3 ms·
If Bitcoin can do it in 10 minutes globally, we can do it faster in a centralized system. Edit: ... Not to mention many other developed nations' banking system
by mhluongo 9y ago
If Bitcoin can do it in 10 minutes globally, we can do it faster in a centralized system.
Edit: ... Not to mention many other developed nations' banking systems.
Edit: Not sure about the downvotes, but really- please don't pretend sending money instantly within one country is rocket science. The reason we're in this mess is mostly banks wanting to hang onto float, and legacy. Both our neighbors to the north and south have much speedier internal banking systems than we do, as do countless other countries.
- Animats 9y agoTry to get anything out of a Bitcoin exchange in 10 minutes.
- mhluongo 9y agoI do it for a living.
- zaroth 9y agoHow do you query the card balance and transfer the funds? Do you actually get cash out of the card, or do you have to resell it as a store credit to someone else?
- mhluongo 9y agoLong story, and it very much depends on the brand. Re: cashing out, we do both transfers and resale, depending on the user risk profile.
- andirk 9y agoTo fiat that'll take a while, but moving it around the space cash world is often very quick, on GDAX anyways.