The value of bitcoin (Score 2)

Consider that VISA and other payment networks charge ~3% transaction fees, whereas with bitcoin transactions are optionally free (with slower confirmation time) or cost a flat few pennies regardless of transaction size for faster confirmation. That could be a big difference in the bottom line of companies like ebay, amazon, or any business that accepts electronic payments.

The arguments that bitcoin mining is wasteful are without merit. Ripping apart the earth's crust to get gold or minting coins and notes of physical currency is wasteful. A little perspective please.