Zombie Node on Nostr: Agree comparing Bitcoin timechain to fiat is hard. Fedwire takes hours if you’re ...
Agree comparing Bitcoin timechain to fiat is hard. Fedwire takes hours if you’re lucky and costs about $40. Moving treasuries also could take hours. I think most swift trades typically take 2 days to settle now? Used to be 3. Final custody settlement at fiat base layer is no match for Bitcoin. Those big banks definitely have to trust each other. And there’s no guarantee you get the wired funds or asset back if you make a mistake in custody. I nearly pissed my pants when I sent a $25m bond to the wrong bank one time, but got it back. QR code and copy/paste address is a massive upgrade. Moving bonds is more complex than wite instructions with for further credit bs, because it goes down to the mutual fund level and can be different for every tx.
Published at
2024-04-22 23:58:20Event JSON
{
"id": "54bcfa17b8cfb814c5049ea8220c3dd14eaf08bb7b038e9a1ce6d3f9f994119b",
"pubkey": "de3b08dae965ca03ada57a75fe93a4b6fa5a8ebedb63a99bc7639c87ff15e76d",
"created_at": 1713830300,
"kind": 1,
"tags": [
[
"e",
"2aeee879a36eb3eecd5952b5e244bf95ad06eba233cc1091749b5301cad50751"
],
[
"p",
"23a1a9cbb1517937869a5ebaa0c415794b3c50b6423bb7131e117c67cfe322a9"
]
],
"content": "Agree comparing Bitcoin timechain to fiat is hard. Fedwire takes hours if you’re lucky and costs about $40. Moving treasuries also could take hours. I think most swift trades typically take 2 days to settle now? Used to be 3. Final custody settlement at fiat base layer is no match for Bitcoin. Those big banks definitely have to trust each other. And there’s no guarantee you get the wired funds or asset back if you make a mistake in custody. I nearly pissed my pants when I sent a $25m bond to the wrong bank one time, but got it back. QR code and copy/paste address is a massive upgrade. Moving bonds is more complex than wite instructions with for further credit bs, because it goes down to the mutual fund level and can be different for every tx.",
"sig": "0a571846bc4443c61b96b5718c9339f02813808f08a7f350a3da3054bd0bf33b78503a49efdf2efc2db40d6cf430e1c780e953b572a926c2f1c044bb520cb394"
}