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> removing big banks from large long-distance cash transfers In practice, you need an account with a "big bank" to buy bitcoin. The recipient also has to have
by root_axis 9y ago
> removing big banks from large long-distance cash transfers
In practice, you need an account with a "big bank" to buy bitcoin. The recipient also has to have enough technical literacy and resources to safely convert the bitcoin into spendable money, sometimes at a significant markup. The buying power of the funds are also subject to wild fluctuations for as long as it takes the recipient to convert to usable money. Bitcoin is just not practical for this kind of thing.
- sanderjd 9y agoI tend to agree - this is just the most compelling use case I've heard, despite not being all that compelling.