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3% for very low volume maybe. Get a little bit of volume and you'll get less than 0.7%.

That depends on what you're selling. If your store sells "high risk" items (I know electronics are a high risk item, and adult content as well), the fee can exceed 3%, as I understand it.

So the progress will be for consumers to willingly purchase without any protection? It's high risk for a reason, BTC doesn't solve any of that.

No, the solution is either for consumers to purchase from trusted stores only, or for a company to take over the role of arbitrageur between buyer and seller -- for a fee, of course.

Basically splitting the functionality of PayPal into two: 1) payment processing and 2) dispute resolution.

How is that possible given that my credit card gives 1% cash back?

A lot of people don't pay off their cards on time?

The average american has 15k in credit card debt[1]

1) http://money.cnn.com/magazines/moneymag/money101/lesson9/

they bank on you not paying the full balance every month so the interest alone will more than pay for your cash back.

That and the fees they collect from the merchants.

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