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I use it as a currency for years. Especially for large transactions internationally, where my bank asks me+the other party to fees like $30 and it takes 3 days
by jiriknesl 6y ago
I use it as a currency for years.
Especially for large transactions internationally, where my bank asks me+the other party to fees like $30 and it takes 3 days if everything goes well.
In comparison with that, BTC for those years, gave me on average 40 minutes and $1 fee.
This is thirty times better than what my bank provides.
- alisonkisk 6y agoDo you feel bad that you used bitcoin to save $30 instead of speculating on it to make $30K?
- picks_at_nits 6y agoThis may not be the most constructive way to make the point, but this is a feature of any speculative asset. If the market as a whole has a very high confidence it will continue to rise in value, few people will want to trade it for goods and services unless they have no choice or can make even more money from the goods and services than they can from holding the asset. Otherwise, it’s like getting options in a startup and spending them on pizza.
- jiriknesl 6y agoNo. I don't use BTC as a speculative asset. I use it for two things: 1. when it is expensive or difficult to send money to places like Vietnam, post-soviet countries, Iran. 2. some saving in case the shit hits the fan and I will have to survive for a couple of months without TransferWise, Revolut.
- nly 6y agoWhat countries?
- jiriknesl 6y agoRussia, Belarus, Ukraine, Vietnam, Iran
- afavour 6y agoI use TransferWise in those situations. It works great.
- jiriknesl 6y agoI use TW too. But it doesn't work with post-soviet countries. It doesn't work to Vietnam. It doesn't work to Iran.