I mean, you could just as well say Bitcoin isn't actually transferring money, it's just changing whose private keys are able to move a token around. If you define "money" as something you can pay your rent, taxes, and grocery expenses with, Coinbase and the exchanges are the ones that really settle that into money.

Yes, but it's so easy to bring up as an argument...

Bitcoin is no longer censorship resistant. From the US Government alone being able to track and prosecute domestic and international criminals using Bitcoin such as Ross Ulbricht [0] or the BTC-e founder [1], to censoring bitcoin addresses [2] , and there being a trend of the centralized Bitcoin miners complying with such orders [3]; that ship sailed a few years ago. "Users" today transacting on the Bitcoin network are implicitly asking permission from Uncle Sam with every transaction they make, since un-authorized use of Bitcoin has become so easy to prosecute.

[0] https://www.cnn.com/2013/10/04/world/americas/silk-road-ross...

[1] https://www.theverge.com/2017/7/29/16060344/btce-bitcoin-exc...

[2] https://home.treasury.gov/news/press-releases/sm556

[3] https://cointelegraph.com/news/slippery-slope-as-new-bitcoin...

> Visa does[n't] need to hold the balance of my account.

Yes they do?

> Visa does[n't] need to or makes available all of my equity worth of assets for me to transfer.

This is a horrifying bug, right? A thing that no person would ever want, and it's so rare that visa would make you talk to a person and raise your limit first, or they'd get more people involved to make sure you're not being coerced because it's such an abnormal thing to do. Lawyers in some cases, just because you're being so silly. But if you REALLY wanted to make a $1b debit card transaction, you probably totally could, just call the visa billionaire line.

> Visa does not custody my assets.

But a regular bank can, and visa will send to and from there with a debit card.

So you think those extra functions do account for all data center power consumption added up?