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Another reason why Bitcoin (or something like it) does have legitimate benefits...

Downside of CC breach: get new magic number, distribute to various service providers.

Downside of single (exploited) mistake in bitcoin wallet management: total loss of value.

I agree with mpg33, this sounds like a situation that would never happen with Bitcoin. Yes, the damage potential is probably more severe, but (assuming I control my own wallet) how does one use stored information of a third-party against me to steal my BTC? This is very easy to do with leaked credit card data. Furthermore, if your wallet is well-encrypted, you cannot forget about it in an ATM and leave it behind for Joe Jackass to use to rip you off.

> Downside of single (exploited) mistake in bitcoin wallet management: total loss of value.

...is a lot less damage than 40 million exposed credit cards

I thought it was clear enough that my comment was written from the perspective of an individual.

Getting my credit card details stolen is going to be less damaging than all but the smallest wallet thefts.

> perspective of an individual

Ignoring the absurd interest rates, fees, insurance that cc companies charge...you assume that credit card/debit card theft costs are never passed on to the consumers

Is there no Bitcoin theft?

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