I don't disagree with anything you wrote. The fees for credit cards is baked into the prices for goods but spread across debit and cash purchases so those that pay fees and don't get cash back are getting the raw end of the bargain. Block chain for international or extranational transactions could be independent of government oversight but that might cause it to be outlawed by the U.S. It would be like offshore banking and always suspect of being criminal.

Right now, using a credit card is way better than any existing block chain transaction. I am protected from fraud, I get cash back, I don't directly pay any fees of any kind. They will get my money back if a vendor does not make proper refunds. They provide me with useful spending statements. I know that I am privileged since I qualify for cards that other don't. It is going to be very hard for crypto to offer me a better product.

My only crypto transactions to date have been speculative. I made a little money buying and selling Bitcoin. The fees were atrocious. My exchange made more money than I did. I know about ways to reduce my fees but still it is not fee free like my stock transactions.

The status quo works very well for me so crypto will have a hard sell to make me a convert.

TEK