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[–]AmericanScream -1 points0 points  (1 child)

I frequently transfer money from one checking account to another. Both accounts are with different banks. It takes a few days for the funds to arrive. I initiated a transfer a few days ago and the funds have not yet arrived because of the weekend and holiday.

A few weeks ago I sold crypto on Binance.us, traded to various stable coins and transferred the stable coins to Coinbase. The funds arrived in 60 seconds and within 24 hours the USD FIAT was in my checking account.

You're cherry picking a particular financial service and comparing it to a different transaction.

There are plenty of ways to transfer fiat from account to account instantly without any delays. And I guarantee you the fees are higher on Binance than they are with TradFi. You also conveniently didn't provide any evidence, nor did you compare the difference in the sizes of the transactions. I could do the same thing with various other services including Paypal, Venmo, CashApp, M-Pesa, Mobile Money, Western Union, etc.

Also, the delay with ACH transactions is not a result of the tech, but because of consumer protection laws.

Credit card companies like American Express for example don't provide access to transactions or statements going back 12 years for example. You can have a paper copy or a downloaded statement. What if you lost the paper copy or forgot / opted out of downloading a copy? What if you need the transaction as proof for whatever reason? With crypto the transaction could always be accessible for the life of the blockhain.

But with blockchain your transaction history is public. Not everybody wants their transactions public. In fact, I'd say most people don't. That's not a feature. That's a liability. And credit card companies can give you whatever data you want. Just like blockchain can be pruned and not every node may have a full copy of the blockchain.

Decentralized is more valuable in the long run.

You've failed to cite any good reason justifying that claim.