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93 sats \ 0 replies \ @Aries 9 Feb freebie \ on: Can Bitcoin succeed without widespread adoption? bitcoin
Bitcoin has already proven to be a success with numerous use cases, but it remains a new technology that many people don’t fully understand.
In contrast to the current financial system, which takes 1 to 3 days to settle money through ACH transfers and often charges fees for wire transfers, Bitcoin enables transactions to be settled within thirty minutes, depending on fees. This process is available 24/7, including weekends and holidays. Unlike our current system
Other platforms, like PayPal and Venmo, are extremely popular for their user-friendly approach to sending money. With just a phone number or email address, users can initiate an "instant transfer." While the funds still require settlement, recipients typically see the money in their accounts within seconds.
Lightning addresses offer a similar ease of use. It facilitate quick fund transfers; however, the Lightning Network is even more complex than Bitcoin itself. Nevertheless, we have made significant progress in just 16 years.