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I don't see any mention of the hundreds of dollars of fees and car and airplane trips to banks and governmental offices to sign dozens of papers that are necess
by emteycz 6y ago
I don't see any mention of the hundreds of dollars of fees and car and airplane trips to banks and governmental offices to sign dozens of papers that are necessary to transfer between un-allied/distant countries - the exact thing where Bitcoin absolutely shines and is used for that a lot. People say how there's always an alternative without thinking about what that alternative is exactly.
- BlueTemplar 6y agoYes, that's a very good point ! On first order of approximation you can take how much a miner gains on average per transaction (mining+fees), which is probably much easier to calculate than the real cost of the other side (I guess one could check how much Western Union takes ?) Sometimes people compare it with Visa/Mastercard costs, but it's unfair when you're talking about unallied countries, as those benefit from the discount coming from operating at scale in allied countries, and the bitcoin network cannot be consistently shut down without shutting down the Internet itself !