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You can use western union to send money all around the world without anyone having any accounts on a blockchain or any accounts in an exchange necessary to turn
by daveguy 11y ago
You can use western union to send money all around the world without anyone having any accounts on a blockchain or any accounts in an exchange necessary to turn bitcoin into fiat that can actually use in the destination country.
I would say it is cheaper to send bitcoin, and maybe smoother for two regular users of bitcoin (and who shop online at bitcoin accepting businesses). However, that description applying to any two people is extraordinarily rare.
It is still definitely smoother, but more expensive, to send fiat. The infrastructure is already in place.
- ChemicalWarfare 11y agoI'm not saying bitcoins ecosystem is more evolved than fiat, merely pointing out that it does exist beyond the 'key database' factor as it does allow transfer of value between counterparties around the world. Whether the actual experience of that transfer is 'better' than fiat (WU, Swift, etc) is a different story and yes that would depend on the parties involved.
- aianus 11y ago> I would say it is cheaper to send bitcoin, and maybe smoother for two regular users of bitcoin (and who shop online at bitcoin accepting businesses). In many places it's easier to sign up for a Bitcoin exchange from your couch than to drive to Western Union. I can personally vouch for the US, Canada, and Thailand, where I've had experience with it.