this post was submitted on 07 Jul 2024
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So much for Blockchain's real life use cases (lemmy.ml)
submitted 9 months ago by whydudothatdrcrane@lemmy.ml to c/memes@lemmy.ml
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[โ€“] Deflaktor@beehaw.org 12 points 9 months ago (1 children)

Not even sure why I'm bothering replying to this bot, but guess misinformation should not be left alone

  • It's not instant it takes a long time until enough confirmations have been done. It's not even clear how many confirmations are enough.
  • It's only instant if you use the lightning network. Lightning network is literally a traditional bank transaction mechanism on top of bitcoin. If you are arguing for using lightning transactions, what is the point of bitcoin in the first place?
  • fees are huge and will only increase in the future.