3 ms·
> Moving large amounts of money I can do this with any remittance company > 24/7 worldwide Table stakes for any remit company > outside of any bank This is
by mvdtnz 3y ago
> Moving large amounts of money
I can do this with any remittance company
> 24/7 worldwide
Table stakes for any remit company
> outside of any bank
This is a con, not a pro. Banks add value and protect your money. They are regulated, insured and backed.
> quickly
All remit companies are instant nowadays (except in USA which has stupidly slow banking)
> low transaction fee
Bitcoin network fees are approximately equal to fees on OrbitRemit, Wise, etc.
> pure P2P
See the "outside of banks" point above.
> and then being able to store it securely
If you do absolutely everything right.
> outside of a bank
See above.
> in your pocket
??
- latchkey 3y ago> Banks add value and protect your money. They are regulated, insured and backed. Which country are you referring to exactly? Or do you only have a US centric view on these things?
- mvdtnz 3y agoI'm not American and have never been to America or held an American bank account. So, no.
- latchkey 3y agoIn Vietnam, the equivalent 'fdic' insurance is about $3k, if you are lucky. Banks also go out of business there, left and right. So when you generalize about the banking system, maybe in whatever your country is, things are rosy, but in so many countries in the rest of the world, things are a huge mess. These are all things that based on your comments, don't impact you. That doesn't mean they aren't valid or that the usecase is moot. Try walking in others shoes for a bit before you jump to conclusions about things.
- deleted 3y ago[deleted]