Had the first cash sale and it has to be pending for two days before it becomes available. Then most likely another 2 day wait until it can be accessible from the bank account. Bitcoin fixes this. By a lot.
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The fiat system is a dinosaur.
Why do you have to wait for the bank to clear cash?
You mean credit or debit?
Because cash is instant you literally just hand it over physically.
Also, the rest of the world has had instant debit transactions for years.
It's called oska here, we use our phone number or email address(the same one you used to set up your bank account), usually instant, sometimes takes a few seconds.
No you’re right it is a debit transaction. Just said cash cause if it’s not bitcoin it’s fiat. And it’s most likely due to having to use a third party to process those transactions.
I'm constantly arguing with the "cash is king" people that it's just physical debt tokens the government loans from the central bank.
But I still think the distinction is important between cash and debit.
It's like a self custody vs custodial wallet.
I make that comparison whenever I'm explaining Bitcoin to people, cold and hot wallets are like cash vs debit.
It’s crazy to me that people still look the other way when it comes to bitcoin because price of it might do something. The fundamentals are the same and as long as I can move value from point A to point B without anyone intervening I will continue to do so.
That’s actually a really good way to describe it though. Might end up taking that page out of your book. Thank you
Me too. It just works, but most people still think of it as a stonk instead of p2p cash.
The looks you get when you ask people what was used before paper currency is crazy. And then if you ask what was used before that a lot of them just blank out. Money is but a concept and satoshi managed to create a better one.