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What are you trading the 1 bitcoin for? Given that the typical use case is to purchase some product or service (rather than just transferring bitcoin for fun), how do you secure that aspect of the transaction?

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The same way that I secure my transaction when I pay the waiter for my meal in cash by giving it to them when I'm done eating.

I've paid for a lot of services in Bitcoin and been paid in Bitcoin. It's generally been a very smooth and enjoyable process.

A successful transaction is when one party pays and the other party delivers the good/service. If one party delivers but the other fails to hold up their end, blockchain technology doesn’t help and the solution is to seek recourse via the courts. You can mitigate this via escrow but that’s no different than non-blockchain transactions.

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