Soak, dry and cure get confused a lot of times when people talk of finishes.
Linseed, which is from flax which is used to make linen with that crossword and Scrabble word "ret," soaks in fairly rapidly unless it's got high viscosity from additives or cold surroundings, which is why a lot of people like to cut the first coat or two with solvent or even warm it in a double boiler. Thinned oil behavior is why people believe that "Danish" oil hardens in the wood not on it. OK, but not far in.
Oils don't dry, they cure, as others have indicated. The boiled part of the name doesn't refer to an ethanol process, but the process of heating and bubbling the oil as done in the past. Heat speeds most chemical reactions, even exothermic ones like oil cures, and it's the oxygen that provides the cross-links. Take a bit of time between applications to let the oxidation get hold, though if you avoid standing oil you can certainly get by with the old "once a day for a week" rule of thumb. By wiping and rubbing you're not adding much to the surface.
You've probably had experience with the durability and flexibility of linseed as a finish other than the exterior of your house. Linoleum is linseed and matting and sawdust. Since it is flexible and the coats are thin and rubbed, wax is almost superfluous. You get good lustre from the film itself, especially if you've burnished the surface. As mentioned, waxes attract water, oils, as we know, resist and repel. Fortunately, properly done wax is thinner than the oil film.