"You gave me an example of someone with a bank account on both sides" Wrong. I was assuming one side would purchase Bitcoin cheaply on an exchange (eg. the mig

"You gave me an example of someone with a bank account on both sides" Wrong. I was assuming one side would purchase Bitcoin cheaply on an exchange (eg. the migrant worker in Italy) and the other side (eg. China) would sell on a Bitcoin ATM. So 1% (or less) + 5% of fees which is still less than the 8.5% average of remittances. This is more evidence (again!) that Bitcoin can and does make it cheaper. "No they don't." Even banks would disagree with you. Running an ATM (even staffed by one guy sitting next to it) is cheaper than a branch office (which needs employees too). The office has higher costs on all aspects: rent (more square footage), employees (likely more than 1), other utilities, etc. You look very silly, and alone, to argue that Bitcoin cannot make remittances cheaper. Virtually everybody would disagree with you. Overstock: come back after they have done 1 year of sales, we will see.