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While the overall transaction rate limit is low, the typical customer experience is quite good. I mean Visa transactions take 1-3 days for the merchant to actu

While the overall transaction rate limit is low, the typical customer experience is quite good. I mean Visa transactions take 1-3 days for the merchant to actually receive the funds. On top of that it's not settled on the consumer's end until the transaction posts to their account 1-3 days later. Bitcoin on average settles in something like 10 minutes and is non-reversible at that point. It's far from perfect but I feel the case you are making is disconnected from the actual experience today.

arcticbull 6y ago
> I mean Visa transactions take 1-3 days for the merchant to actually receive the funds. Luckily we have loans. Merchant processing is something I happen to know way too much about. The fact it takes a few days to settle is an implementation detail. Square for instance will front you until settlement and pay you out overnight, free. I believe all merchant acquirers have followed suit. This aspect is not a real problem for anyone anymore.