Edelman is clearly biased.

He dissects problems/issues with Bitcoin like a surgeon but on the other side gives the rosiest picture possible (2.2% cash back, yeah right!) and ignores many of the fees and problems with the traditional payment system altogether.

For instance: he ignores the annual fees charged for Visa and MasterCard altogether. Bitcoin has no annual fee.

For instance: merchants pay a % on every transaction *and* an annual fee. Mr. Edelman astutely dissects both sides of the Bitcoin transaction and the risks in the middle but completely ignores the merchant side of the traditional payment processing system. Merchants pay as well. A fair comparison shows 2 sides of one system vs. 2 sides of the other. Not the costs of only one side of the traditional payment system vs. BOTH sides of Bitcoin.

Looks to me like Edelman may be just another high paid tool of the rich and powerful. Using his intellectual capital to attempt squelch or compromise (or just slow down) something that might undermine the power of US money center banks.

Maybe you think I'm exaggerating? Google his name and see what he did to a small business in Mass. A small Chinese Restaurant who made a minuscule error that he jumped all over.

I think he is a bully who makes his money by attacking the little guy - and tools that might help the little guy - like Bitcoin.