Justifying
#Bitcoin's flaws by highlighting the flaws of the Tradfi system it tries to fix is not exactly the best argument.
While it's true that Bitcoin transactions offer certain advantages, it's essential to consider the broader context when comparing it to traditional financial systems.
One of the many reasons Credit card transactions may not settle immediately is that they do provide a level of consumer protection through chargebacks. If there's an issue with a purchase, credit card users can dispute the transaction and potentially get their money back. In this scenario, that's a justifiable delay and totally understandable.
On the other hand ..
Bitcoin transactions, being irreversible, lack this feature, making this point in the argument not in favor of
$BTC. I mean, what's
#BTC excuse again for being slow? Taking up to an hour for unjustifiable reasons is not a solution, it is a problem itself.
Moreover, the comparison to SWIFT might oversimplify the complexities of global financial transactions. While SWIFT transactions may take a few days, they often involve cross-border transfers, compliance checks, and regulatory processes, which contribute to the delay. Bitcoin transactions, on the other hand, already slow without all that, and might face even more challenges in achieving widespread adoption due to regulatory uncertainties and concerns about volatility.
Layer 2 solutions like Lightning inherit Bitcoin's issues and then introduce their own set of challenges, such as liquidity constraints and potential centralization risks. While they offer faster and cheaper transactions (also debatable), their scalability and security need thorough consideration.