Faster Payments exists today, costs nothing to the end user, and usually takes seconds.
Bitcoin processes 200-500k payments per day[0].
Faster Payments processes 230k payments per hour[1].
Bitcoin may be superior to what currently exists in the USA as provided by banks, but it isn't compared to existing private sector payment solutions, and it definitely isn't compared to what other countries have already implemented successfully in their banking system.
Again, long time bitcoin holder and user, I'm painfully aware of the downsides having paid absurd fees and still ended up waiting hours for a transaction to finally get accepted into a block.
Bitcoin's great as a speculative asset, but it's not so great as currency.
Comments
Faster Payments exists today, costs nothing to the end user, and usually takes seconds.
Bitcoin processes 200-500k payments per day[0].
Faster Payments processes 230k payments per hour[1].
Bitcoin may be superior to what currently exists in the USA as provided by banks, but it isn't compared to existing private sector payment solutions, and it definitely isn't compared to what other countries have already implemented successfully in their banking system.
Again, long time bitcoin holder and user, I'm painfully aware of the downsides having paid absurd fees and still ended up waiting hours for a transaction to finally get accepted into a block.
Bitcoin's great as a speculative asset, but it's not so great as currency.
[0] https://www.blockchain.com/en/charts/n-transactions?timespan...
[1] http://www.fasterpayments.org.uk/press-release/faster-paymen...