5 ms·
That’s not how large transfers work at all though. Banks have international agreements, or go through 3rd parties that have. You’ll also never be expected to pa
by moksly 6y ago
That’s not how large transfers work at all though. Banks have international agreements, or go through 3rd parties that have. You’ll also never be expected to pay right then and there, if you’re a respectable enterprise entity, the other part will expect you to pay and the funds to arrive within reasonable time, which can be half a year later.
As for the transfers themselves, they are typically free. You’re such a big customer to the bank, and so is the recipient to their bank, that the banks are earning their money without taking transfer fees.
The most important part, and the reason things like bitcoin will never replace old school banking, is that you can roll the money back or cancel if you decide to walk away from the deal like Norwegian just did for 90something Boeing aircraft that they can no longer afford because of corona. Sure you’ll spend a few years in legal, but that’s besides the point.
- antepodius 6y agoThat walkback depends on trust, honor, and suability between all actors involved. You can walk back a bitcoin transaction, too, if you have those preconditions. Just ask the other guy to send the money back.
- heisbsissi 6y agoBy that logic you can walk back any transaction that has ever occurred regardless of how it was sent. Bitcoin advocacy just seems like an exercise in sophistry.
- antepodius 6y agoIf you trust the other guy and he doesn't screw you over- yes. Other than that, bitcoin's loosely analogous to cash. You might use it for the same reasons you'd use cash otherwise.
- koonsolo 6y ago> That’s not how large transfers work at all though. Except for the fact that this is exactly how it works today. So you are in the airline industry? You know first hand how airliners buy airplanes. Please explain to me how it happens at your end. Because what I explained is first hand knowledge on how it actually works. (Boeing 787 Dreamliner) You assume, I know.