[neb_b]

Bitcoin onchain payments are still faster and cheaper than using something like Western Union.

The lightning network is even faster and cheaper than that.

https://twitter.com/jackmallers/status/1428429890957848591

(tweet text, also includes a video and some more info) "With @Bitnob_official's Lightning Network integration, we now have free, instant, non-reversible remittances of any size to and from the United States, Nigeria, and Ghana.

$10 in my US bank account became spendable NGN for @bernard_parah in seconds.

Monetary history."

[_xnmw]

The real value is only in the USD and NGN. Using Bitcoin to move the value is only propped by hype-fueled insanity that doesn't need to exist. International banks could easily create an international money-transfer system that would be far more reliable and secure than any decentralized Ponzi scheme. An in fact, such systems do exist - for example I used to earn in USD and spend instantly in other countries using international Visa/Mastercards like Revolut or Wise.

[neb_b]

You are lucky that you had access to those services. In many poor countries the majority of citizens do not have a bank account.

Even if international banks created these services (why haven't they done more of this already if it's easy?) these people would not be able to access it.

[f32jhnjk33jj]

I don't know a single person who uses bitcoins or a single store that accepts them... and it's very risky for companies due to it's extreme volatility (the price may increase/decrease by hundreds percent within days or weeks)

[neb_b]

That's anecdotal. I know many people that use bitcoin every day.

Bitcoin is much more useful (currently) to people that don't have access to traditional banking systems that many people take for granted.

[avaldes]

> That's anecdotal. I know many people that use bitcoin every day.

Which country?

[anchpop]

How many people do you know that send or receive remittances?