There is a lot of evidence of the potential bitcoin has for remittance. This doesn't mean that it has been adopted by ALL the migrant workers in the US but if the transaction cost is 0 and the competitor charges 15% its only a matter of time before it is adopted by everyone. The links below only scratch the surface. Aside from the references below most of my previous post comes from on the ground experience in developing nations.
I sincerely doubt there is a formal study showing the exact numbers since there is no incentive for migrant workers (who may be undocumented) to expose themselves for capital flight.
My overall point though is that while you, as an American, may have complete faith in the current financial system there are certainly places in the world where this is not the case. The financial system is global and the US is no longer the biggest player.
I sincerely doubt there is a formal study showing the exact numbers since there is no incentive for migrant workers (who may be undocumented) to expose themselves for capital flight.
My overall point though is that while you, as an American, may have complete faith in the current financial system there are certainly places in the world where this is not the case. The financial system is global and the US is no longer the biggest player.
[1] Krygyzstan https://www.theguardian.com/world/2014/jul/08/kyrgyzstan-bit...
[2] Africa http://www.independent.co.uk/news/business/news/bitcoin-is-b...
[3] Tajikistan https://eurasianet.org/node/68272
[4] General https://riskmagazine.nl/article/2017-09-15-bitcoin-the-perfe...
[5] South east asia http://inc-asean.com/editor-picks/bitcoin-disrupting-southea... https://imgur.com/a/RySeB