Though that makes me remember banks require their 3 day processing time and yet, everyone seems to survive quite well. So while such events with the Bitcoin network are indeed bad, what does people do when VISA is down in their favorite store? They either come back a few hours later or pay with cash. Maybe that is a good demonstation that no system should ever replace all existing systems ever.

The reason why you see it as worse now, is because BTC is much more strict on confirming actual funds. Where as banks are bigger and been around so the speed of a transaction can be faster due to essentially trust and the risk limit of the institution. Heck I can put a blank piece of paper in an ATM and pull out cash, usually $100 against that plain paper. The bank will find out in a day or so its not worth anything.

Actually you could with bitcoins, you can email yourself bitcoins. Bitcoins can be in a file, on a usb drive in your pocket to hand over. Now convincing someone that usb drive is worth whatever is a different story. BTW the same issue occurred through history with cash… until it became trusted usually backed by something physical (gold) or someone with money (government).

It wasn’t so pleasant at the fast food restaurant though.
Now try this with BITCOINS.

That doesn’t sound horrifying to you?