Yeah but that's not some fundamental property of fiat, there can be bitcoin banks that offer protection in exchange for fees/longer waits as well, USD cash doesn't magically have these properties, its a function of the services built on top of it. This is the point where most people would come in and say "How hypocritical! I thought the WHOLE point of bitcoin was instant transfer etc etc and now you've just reduced it to the same as USD". No, that is not the whole point of bitcoin. That's the whole point of bitcoin for some people. The real power of bitcoin is choice.
Today if I want to do an instant transfer it is flat out impossible at certain times. I've been in situations where I needed to desperately get money to an individual past 8PM for an emergency and the feeling was absolutely debilitating having him on the phone and literally having no options because he had no Western Union next to him. I am happy to have tradeoffs, and sometimes choose less security.
To me what is important is the experiment. Just like I wouldn't want to try to make ONE company by trying to pontificate what the perfect P/E ratio should be, but instead am happy to have lots of companies and allowing experimentation and evolution with different monetization strategies, so to I feel that a world of many different freely available currencies would be far more useful in determining good monetary theory than writing tons of papers and then committing our ONE currency to it for decades.
Today if I want to do an instant transfer it is flat out impossible at certain times. I've been in situations where I needed to desperately get money to an individual past 8PM for an emergency and the feeling was absolutely debilitating having him on the phone and literally having no options because he had no Western Union next to him. I am happy to have tradeoffs, and sometimes choose less security.
To me what is important is the experiment. Just like I wouldn't want to try to make ONE company by trying to pontificate what the perfect P/E ratio should be, but instead am happy to have lots of companies and allowing experimentation and evolution with different monetization strategies, so to I feel that a world of many different freely available currencies would be far more useful in determining good monetary theory than writing tons of papers and then committing our ONE currency to it for decades.