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thenewgreen · 3801 days ago · link · · parent · post: The Advent of Cryptocurrencies: A Reason to Rethink Currency in the 21st Century
That is a good example. PayPal is notorious for holding funds too. If they find anything suspicious about the transaction they can hold the funds in limbo for a seemingly indeterminable amount of time. Even if they find nothing wrong at all they will hold funds for 3-5 days or longer. Think of the amount of interest they earn by floating those funds. It seems insignificant given the $100 you paid the artist, but when you figure there were 500,000 other $100 transactions made that day, the float becomes extremely significant. The amount of hands that touch money between sender and receiver and make money off of the transaction is silly. It will change.