Troed Sångberg on Nostr: nprofile1q…86naz "It’s still far slower and more expansive [sic!] even for ...
nprofile1qy2hwumn8ghj7un9d3shjtnddaehgu3wwp6kyqpq5w5xwgp4jy94hc7d5pt6hm7dgeg460csypvu34e7ygcejnw5eupqn86naz (nprofile…6naz) "It’s still far slower and more expansive [sic!] even for complex international money transfers than the “old world” financial system"
Clearly not true. Try transferring a few million $ across continents and then compare the time the transfer took, the cost, the security of it etc.
I've realized that a lot of people who compare Bitcoin to the current state of things don't really know how what we have actually works. I did a few years heading up a fintech SaaS service and learnt all about the horrible inefficiency kept together by duct tape.
Example: A credit card transaction might not clear (= finalize) until after six months. During that time the involved parties are basically throwing around an IoU between themselves - backed by ... good faith.
Clearly not true. Try transferring a few million $ across continents and then compare the time the transfer took, the cost, the security of it etc.
I've realized that a lot of people who compare Bitcoin to the current state of things don't really know how what we have actually works. I did a few years heading up a fintech SaaS service and learnt all about the horrible inefficiency kept together by duct tape.
Example: A credit card transaction might not clear (= finalize) until after six months. During that time the involved parties are basically throwing around an IoU between themselves - backed by ... good faith.