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681 points Anon84 | 2 comments | | HN request time: 0.468s | source
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spicyusername ◴[] No.46181533[source]
I've never understood the initial arguments about Bitcoin, no matter how many times they've been explained to me.

The block chain is, and always was, an extremely inconvenient database. How anyone, especially many intelligent people, thought it was realistic to graft a currency on top of such a unwieldy piece of technology is beyond me. Maybe it goes to show how few people understand economics and anthropology and how dunning-krueger can happen to anyone.

Now the uninformed gambling on futuristic sounding hokum? THAT is easy to understand.

That being said, I'm sorry the author had to go through this experience, the road of life is often filled with unexpected twists and turns.

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TrackerFF ◴[] No.46181747[source]
At least for me, the big selling point was being able to send money fast and relatively cheap. Back then you either had PayPal, or wire transfer. PP could easily freeze and hold your money over whatever issues, while bank transfer was slow.

And, mind you, I only purchased/sold legal stuff.

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bialpio ◴[] No.46189681[source]
This is only a selling point in places like USA. Even before moving to the USA 13 years ago I was able to send money via wire transfer domestically for free, and it settled within 1 business day (to me that's fast enough). IIUC nowadays intra-EU wire transfers also are free (but I kinda view them as "domestic"), however I'm not sure how quickly they settle. The way how banking worked in the US was definitely one of the biggest culture shocks I've experienced when moving (and not in a positive way).
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1. Ekaros ◴[] No.46190026[source]
Less than 10 seconds for SEPA Instant. Still some stragglers, but I have understood coverage starts to be pretty good.
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2. KellyCriterion ◴[] No.46191112[source]
....coverage is obliged by ECB since of 01.10.2025 :-) (for 100% implementation, some banks had earlier already the option to receive them but it was not widely used as nearly no one was able to send before the regulatory forces stepped up to enforce support for it)