Yep, they should just stick with the current system of 3-5 day transfers, giving over all of your personal information, and being subject to freezing&#x2F;closure at the whim of authorities with no due process.<p>Bitcoin transactions rarely take more than 30 minutes, including peak times, if you apply a sufficient network transaction fee (right now equiv. to $0.05). It cannot be &quot;arbitrarily&quot; reversed. RBF is not even in production, and if&#x2F;when it is, it&#x27;s is a separate type of transaction that is optional and marked as such.  China does not control bitcoin, yes they perform most of the mining but it&#x27;s because China is huge, has cheap electricity, and produces mining hardware. There are a lot of independent actors involved and if there was foul play (which there has not been any evidence of) the network could route around China without too much disruption.<p>Bitcoin is not perfect and it&#x27;s still in its infancy, but it is improving and it is still more censorship resistant and decentralized than any other form of money.