I pay for my monthly satellite TV subscription with a bank transfer and for some obscure reason I forgot to pay it this month. I was still watching the World cup Cricket tournament, when a message popped up, saying that my account was in the arrears and they blocked my viewing.
I immediately logged into my internet Banking and checked my payment history and realized that I skipped that payment for some reason, so I made the payment and thought I would wait for a hour or two and then resume viewing. Noooot!
8 HOURS passed, I phoned the company and they informed me that the payment is not reflected on their system yet, so I waited another 4 hours and phoned them again.
A whole 21 hours later the payment went through and I could continue viewing, but the match I wanted to see was finished.
If I paid with Bitcoin, this same payment would have taken less than 20 minutes at most, but unfortunately this Satelite provider does not accept Bitcoin payment for this service.
I immediately logged into my internet Banking and checked my payment history and realized that I skipped that payment for some reason, so I made the payment and thought I would wait for a hour or two and then resume viewing. Noooot!
8 HOURS passed, I phoned the company and they informed me that the payment is not reflected on their system yet, so I waited another 4 hours and phoned them again.
A whole 21 hours later the payment went through and I could continue viewing, but the match I wanted to see was finished.
If I paid with Bitcoin, this same payment would have taken less than 20 minutes at most, but unfortunately this Satelite provider does not accept Bitcoin payment for this service.
what thngs you have pointed out is just one of the reasons to love the Bitcoin network and blockchain in entirety, but have you taken a second look at the Fees they charge per transaction and how they get you to verify and reaffirm numbers to just have a valid and corresponding transaction and not mistaken it for someone else's. Then the fact that the ledger in which the transaction got recorded can be hacked and documents deleted or even altered to suit another reason. Bitcoin is second to none.