According to the Dutch central bank, it took several weeks to transport $15 billion, with the aid of the police and military as well as 200,000 kg of bars and coins.
According to the Bitcoin norm, it would cost $3.02 and 10 minutes.
The Dutch central bank reportedly spent close to a month moving assets from the city of Haarlem to the city of Zeist, according to the local business daily NOS.
The Central Bank transferred 200 tons of gold bars and coins from its vault in Haarlem to a brand-new cash settlement center in Zeist over the course of a protracted operation.
The amazing story of a transaction that took place in the Netherlands and lasted for more than four weeks is being competed for by Bitcoin enthusiasts. The national bank, the police, and even the military may need to coordinate their efforts in order to carry out even a simple money transfer between two European cities.
On the Bitcoin network, every transfer would cost a few dollars, but how much would it cost in the traditional banking system?
A proponent of Bitcoin named @VandelayBTC described the difficulties the Dutch central bank, De Nederlandsche Bank, or DNB, encountered when carrying out a typical transfer of money between two vaults.
The operation was carried out carefully and without much drama, and the bank depended on the coordinated efforts of police and military personnel for protection.
Crypto aficionados have drawn attention to the sharp contrast between the conventional system and the bitcoin network, where an identical transfer may be made in under 10 minutes for a little transaction fee.
They made fun of governments and central banks for using a lot of tax payer money without disclosing how much it cost.