He is taking the example of a bank transfer to show how bank are efficient and bitcoin is inefficient... Well is France BTC transfer are much faster than tradit

He is taking the example of a bank transfer to show how bank are efficient and bitcoin is inefficient... Well is France BTC transfer are much faster than traditional bank transfer, and we are not talking about international bank transfer that could take up to a week, and require 5 or 6 banks and institutions to work together (and you have to trust each of those institution), and the cost will be mush higher than an (already expensive) BTC transaction... But Bitcoin is not really a currency used for everyday life transaction, it is more like digital gold. As such it is doing well ! He is saying we can trust bank, and as such crypto and DeFi have no use. Some people feel otherwise, for 4 different points. 1) Some bank do fail... Icelandic's bank are a big example in Europe. 2008 is another example... People did lost some money there, despite massive state intervention. 2) Government can go and take part of the money you have in your bank account. Cyprus (part of the EU, not a random third world dictatorship) is an example of it 3) Government and central bank choose the monetary policy, which has a direct impact on the value the money you get into your bank account 4) Bank "use" your money in your account the way they want, not the way you want. You have a very little say in the current banks. BTC do consume a lot of energy... But there are other ways to do transaction with a much lower environmental impact (eg lightening network) and most other leading blockchain are using or moving toward much much much more energy efficient protocol. BTC is pseudonymous, but you can use other network to do anonymous transaction if needed