Feel free to send me as much nano as you like, but I'm pretty sure that since I can't actually buy things I want with nano, the process of linking a crypto gateway to my bank account wouldn't be quicker and cheaper than waiting for funds from Transferwise or similar to clear.

That's like saying email was bad since none of the people you know have an email address.

Just wait and see which solution will come on top.

I'm sure people compared Cuecat to email too. Turned out the problem wasn't "lack of adoption yet".

I mean, you could also send me fee-free payments direct from your bank with rapid settlement if I had a Euro bank account. I don't, but the reason isn't because I can't but because I don't need or want to hold non-domestic currency - exactly the same reason why I and most of my fellow countrymen who do have Euro bank accounts don't hold nano. The hurdle is reluctance to adopt universal international currency, not a technical shortcoming of Target2 settlement.

It'll presumably take more than one second to convert it to a usable currency, i.e. Euros.

How often do you need $50k without being able to wait a business day?

Ok, then send me a $0.001 micro transaction. Same deal.

How are you going to convert $0.001 to Euros?

Why is receiving $0.001 a matter of urgency that can't wait until tomorrow?

Funny how this conversation started how crypto is slow and expensive, and now turned into slow and expensive is OK :P.

In a crypto world, you don't need to convert to Euros. Are we in a crypto world yet? No. Will we live in crypto world in the future? Maybe, when it's faster and cheaper ;).

It's a bit of both.

For the common transactions people make, crypto is both slow and expensive. I can Zelle someone instantly, for free. In the EU, Australia, etc., bank-to-bank transfers are similarly instant. I don't know that Bitcoin etc. ever get to totally free in this fashion, and it's probably 99.9% of most people's money transfer usage.

For the uncommon transactions - like the $50k international transfer you mention - slow tends to be OK, and it's likely gonna have some expense either way.

Short version: In contrived scenarios, Bitcoin may come out on top, but that's not likely to convince many people.

How many "common transactions" do people use "money" for?

All "common transactions" use credit (even when you use a debit card). The banks approve transactions quickly, but reconcile those transactions slowly.

It'll be the same for any crypto that takes off but needs to reconcile slowly.

> Why is receiving $0.001 a matter of urgency that can't wait until tomorrow?

I'm not making a value judgement whether this is utopian or dystopian but imagine streaming money. Instead of paying for the use of something in advance and in coarse-grained chunks (driving through a tunnel, running on a treadmill in a gym, watching netflix, parking somewhere, etc...) you'd instead stream money throughout usage. On-demand with continuous settlement for the duration.