the block chain: only if the majority of nodes consider a new transaction valid is it accepted and recorded in the account book.
Bit coin cannot generate thousands of bitcoins a morning because suddenly you want a politician or a banker. There will never be more than 21 million and all are appearing for mining, always under rules that are totally public.
In Bit coin, you are your own bank. But in doing so, you do not pay for an account opening fee, monthly maintenance fees or false charges as if it were in a bank. You do not pay for having credit cards (in fact you do not need it, it’s an outdated technology) … Having a purse is free and with it you can store all the bit coins you want, as well as send bit coins to any part of the planet without anyone prevent it.
Nobody is going to charge you a subscription, no contracts, no stays, no withholdings, or your data in exchange for cutlery … These things in Bit coin sound “Chinese”!