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Transferwise is pretty friendly and uses real exchange rate + reasonable fees Usually around 1% or less. With Bitcoin, I can send the same transfer for 0.03% -
by woogiewonka 9y ago
Transferwise is pretty friendly and uses real exchange rate + reasonable fees Usually around 1% or less. With Bitcoin, I can send the same transfer for 0.03% - which puts Transferwise to shame and makes PayPal look like an absurd joke. Granted there's much more involved with current volatility of bitcoin but once that gets more stable all of the other options will be a total joke. People who cant't understand the future of bitcoin as remittence are in for a rude awakening.
- pg314 9y agoYou assume that current remittance providers can't lower their fees. That seems dubious.
- patryn20 9y agoThis is based on the assumption that bitcoin will stabilize. I think bitcoin is a flawed first mover. The winner (and future stable cryptocurrency) likely hasn't been invented yet. But I imagine it's mathematic properties will allows for a sustainable transaction rate (i.e.: thousands per second), short (as in sub 2-3 second) final confirmation times, and the ability to execute Ethereum like smart contracts without major security flaws and naive language implementation choices.
- nikcub 9y agoBitcoin has Lightning with non-Turing complete smart contracts which offer better security Ethereum has plasma and raiden with touring complete smart contracts Pick one and build on it - there is no need to rip out the underlying blockchain to achieve what you’re outlining - it exists today