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by ShorsHammer 2252 days ago
Do most people not expect to spend the money eventually? What else are you going to do with it?

Unless you are getting international transfers for the purpose of buying drugs or speculating/trading I completely disagree with this.

Have taken payment for consulting in BTC a few times and would always get it into a local exchange then sell/transfer out within an hour, it's pretty painless when you are all setup with the exchange, fee's on my end come to 0.8% total amount, not capped.

So $80 for a $10k payment in BTC, that's not including the senders fees, exchange movements and time spent. Looking at transferwise now they will do the same $10K from USD to AUD for $80.60

1 comments

My point with Transferwise is also: They are not really transferring money. Whereas with BTC, you have a transaction. With Transferwise, they sum up all their transactions and do larger bulk transactions at the end of each month or quarter or whatever.

So with using BTC, you actually have the BTC when it is transferred. The banking system has to cheat itself to keep low fees and fast transaction times. With BTC, you may wait 10-15 minutes. With Fiat, you would usually wait a day or two. But, you can "cheat" your way through the system.

One way I don't get why people won't support BTC: It is a system where everyone can contribute, see every transaction and improve it. The banking system however is old, slow and deeply flawed. And there is no way of improving it. So yeah, even if BTC would be more expensive and slow, I would still use it more often then not, since it's software, and you can fix and improve software.