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> Exchanging between bitcoin and another currency also imposes a fee, so that is not an apples to apples comparison. No, but exchanging Bitcoin for fiat is a l
by aianus 9y ago
> Exchanging between bitcoin and another currency also imposes a fee, so that is not an apples to apples comparison.
No, but exchanging Bitcoin for fiat is a lot cheaper in my experience than fiat-fiat. 0% - 0.5% vs 1.4% - 3.0%.
I'm not sure what the rest of your post has to do with Bitcoin vs. PayPal for personal remittance. I don't think Bitcoin is a good currency, but it's great at medium value and cross-border remittance applications and I've used it successfully many times in that capacity (I used to be a digital nomad).
- nwah1 9y agoThe relevance of the second part of my post was that it is as unrealistic to expect everyone in the world to adopt bitcoin as it would be to expect everyone in the world to adopt the Euro. And thus, relatedly, that currency exchanges would still be needed constantly under any circumstance. If it is cheaper to exchange from bitcoin to fiat than from fiat to fiat, that would be interesting. I would tend to question whether it is a tax issue. Ordering from Amazon used to be much cheaper too, but nowadays it has been collecting sales tax. My understanding is that, for Bitcoin, this process of being made to play by the same rules has already begun.