> The reduction in fees should dwarf The losses from holding bitcoin.
The propaganda is strong. How much do you think it costs to send money from say USA to El Salvador?
The propaganda is strong. How much do you think it costs to send money from say USA to El Salvador?
It depends on the case
The cheapest way is depositing a check.
Depositing a U.S. check in a Salvadoran bank is free in some banks. The disadvantage is that it is slow
So if you’re sending the minimum amount that’s 4%, but that goes down to 1.5% if you send $600.
So it’s not very expensive and in many situations the transaction fee is less than Bitcoin.
[0] https://www.westernunion.com/us/en/send-money-to-latin-ameri...
Do you see the problem or not?
Also, I'd be curious if you had source about the “every day” part, because I find it pretty unlikely, since it's costly, time consuming (the cheapest way to send money is going in physical stores), and people aren't usually earning money every day …
DING DING DING we got a winner boys!
The problem is that sending in Bitcoin is more expensive than WU.
Ever heard of the LN?
Yes, I’m familiar with LN.
"No one gets paid daily", srsly, you ever been to another country outisde US/Europe?
We are talking about Bitcoin transaction cost, Lighting network has its own issues and tradeoffs.
Bitcoin isn't cheaper than this, because not only there's blockchain fees, but also exchange's, and I'm pretty sure many people use a local broker for managing their bitcoins (at least it's how it works in Lebanon, from what I've read).