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I used bitcoin to remit money to another country just yesterday.

by bogota 4y ago

deltree7 4y ago
While losing a ton of money during this process
- bogota 4y ago
airstrike 4y ago
I used PayPal to remit money to another country just yesterday
- bogota 4y ago
martin8412 4y ago
I sent EUR from one bank account in country X to another bank account in country Y the other day. It arrived in five seconds and it cost me less than 1 EUR to transfer 2k EUR.
- ZephyrBlu 4y ago
  I'm assuming this was in the EU and you weren't exchanging currencies?
  - martin8412 4y ago
    Correct.
- bogota 4y ago
  I have also done that. Congrats. Some places it’s easier to move money with bitcoin as even though i can send money directly they have tons of limitations in place around amount that you can send that is very low. Just because you haven’t found crypto helpful doesn’t mean it doesn’t have use cases.
  - martin8412 4y ago
    Well yea, the main use case is crime. You've just admitted to committing a crime.
    - dlubarov 4y ago
      Surely we can think of other reasons they might want to avoid TradFi? Maybe the payment is related to, say, Cannabis, so companies like Wise would refuse to facilitate it [1], legal or not. Or perhaps they've heard the stories of PayPal seizing funds with no explanation or recourse (e.g. [2]), and don't want to roll the dice on that. Maybe they want to exchange currency at the actual market rate, rather than PayPal's 3-4% spread. Or they might not want to wait forever for a two-sided ACH transfer (usually the cheapest option with e.g. Wise), or pay wire fees and still have to wait until Monday morning before a US bank will consider processing the transfer. [1] https://wise.com/acceptable-use-policy https://wise.com/acceptable-use-policy [2] https://arstechnica.com/tech-policy/2022/01/paypal-stole-users-money-after-freezing-seizing-funds-lawsuit-alleges/ https://arstechnica.com/tech-policy/2022/01/paypal-stole-use...
UncleEntity 4y ago
I used the app my internet only bank made to send money to buy a house for cash a few months back, pretty sure bitcoin wasn’t an option.
- bogota 4y ago
  You can buy houses for bitcoin in some places but im really not arguing that bitcoin is the best money to use for every day. I responded to a person who said it had no use case. I use bitcoin multiple times a year for transactions where it works better. And i happened to do that yesterday. It’s crazy how stupid HN becomes at the word crypto. “A non binary view about crypto omgzzz can’t compute!!!”
  - notyourday 4y ago
    No, you are not buying houses for bitcoins. You are using bitcoins that are converted to the currency the house is quoted at and if the amount is greater than the contract price you get the house. It is no different from saying "In some places I can buy houses with cocaine". Sure, if the buyer thinks they can immediately offload cocaine for cash, the buyer might take it. That does not mean that the house is sold for cocaine.

I used bitcoin to remit money to another country just yesterday.

by bogota 4y ago

I used bitcoin to remit money to another country just yesterday.

deltree7 4y ago

While losing a ton of money during this process

bogota 4y ago

airstrike 4y ago

I used PayPal to remit money to another country just yesterday

bogota 4y ago

martin8412 4y ago

I sent EUR from one bank account in country X to another bank account in country Y the other day. It arrived in five seconds and it cost me less than 1 EUR to transfer 2k EUR.

ZephyrBlu 4y ago
I'm assuming this was in the EU and you weren't exchanging currencies?
- martin8412 4y ago
  Correct.
bogota 4y ago
I have also done that. Congrats. Some places it’s easier to move money with bitcoin as even though i can send money directly they have tons of limitations in place around amount that you can send that is very low. Just because you haven’t found crypto helpful doesn’t mean it doesn’t have use cases.
- martin8412 4y ago
  Well yea, the main use case is crime. You've just admitted to committing a crime.
  - dlubarov 4y ago
    Surely we can think of other reasons they might want to avoid TradFi? Maybe the payment is related to, say, Cannabis, so companies like Wise would refuse to facilitate it [1], legal or not. Or perhaps they've heard the stories of PayPal seizing funds with no explanation or recourse (e.g. [2]), and don't want to roll the dice on that. Maybe they want to exchange currency at the actual market rate, rather than PayPal's 3-4% spread. Or they might not want to wait forever for a two-sided ACH transfer (usually the cheapest option with e.g. Wise), or pay wire fees and still have to wait until Monday morning before a US bank will consider processing the transfer. [1] https://wise.com/acceptable-use-policy https://wise.com/acceptable-use-policy [2] https://arstechnica.com/tech-policy/2022/01/paypal-stole-users-money-after-freezing-seizing-funds-lawsuit-alleges/ https://arstechnica.com/tech-policy/2022/01/paypal-stole-use...

UncleEntity 4y ago

I used the app my internet only bank made to send money to buy a house for cash a few months back, pretty sure bitcoin wasn’t an option.

bogota 4y ago
You can buy houses for bitcoin in some places but im really not arguing that bitcoin is the best money to use for every day. I responded to a person who said it had no use case. I use bitcoin multiple times a year for transactions where it works better. And i happened to do that yesterday. It’s crazy how stupid HN becomes at the word crypto. “A non binary view about crypto omgzzz can’t compute!!!”
- notyourday 4y ago
  No, you are not buying houses for bitcoins. You are using bitcoins that are converted to the currency the house is quoted at and if the amount is greater than the contract price you get the house. It is no different from saying "In some places I can buy houses with cocaine". Sure, if the buyer thinks they can immediately offload cocaine for cash, the buyer might take it. That does not mean that the house is sold for cocaine.