> Yeah but contingencies not predicted in the original contract cannot be added, hence they are immutable from the original design. Something legally not really enforceable as laws change making previously written contracts or clauses void.

This could be a feature or a bug, depending on use case.

> Someone has to double check the financial and legal frameworks are being abided by in transactions of money, specially cross country.

Not really. I think money transfer, especially in the United States, is way over-regulated. But our opinions don't really matter, because crypto is a cat out of the bag.

Maybe you would want to make it illegal to make a peer to peer crypto transaction without a middleman checking it for legality first. I believe that's impossible without outlawing crypto altogether, which is a political nonstarter (though they might be successful at outlawing proof of work only).

> The transaction in ethereum takes however long you wanna pay a gas fee for, the 15 second thing is an average not a median, and certainly not a general use case for smaller transactions.

Since the EIP-1559 fee market change in August 2021 introducing flexible block sizes, the 15 second transaction time is very much a median. Not sure what you mean by "not a general use case for smaller transactions."

> Gas fees are expensive because you can pay to jump the queue, and considering the number of fraudulent transactions, scams etc people are incentivized to over pay to make their quick buck after a rug pull.

No more overpaying in the general case since EIP-1559, since block sizes are flexible now. Blocks can double in size, so as long as the network demand doesn't double within a 15-second period, you can include a fee at the market rate and your transaction will be processed in a timely manner.

Ethereum fees are an open auction market where anyone can bid. If scams can afford to outprice legitimate transactions, then that says something about society, not about the network. The network is impartial, providing service to whoever bids high enough.

> It also reduces security, increses centralisation and increases fees. Certainly a cure-all for a problem created by crypto in the first place.

Proof of Stake increases security, decreases centralization, and reduces fees. It would take a long comment to describe why this is the case with sources, so tell me if you want me to write it up.

Here's the short answer though:

https://vitalik.ca/general/2020/11/06/pos2020.html

> The 2 day to send allows plenty of time to report a transaction, for the goverment to intervene if flags are raised etc. It certainly offers tons of legal protection.

From my understanding, international wire transfers can only typically be cancelled within the first 30 minutes or so, if you're lucky. The payment method offers exactly zero legal protection - it's as if you've handed the recipient cash and they walked away with it. If you send money to the wrong account, or if the recipient does not provide you with the services you purchased, your only recourse is to hire an international lawyer and sue the recipient in whatever country they are in. You can look on your wire transfer form and see disclaimers to this effect.