In it's current state, I'd argue bitcoin competes more with large bank wires than credit card or paypal transactions. Bank wires usually carry a $25 fee and tak

In it's current state, I'd argue bitcoin competes more with large bank wires than credit card or paypal transactions. Bank wires usually carry a $25 fee and take a few hours. Bitcoin, disregarding the relative technical difficulty of it all, is similar. The key thing is that bitcoin transactions are not reported to the government -- very helpful if you're desperate to move a large amount of cash out from a country with heavy currency controls like China or Venezuela.