I come across this sentiment often, and it's completely ridiculous.
The reason the blockchain is so valuable is because it ensures everyone is on the same page on what happened longer than 1 hour ago. One single double spend is not the problem. It's all the thousands that have happened throughout Bitcoin's history.
Without a blockchain, you'd have no idea of knowing who owns what. You'd never know which of the 2 transactions (from the same output) ended up being selected as "truth". Regardless of whether one agrees with the outcome, they put up with it and move on.
A merchants knows exactly which payments settled and which did not. The rest of the world does too. That's invaluable and that is what blockchain is about.
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from Bitcoin - The Internet of Money https://ift.tt/2y48rS4
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