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Unless you’re paying cash, average final settlement time is ~90 days, in reality. That’s just been abstracted away from the credit card user. Bitcoin settles in
by dogman144 6y ago
Unless you’re paying cash, average final settlement time is ~90 days, in reality. That’s just been abstracted away from the credit card user. Bitcoin settles in 6 blocks (60 mins)
Now, on the UX topic, btc has a lot to improve. But I’m always surprised how rapidly people assume their transactions in fiat are settling as a comparative criticism for Bitcoin.
- cableshaft 6y ago> Unless you’re paying cash, average final settlement time is ~90 days, in reality. Do you have a source for that? I tried looking and everything I saw is it would take between 24 hours and 3 days on average, for credit cards. You very well could be right, I'd just like to see something that confirms it, and wasn't able to find anything. Example source: https://lifehacker.com/this-is-why-your-credit-card-transactions-take-so-long-1786567382 https://lifehacker.com/this-is-why-your-credit-card-transact...
- dogman144 6y agoOne way to look at it is w/ credit cards, bill isn’t due until the end of the month (for a reason, and then all settlement starts occurring once you pay it). Would like a better source, I have that timeframe from an Anthony Pompliamo (VC in the space) interview by Lex Fridman, but I’m looking for a primary source as well.