4 ms·

Also, thank you for providing fast and cheap remittance payments to poorer countries.

by neb_b 5y ago

colinmhayes 5y ago
> fast and cheap ???
- neb_b 5y ago
  Bitcoin onchain payments are still faster and cheaper than using something like Western Union. The lightning network is even faster and cheaper than that. https://twitter.com/jackmallers/status/1428429890957848591 https://twitter.com/jackmallers/status/1428429890957848591 (tweet text, also includes a video and some more info) "With @Bitnob_official's Lightning Network integration, we now have free, instant, non-reversible remittances of any size to and from the United States, Nigeria, and Ghana. $10 in my US bank account became spendable NGN for @bernard_parah in seconds. Monetary history."
  - f32jhnjk33jj 5y ago
    I don't know a single person who uses bitcoins or a single store that accepts them... and it's very risky for companies due to it's extreme volatility (the price may increase/decrease by hundreds percent within days or weeks)
    - anchpop 5y ago
      How many people do you know that send or receive remittances?
    - neb_b 5y ago
      That's anecdotal. I know many people that use bitcoin every day. Bitcoin is much more useful (currently) to people that don't have access to traditional banking systems that many people take for granted.
      - avaldes 5y ago
        > That's anecdotal. I know many people that use bitcoin every day. Which country?
  - igammarays 5y ago
    The real value is only in the USD and NGN. Using Bitcoin to move the value is only propped by hype-fueled insanity that doesn't need to exist. International banks could easily create an international money-transfer system that would be far more reliable and secure than any decentralized Ponzi scheme. An in fact, such systems do exist - for example I used to earn in USD and spend instantly in other countries using international Visa/Mastercards like Revolut or Wise.
    - neb_b 5y ago
      You are lucky that you had access to those services. In many poor countries the majority of citizens do not have a bank account. Even if international banks created these services (why haven't they done more of this already if it's easy?) these people would not be able to access it.
- fullstop 5y ago
  Not op, but faster and cheaper than services like Western Union.
bongoman37 5y ago
sarcasm? Nobody uses crypto for remittance payments to poorer countries. It is mostly used by rich folks in countries like China to get around exchange restrictions.
- neb_b 5y ago
  That's not true
  - thehappypm 5y ago
    Correct, it's mostly used for money laundering and illegal transactions.
    - beefjerkins 5y ago
      Source?
- kragen 5y ago
  Most people who use Bitcoin here in Argentina seem to be sending remittances to their families in Venezuela.
beervirus 5y ago
>poorer countries That's a funny way of spelling "ransomware criminals."

Also, thank you for providing fast and cheap remittance payments to poorer countries.

by neb_b 5y ago

Also, thank you for providing fast and cheap remittance payments to poorer countries.

colinmhayes 5y ago

> fast and cheap ???

neb_b 5y ago
Bitcoin onchain payments are still faster and cheaper than using something like Western Union. The lightning network is even faster and cheaper than that. https://twitter.com/jackmallers/status/1428429890957848591 https://twitter.com/jackmallers/status/1428429890957848591 (tweet text, also includes a video and some more info) "With @Bitnob_official's Lightning Network integration, we now have free, instant, non-reversible remittances of any size to and from the United States, Nigeria, and Ghana. $10 in my US bank account became spendable NGN for @bernard_parah in seconds. Monetary history."
- f32jhnjk33jj 5y ago
  I don't know a single person who uses bitcoins or a single store that accepts them... and it's very risky for companies due to it's extreme volatility (the price may increase/decrease by hundreds percent within days or weeks)
  - anchpop 5y ago
    How many people do you know that send or receive remittances?
  - neb_b 5y ago
    That's anecdotal. I know many people that use bitcoin every day. Bitcoin is much more useful (currently) to people that don't have access to traditional banking systems that many people take for granted.
    - avaldes 5y ago
      > That's anecdotal. I know many people that use bitcoin every day. Which country?
- igammarays 5y ago
  The real value is only in the USD and NGN. Using Bitcoin to move the value is only propped by hype-fueled insanity that doesn't need to exist. International banks could easily create an international money-transfer system that would be far more reliable and secure than any decentralized Ponzi scheme. An in fact, such systems do exist - for example I used to earn in USD and spend instantly in other countries using international Visa/Mastercards like Revolut or Wise.
  - neb_b 5y ago
    You are lucky that you had access to those services. In many poor countries the majority of citizens do not have a bank account. Even if international banks created these services (why haven't they done more of this already if it's easy?) these people would not be able to access it.
fullstop 5y ago
Not op, but faster and cheaper than services like Western Union.

bongoman37 5y ago

sarcasm? Nobody uses crypto for remittance payments to poorer countries. It is mostly used by rich folks in countries like China to get around exchange restrictions.

neb_b 5y ago
That's not true
- thehappypm 5y ago
  Correct, it's mostly used for money laundering and illegal transactions.
  - beefjerkins 5y ago
    Source?
kragen 5y ago
Most people who use Bitcoin here in Argentina seem to be sending remittances to their families in Venezuela.

beervirus 5y ago

>poorer countries That's a funny way of spelling "ransomware criminals."