4 ms·

> lagging 4 orders of magnitude behind the capability of credit cards How can you transfer large amounts of money between countries with minimal fees using cr

• ballenf 5y ago
  It's maybe not apples-to-apples, but it's an instructive comparison like comparing the energy consumption of a day of Zoom calls to a business flight.
• oliwarner 5y ago
  About 1% by card with fraud prevention options forced. Spendable money directly into my account. The sender doesn't have to buy Bitcoin first. They don't have to wire it to me. I don't have to turn it back into money (at God knows what rate). Coinbase looks like it would take 1.49%+$2.99 at each end for a large end-to-end. And 1% is expensive. My bank charges a flat £25 for sending internationally. Many other banks and companies charge considerably less.
  • hffftz 5y ago
    > Coinbase looks like it would take 1.49%+$2.99 at each end for a large end-to-end. You should look into other cryptos.... bitcoin is not the one with least fees...
    • oliwarner 5y ago
      Rather than me "doing my own research", you could provide some indicative figures, like I did. It speeds up discussion. But whoever you pick, if you have to buy it with a card, chances are you're going to pay that card processing fee and a withdrawal fee at the other end. However you look at it, it's three transactions instead of one.
      • hffftz 5y ago
        I'm not sure which one has the least fees (which is why I didn't go into specifics).. and it probably changes often... (but Bitcoin isn't one of them). Ideally, an app would pick the best one at the time of transaction? Edit: and just today I had issues receiving a wire transfer from Canada, again, and it was less then $1k (because of my home address)
• dzhiurgis 5y ago
  The amount of people who need to transfer anything more than 10k (let alone millions) per year is so tiny it's a laughable argument.
  • hffftz 5y ago
    I said large amounts, but small amounts might even be a bigger problem...