> I wouldn't expect it take longer than 30 minutes
It doesn't matter what you expect, you cannot possibly predict the specific circumstances from region to region that could require someone to spend any length of time working on arrangements or traveling. What if you live outside of a city and have to spend 30 minutes driving alone?
> risk is largely removed by meeting in public
Demonstrably untrue. Meeting in public is obviously the absolute minimum precaution necessary when performing any kind of physical exchange, coming armed is even better, but that still doesn't stop people from being mugged in broad daylight. Even if we accept the "largely removed" risk of getting mugged, the reality is that most technologies pose 0 risk of mugging in practical use. There are also many other security risks, especially if you make a large transaction (e.g. you could be followed back to your home).
> If it were as bad as you say, people would not be using it.
Well, most people don't use it, otherwise the prices wouldn't be so high relative to online exchanges. LBC seriously sucks.
> you cannot possibly predict ... specific circumstances
Predictions don't have to account for every edge case, my point is in the majority of cases the transaction should not take long. Longer drive times is the cost for living outside of the city, but I don't see why you couldn't just do the transaction when you do another trip(e.g. commuting).
> Demonstrably untrue. ... most technologies pose 0 risk of mugging in practical use
Escrow would be useful in this case. What technology has 0 risk for mugging? AFAIK you can force someone to perform some transaction at gun point. Followed back to your home is resolved by being aware of people following you, and frankly if you're transacting large sums of money, the types of attacks that are worth doing is immense.
> Well, most people don't use it,
Unimportant, it clearly has a userbase. Prices correspond with risk, doesn't seem unfair, and users are willing to pay for it.
It doesn't matter what you expect, you cannot possibly predict the specific circumstances from region to region that could require someone to spend any length of time working on arrangements or traveling. What if you live outside of a city and have to spend 30 minutes driving alone?
> risk is largely removed by meeting in public
Demonstrably untrue. Meeting in public is obviously the absolute minimum precaution necessary when performing any kind of physical exchange, coming armed is even better, but that still doesn't stop people from being mugged in broad daylight. Even if we accept the "largely removed" risk of getting mugged, the reality is that most technologies pose 0 risk of mugging in practical use. There are also many other security risks, especially if you make a large transaction (e.g. you could be followed back to your home).
> If it were as bad as you say, people would not be using it.
Well, most people don't use it, otherwise the prices wouldn't be so high relative to online exchanges. LBC seriously sucks.