4 ms·

How about $1 billion? Irreversibly, in 30 mins, for 10 cents? Doubt it.

arcticbull 5y ago
Irreversibly sounds awful lol. However, that aside, how many people do you know with this particular problem? Have you ever run into an issue transferring $1,000,000,000? Has anyone you know ever run into that issue?
wwtrv 5y ago
It depends on your bank, SEPA generally has a limit of €999,999,999.99, so no technically you cant send a full billion…
morelisp 5y ago
SEPA transfers have a 100k limit for instant transfer (much less than 30min, I never timed but I've never seen it even take a full 1min). $1 billion would take a day to clear, but it would still be 100% free. Irreversibility of such a transaction would be ridiculous for all parties involved, of course they don't offer that.
askonomm 5y ago
I always find it funny how the crypto fanboy counter-argument is something so edge-case that it would never happen to 99% of people. So you're saying that to benefit from crypto I should be a billionaire?
- arcticbull 5y ago
  99% is actually generous lol. There's 2,200 US dollar billionaires globally, and if you're sending $1B you probably have at least $2B which is going to narrow down the problem space pretty significantly. However, being generous, that's a problem that 99.99997% of the world cannot by definition have.
  - askonomm 5y ago
    Maybe crypto just isn't for us plebs. On the other hand when I get paid my salary I can be pretty damn sure it still has enough value to be able to pay my bills even a year from now. With crypto I don't think I could even get a good nights sleep not knowing if my money is worth 50% less tomorrow, or 50% more. I also tend to lose things a lot, which with a regular bank is no problem, I just call support and show my ID or what-not, but with crypto I would end up homeless, and those conveniences are very much worth the tiny bank fees if you ask me.
goodpoint 5y ago
Who on earth has such requirement? If you need to move $1 billion, higher fees or slower times are negligible problems.

Irreversibly sounds awful lol. However, that aside, how many people do you know with this particular problem? Have you ever run into an issue transferring $1,000,000,000? Has anyone you know ever run into that issue?

wwtrv 5y ago

It depends on your bank, SEPA generally has a limit of €999,999,999.99, so no technically you cant send a full billion…

morelisp 5y ago

SEPA transfers have a 100k limit for instant transfer (much less than 30min, I never timed but I've never seen it even take a full 1min). $1 billion would take a day to clear, but it would still be 100% free. Irreversibility of such a transaction would be ridiculous for all parties involved, of course they don't offer that.

askonomm 5y ago

I always find it funny how the crypto fanboy counter-argument is something so edge-case that it would never happen to 99% of people. So you're saying that to benefit from crypto I should be a billionaire?

arcticbull 5y ago
99% is actually generous lol. There's 2,200 US dollar billionaires globally, and if you're sending $1B you probably have at least $2B which is going to narrow down the problem space pretty significantly. However, being generous, that's a problem that 99.99997% of the world cannot by definition have.
- askonomm 5y ago
  Maybe crypto just isn't for us plebs. On the other hand when I get paid my salary I can be pretty damn sure it still has enough value to be able to pay my bills even a year from now. With crypto I don't think I could even get a good nights sleep not knowing if my money is worth 50% less tomorrow, or 50% more. I also tend to lose things a lot, which with a regular bank is no problem, I just call support and show my ID or what-not, but with crypto I would end up homeless, and those conveniences are very much worth the tiny bank fees if you ask me.

goodpoint 5y ago

Who on earth has such requirement? If you need to move $1 billion, higher fees or slower times are negligible problems.