[tor-talk] Is there any societal use in Bitcoin?
rm at romanrm.net
Mon Sep 4 15:35:17 UTC 2017
On Mon, 4 Sep 2017 17:04:10 +0200
Jon Tullett <jon.tullett at gmail.com> wrote:
> As it happens, I just recently transferred funds internationally. It
> took 36 hours to clear, at a guaranteed rate. My local bank charged
> about $8 in fees
But that's still within Europe or the like? Internationally on a wider scale
SWIFT transfers tend to cost quite a bit more, around $50 to be expected, and
there's basically a $25 minimum charge due to the way that system is set up.
See the rightmost column:
Also there are horror stories like this:
> By contrast BTC, in the same timeframe, dropped more than 10%. If I'd
> been using it to transfer the same funds, I'd have been massively out
> of pocket.
BTC wouldn't require "same timeframe" of 36 hours to transfer, it can be done
within less than an hour. And with the recent developments in the BTC world,
both transaction speed and cost per transaction will continue to improve.
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