The Case For Cryptocurrency: 2 - 3 Week Transaction Time!!
My wife and I run a little SwagBucks operation out of our living room, because -- why not?
It consists of running ads for "swag bucks", which are an internal currency of www.swagbucks.com/ that exchange for $0.01/point when you cash out.
Well, my account reached a high enough level to withdraw, and so we decided to liquidate the swag bucks into a PayPal account.
After spending a frustrating morning simply trying to authenticate 3 different accounts so they could work together, when the transaction was finally verified and began processing, I got this email:
10 - 14 business days???
Are you kidding??!?!?!
Just for context -- for those who don't know -- a "business day" is Monday through Friday, so this email is telling me that it will take at least TWO FULL WEEKS for this transaction to process, possibly three.
Compared with even the slower-than-preferred Bitcoin network, which would take a few hours MAX to process such a payment, this transaction speed is catastrophically slow.
What's the point in even having an online payments system if it would be faster for them to just mail me a check?
Cryptocurrency is the future
This is precisely the sort of thing that leads me to believe that decentralized cryptocurrency is the future of online transactions.
There really is no comparison.
We must support crypto solutions wherever they are available, and seek to develop them where they do not already exist. Because transaction speeds of 2 -3 weeks is simply an embarrassment to humanity at this point -- let's face it.
No better way of saying it. I agree with you in totality that crypto is the way to go but I for see a threat to crypto in the years to come.
i used swagbuck , neobux ... and other buxs back in 2006 its not worth your time at all
Cryptocurrency is the future, it is very convenient to use.
Swagbucks is the worst....tried them out for a bit, and they were just horrible
agree :)
Looks like you picked a good thing to cash out of!
Yes, it is funny hearing people complain about the high transaction costs and slowness of bitcoin.
When, in the real world of the retailer, you pay
And bank transfers and money orders
Crypto-currencies have the banks beat hands down, and they haven't even started yet.