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> Why can't the family continue to use Western Union They can, but this is a bad remittance channel. > Why on earth would someone in the US send Tether as a r
by davidgerard 5y ago
> Why can't the family continue to use Western Union
They can, but this is a bad remittance channel.
> Why on earth would someone in the US send Tether as a remittance?
Per the article, this is literally the supposed use case that the CEO of Strike puts forward.
> over time El Salvadorans may come to prefer remittances to be sent in Bitcoin and used immediately to pay for things.
It's possible, but the past ten years of bitcoin failing at the merchant use case suggests otherwise. I won't say it can't happen; but given bitcoin's past repeated failure, I'd want to see it happening.
- yownie 5y agodavid are you confusing Strike.org (denominates trades in tether) for Strike.me (bitcoin lightning network) ? Please avail yourself of publicly available sources of information https://www.businesswire.com/news/home/20210605005045/en/Strike-Drives-Bitcoin-Forward-as-El-Salvador-Becomes-World%E2%80%99s-First-Country-to-Adopt-Bitcoin-as-Legal-Tender https://www.businesswire.com/news/home/20210605005045/en/Str...
- b1daly 5y agoNo he is not. The Strike in question is the one run by Jack Maller and the description of using USDT for remittances to ES comes from Miller’s own Medium article. https://jimmymow.medium.com/announcing-strike-global-2392b908f611 https://jimmymow.medium.com/announcing-strike-global-2392b90...
- yownie 5y agoI've addressed this in my reply to david below.
- mech422 5y ago>>It's possible, but the past ten years of bitcoin failing at the merchant use case suggests otherwise Taxes might actually the only 'commerce' bitcoin is good for - fairly high value, low frequency. Bitcoin/Eth are both too expensive/slow to really use for everyday shopping/etc.