> blockchain allows essentially instantaneous completion of transactions between unrelated parties with no clearing house. Wait, aren't blockchain transactions

> blockchain allows essentially instantaneous completion of transactions between unrelated parties with no clearing house. Wait, aren't blockchain transactions hilariously slow and depend on an internet connection? > Clearinghouses make a lot of money just guaranteeing transactions. That is friction in the system. Aren't popular blockchains using transaction fees to pay for validation? > Wire transfers, ACH, cashiers checks, etc all have the same issues. Seems to also apply to bitcoin.