How effective is security captcha ? Do you think it has stood the test of time ? Is there any system which can defeat captchas ?

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If it is not effective, then a lot of people would have stopped using it, even the top security website like binance.com bittrex.com, and powerful websites that are managing huge amount of funds are still using captcha, even till this moment.

So I think that it is robust and it is performing it functions as a top security level in a website, to prevent robot from making use of the platform, in my own opinion, it is still very much effective and it has not been faulted yet at least by majority of people in IT industry.