> Moving large amounts of money 24/7 worldwide, outside of any bank, quickly
But who needs this every day? Most people value security of their money over that kind of flexibility, especially when modern online banking gives you 95% of the same benefits.
Besides, one can tout all the “real” advantages they want, but perception is everything. If people think crypto is a quick way to get stolen from they simply won’t use it. No amount of convenience will get someone to go through the process of setting up a wallet, downloading the ledger, setting up an account on an exchange (which requires them to link a bank account!), and convert their money to crypto. All so they can maybe get some perks a small % care about, let alone need.
I can move $10,000 or less daily, all near-instantly from my computer with my bank. I can’t imagine a world where I need more than that on the regular. That’s something many go years without doing.
Yea I guess this is where you anecdotal experience runs out because there are a lot of busy people and companies out there working in all sorts of industries moving a lot more than 10k around constantly. Banks are an unnecessary middle man not only slowing things down, but taking a a cut out of transactions as well.
Anecdotal? Most people aren’t corporations. Most people have absolutely no need to move over 10k USD in a single day regularly. You can take it at face value, it’s very obvious.
You’re also forgetting that businesses already can. The 10k example was for me as an individual. It sounds like you're saying businesses are currently unable to transfer large sums of money regularly and Bitcoin is their solution. It's very perplexing.
Well I know that I can't pay my mortgage or children's tuition with bitcoin (my two largest regular expenses), I know that transactions actually can take minutes so I don't want to use it to buy coffee, I know that if I forget my password I lose literally every cent in my wallet with no recourse, I know I need to convert it to USD to do 99% of my daily transactions, I know that the price it's at today is not the price it will be at tomorrow with margins much wider and more frequently occurring than with USD, and I know that most people have absolutely no desire to learn how to use it (as evidenced by over a decade of modest adoption and most vendors not accepting it).
But who needs this every day? Most people value security of their money over that kind of flexibility, especially when modern online banking gives you 95% of the same benefits.
Besides, one can tout all the “real” advantages they want, but perception is everything. If people think crypto is a quick way to get stolen from they simply won’t use it. No amount of convenience will get someone to go through the process of setting up a wallet, downloading the ledger, setting up an account on an exchange (which requires them to link a bank account!), and convert their money to crypto. All so they can maybe get some perks a small % care about, let alone need.
I can move $10,000 or less daily, all near-instantly from my computer with my bank. I can’t imagine a world where I need more than that on the regular. That’s something many go years without doing.