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I found a good article that you might be interested in: https://www.saveonsend.com/blog/bitcoin-money-transfer/ https://www.saveonsend.com/blog/bitcoin-money-tr
by jcfrei 9y ago
I found a good article that you might be interested in: https://www.saveonsend.com/blog/bitcoin-money-transfer/ https://www.saveonsend.com/blog/bitcoin-money-transfer/ (make sure to read the comments as well for some actual use cases!) Growth in usage for international remittances indeed seems to be minimal. An important takeway from the article is that changes to people's behaviours take much much longer than we usually expect. In the countries mentioned, people still rely on cash agents rather than using the available (and cheaper) online banking tools. A similar story can be observed in e-commerce. 25 years after the invention of the WWW e-commerce has only reached 10% of all sales. A similar development can be expected when consumers are changing their banking behaviours. These things take a lot of time.
Now, regarding actual demand for blockchain assets (outside of speculation): Previous price rallies in 2016 were most likely caused by the Chinese as a method for capital flight ( http://www.zerohedge.com/news/2017-01-02/bitcoin-surges-above-1000-china-unveils-new-capital-controls http://www.zerohedge.com/news/2017-01-02/bitcoin-surges-abov... ). Another recent surge in ethereum prices was caused by more and more ICOs, which use ethereum as way to crowdfund their project. So those two I believe are currently the most important sources of demand: Tax evasion / capital flight and funds raising.