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Because in practice services like TransferWise solved this problem using fiat currencies with fees low enough not to make it worth bothering with crypto.

by Nextgrid 10mo ago

nout 10mo ago
For larger amounts it makes sense to use the bitcoin rails for international transfers. I'm doing bank to bank international transfers and using bitcoin saves around 3% compared to Wise and you get the money immediately (or within 1hr, depending on what you use).
- fpoling 10mo ago
  Few years ago I needed to transfer a big sum from a Scandinavian country into Euro. The official bank exchange rate plus fees was worse than Wise’s. But I asked the bank and the bank gave me an exchange rate that was like 0.1% better than one from wise.
  - nout 10mo ago
    Depending on the direction, but there are ways to actually make a little extra on top of the middle exchange rate (e.g. on the USD to EUR path), since there are many people that want to buy no-KYC bitcoin in Europe and they are willing to pay a couple % extra.
ikt 10mo ago
I duno, I still can't make a payment on the net without Visa or Mastercard, still a problem to be solved to me Looks like other people still trying to solve as well: > Earlier this year, Coinbase changed online payments forever with a new protocol called x402. But could this technology really usher in a new age of 'machine to machine' payments? Let's run it... https://www.youtube.com/watch?v=S6wc6yvoZLY https://www.youtube.com/watch?v=S6wc6yvoZLY
- lmm 10mo ago
  > I still can't make a payment on the net without Visa or Mastercard Let me introduce you to the wonders of Discover.
rjdj377dhabsn 10mo ago
Every time I try to use TramsferWise, I end up jumping through KYC hoops for hours - days. Sending crypto is much simpler and faster.
troyvit 10mo ago
Man they don't solve it for me. They charge much more for using a credit card vs a checking account, especially when going across currencies, and I consider it pretty dumb to share my checking account information around when I can control things much more easily with a credit card. And literally any fee they charge is more than what nano charges. It's just that nobody takes nano :(

Because in practice services like TransferWise solved this problem using fiat currencies with fees low enough not to make it worth bothering with crypto.

nout 10mo ago

For larger amounts it makes sense to use the bitcoin rails for international transfers. I'm doing bank to bank international transfers and using bitcoin saves around 3% compared to Wise and you get the money immediately (or within 1hr, depending on what you use).

fpoling 10mo ago
Few years ago I needed to transfer a big sum from a Scandinavian country into Euro. The official bank exchange rate plus fees was worse than Wise’s. But I asked the bank and the bank gave me an exchange rate that was like 0.1% better than one from wise.
- nout 10mo ago
  Depending on the direction, but there are ways to actually make a little extra on top of the middle exchange rate (e.g. on the USD to EUR path), since there are many people that want to buy no-KYC bitcoin in Europe and they are willing to pay a couple % extra.

ikt 10mo ago

I duno, I still can't make a payment on the net without Visa or Mastercard, still a problem to be solved to me Looks like other people still trying to solve as well: > Earlier this year, Coinbase changed online payments forever with a new protocol called x402. But could this technology really usher in a new age of 'machine to machine' payments? Let's run it... https://www.youtube.com/watch?v=S6wc6yvoZLY https://www.youtube.com/watch?v=S6wc6yvoZLY

lmm 10mo ago
> I still can't make a payment on the net without Visa or Mastercard Let me introduce you to the wonders of Discover.

rjdj377dhabsn 10mo ago

Every time I try to use TramsferWise, I end up jumping through KYC hoops for hours - days. Sending crypto is much simpler and faster.

troyvit 10mo ago

Man they don't solve it for me. They charge much more for using a credit card vs a checking account, especially when going across currencies, and I consider it pretty dumb to share my checking account information around when I can control things much more easily with a credit card. And literally any fee they charge is more than what nano charges. It's just that nobody takes nano :(