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I live in a developing country. I don't see any benefit whatsoever for using a cryptocurrency for digital transactions. I can transfer money instantly to someon
by freddie_mercury 7y ago
I live in a developing country. I don't see any benefit whatsoever for using a cryptocurrency for digital transactions. I can transfer money instantly to someone else's bank account, they just need to give me their name & account number. I've used that to buy lots of things from places that don't accept credit cards.
For people who don't trust banks (my inlaws don't keep any money in a bank because they don't trust it, so they are unbanked) -- I don't see anything about Libra or Cryptocurrencies that is going to make them trust it. "There's some super-complicated math that proves you own this money and no one can take it from you" just isn't the kind of thing that is going to convince my inlaws to trust it.
Libra hasn't released any pricing on their processing fees so it is all vaporware & unfounded guessing right now.