Proof-of-work is an abomination. Totally irresponsible.https://twitter.com/bascule/status/1234493080583143424 …
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SWIFT does not settle transactions. Only sends secure orders. Banks then communicate ad-hoc and settlement often takes days (or more, over multiple hops w/variable fees). BTC confirms in minutes and reaches finality within an hour. SWIFT costs orders of magnitude more.
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Bitcoin doesn't fully settle transactions either. It creates an additional Forex problem for all parties.
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