Data must be secured in transit and at rest. TLS protects data in transit only, and does not prevent offline attacks (e.g. recent Linkin breach).
We need both TLS and bcrypt, not just the former.
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No matter how great and destructive your problems may seem now, remember, you've probably only seen the tip of them. [1]
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and does not prevent offline attacks
of course not :) I wasn't suggesting switching away from bcrypt, merely that the cost is not as important for online attacks, those can be throttled effectively
but, for offline, you should use encrypted harddisks and not rely on bcrypt alone
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I beg to differ. Ideally, it should be safe to publish the hashes online as no-one should be able to search the password space in reasonable time.
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