What is the value of the bank wire system? Bank wires are currently Bitcoin's closest competitor, and in aspects each has advantages. The bank wire system has

What is the value of the bank wire system? Bank wires are currently Bitcoin's closest competitor, and in aspects each has advantages. The bank wire system has had a lot of technical debt built up over the years, and has left a market opportunity by being risk averse and slow to innovate. People used to speak about paying for a cup of coffee with Bitcoin, but that isn't really a great use case for how it is designed. It has an inherent latency of about an hour and fees don't scale with price. If you want to transfer a lot of money in less than a day to someone who may not trust you, it's great. If you don't mind it being slower, have trust, or need to transfer small amounts, other systems are likely better for your use case.