3 ms·
The thing with bitcoin is with the exception of a couple of very valid use cases - the big one being international money transfer (super-easy and super-cheap wi
by ChemicalWarfare 10y ago
The thing with bitcoin is with the exception of a couple of very valid use cases - the big one being international money transfer (super-easy and super-cheap with bitcoin compared to other options) - most of the benefits of bitcoin payment processing are on the merchant side - cheaper processing, no chargebacks, no PCI etc.
Unfortunately, at least for now, bitcoin isn't a popular enough method of payment for the vast majority of merchants to worry about, let alone pass the savings they get from accepting bitcoin on to the consumers.
- joosters 10y agoBitcoin is fundamentally worse for international money transfers - you can't do much with the currency itself, so you end up having to make two currency exchanges instead of one. That's not a way to make FX cheaper.
- ChemicalWarfare 10y agocompared to western union fees and timelines - much cheaper and faster (well, assuming a "normal" ~10 min cycle for 1 confirmation) even with having to buy/sell bitcoin on both ends of the tx.