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No clue. I just know people who do it.
by mywittyname 5y ago
No clue. I just know people who do it.
- wpietri 5y agoGot it. I mean, I know people who ride unicycles. But for this I'm not interesting so much in "is it possible" as "is it effective and widely adopted".
- mywittyname 5y agoAgree, anecdotes aren't data. But seeing non-tech-savvy people doing it definitely makes me think it's somewhat common. I posted half with the expectation that someone would chime in with some personal experience on the topic; HN has a pretty diverse group here. I found a number of guides on the pros and cons of various international money transfers options, and BTC is often included as an option. I also found some recent (and old!) articles about its use as a remittance system in poorer areas of the world[1]. > Other emerging market central banks in Latin America, India, and Southeast Asia, where remittances make up a significant share of the economy, are in a similar bind. Bitcoin transfers surged in emerging markets last year, as the pandemic accelerated the rise of cheaper, more efficient digital remittance services. [1]https://qz.com/africa/1983610/bitcoin-draws-millions-of-workers-sending-their-money-abroad/ https://qz.com/africa/1983610/bitcoin-draws-millions-of-work...