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If you're in good standing with the various governmental authorities, what are the scenarios that make it worthwhile to convert to some cryptocoin, "send a tran
by canoebuilder 9y ago
If you're in good standing with the various governmental authorities, what are the scenarios that make it worthwhile to convert to some cryptocoin, "send a transaction," then convert back on the other end? There are traditional channels for sending money to various places, what do these extra steps get me?
You may feel a $20 fee is negligible, how about a 1% price move? 10%?
It's funny how often one sees these sort of high-dollar scenarios described for this "decentralized"! "currency of the people"!
Like, sending million dollar wires is a fairly niche market, and to my knowledge people regularly engaging in such things seem to be getting along just fine, there not crying out desperately for a better solution. And how exactly is bitcoin better for doing this if your million dollar transactions don't consist of the spoils from an exchange hack, exit scam or the like?
It's just a very reliable network for sending very big transactions.
Do you think the traditional channels for sending million dollar wires are unreliable? This seems like an area where the market is likely to converge on the very most reliable options and any service provider in this area with even a hint of unreliability would rapidly fade away.