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by waterlesscloud 4551 days ago
Currently our choice is to pay the fee to the banks for convenience they provide. If it's possible to provide the same convenience without the banks and with much lower fees, is that not an improvement?
2 comments

Does bitcoin actually provide those lower fees?

Hold on, I know you are about to say "yes of course!". But what about the cost of mining? Mining is not analogous to transaction fees, but it is a cost of bitcoin.

Plus indirect fees due to the exchange rate volatility.
The fee isn't just a "convenience" fee. A significant proportion of the 2.5% overhead is fraud insurance.