In the UK a bank transfer BACS takes a few seconds, for this to increase to 4 days would be received badly.
Discussion
The annoying to me is why is their solution to take more time? Seeing as it’s 2024 they could be doing things like transacting outside of “regular” hours, working over weekends or increasing staff.
A bank computer working weekends?
The unions would stop that 😂
It always takes disruption to remove an entrenched industry. The Internet did it to many industries 30 years ago. The difficulty for Bitcoin is that it attacks the heart of government and banks. It's a much tougher fight this time.
I'm still surprised that Estate Agent (Real Estate) is still a thriving industry. The Internet should have disrupted that in the same way it disrupted travel agents, but the Estate Agents were clever, despite their reputation, and embraced the technology and prevented true disruption from being too severe for them.
I worked with a startup that tried to disrupt real estate over a decade ago. It's very hard. The listings are all copyrighted, and there's so many in based rules. For example they charge a % for stuff, where as bitcoin charges a flat fee to send 1 million or 100 bits.
Thing about bitcoin is that the richest buy it first. And they are normally the ones that have the money and are in leadership positions. So you see people that would normally be deep state leaning, but also hodlers, suddently pivot to one-issue thinking. You can even see it here on nostr.
Bitcoin is an incredible psy-op.
Perhaps technology is like Darwinian evolution, most of the time these small incremental adaptations make very little difference. But occasionally an adaption comes along that is so good it enforces extinction of the unadapted, but the battle that ensues in the process is bloody and severe.
Then we have a new species and the script repeats.
You're right, innovation always comes from the have-nots, as the haves already have everything they want and don't need to expend unnecessary energy maintaining their status, or at least, that's what they believe.
Yes, as Terence McKenna says, the human brain evolved too fast for the theory of evolutoin to explain. Which is particularly embarassing for the theory of evolutoin, because it is the organ that created it :D
I do lean towards the idea of evolution (or revolution) coming from a small vanguard, which spreads. Lots of authors point to this, not just Wallace-Darwin, but Vico, Spengler, Joyce, (later) McLuhan, and many others all had something to say about these cycles, particularly, technology cycles.
Darwin 😂
I do tend to think there is a limit to knowledge, an ant will never understand America or a house and so a human can never understand itself at the limits of its existence or environment.
I'm comfortable with that notion, which is why I don't seek out religion or spirituality.
I realise things take time etc but I’m in the process of getting another passport and it’s taken 2/3 months to get ‘PAPER’ copies of mine and my father’s passport from different parts of the world. Bitcoin aside, you’d think that’s the kind of info that would make sense to be on a distributed ledger of some kind. It’s crazy to me.
My new passport and driving license were (relative to the bureaucracy of government) very simple. I took an iPhone selfie with specific conditions (actually my wife had to take it).
I went online uploaded it, filled in a form with only a few stupid questions and then received my passport a couple of weeks later.
The driving license shared the same uploaded photo and was a renewal, so a couple of questions on an online form, a few GBP and again a couple of weeks later a renewed driving license arrived in the post.