If you knowingly give your details over to a phishing attempt, then yes, you bear the loss. Otherwise, any loss of monies from your bank account through hacking or identity fraud will be borne by your bank. Granted, it would still be a hassle, but I am not really at risk if a website which has my details gets hacked and my CC number gets stolen.
>Otherwise, any loss of monies from your bank account through hacking or identity fraud will be borne by your bank.
Hopefully. Sure in an ideal world, you get your money back. But the real world sucks. And if you do get the money back then you have to get a new CC and go through that whole process.
Bitcoins also means that to spend online you don't have to give someone total control of your funds. My chase checkings account was put on hold and my card cancelled when I bought Bitcoins from a friend using Chase Quickpay. I had to meet with someone, in person, and get an entirely new card. Just because Chase didn't like the way I had spent my money. No one had attempted a refund, or complained. Chase just noticed the email was associated with lots of Bitcoin sales and closed my account without informing me. With Bitcoins you don't need to give a 3rd party that much power just to be able to spend money online.
Just because if everything works perfectly then you are eventually isolated from the risk doesn't mean that there is no risk. There are real costs to identity fraud even if the financial ones are eventually corrected for.
Imagine that I am traveling abroad and only have one bank, if someone broke into my house and found my routing and account number then I would have to get new ones. As I am traveling abroad I will have to continutally have access to money to simply have a place to stay. Suddenly something that you are saying isn't a risk to me is really fucking up my trip and even has the potential to have me sleeping on the street.
Bitcoin provides a different way to deal with the risk, it lets you control almost all of the risk personally, of course this means that if someone does steal your bitcoins from you, you are fucked. No third party to protect you, but also no third party to mess you up.
If you knowingly give your details over to a phishing attempt, then yes, you bear the loss. Otherwise, any loss of monies from your bank account through hacking or identity fraud will be borne by your bank. Granted, it would still be a hassle, but I am not really at risk if a website which has my details gets hacked and my CC number gets stolen.