4 ms·
> the miracle of being able to send up to $x,xxx,xxx USD (or any other currency) around the world, confirmed in less than 10 minutes for a paltry fee of ~$5. T
by disconnected 9y ago
> the miracle of being able to send up to $x,xxx,xxx USD (or any other currency) around the world, confirmed in less than 10 minutes for a paltry fee of ~$5.
That's a miracle?
I've ordered physical products from all over the world - China, USA, Europe, India - and the payment confirmation always a) took just a few seconds and b) cost me just a few cents.
I also rarely bring cash with me, and pay most things with debit card. After punching in the PIN, the confirmation takes about 2 seconds to be printed. I'm happy, the seller is happy, we all carry on with our lives.
I don't know what it looks like on the receiving side, but I routinely buy games from GOG and Steam and they immediately let me know that "payment has been confirmed" after a purchase is made, so I am assuming that they see the confirmation of the transaction on their side immediately.
The only miracle I see here is how somehow $5 and 10 minutes per transfer is considered a great leap forward in efficiency.
Certainly bitcoin brings a lot to the table, but efficiency, so far, isn't it.