The Slow Criminalization of Peer-To-Peer Transfers

Re:The Slow Criminalization of Peer-To-Peer Transfers by mahyarm on Friday June 02, 2017 @06:27PM (#14473754)

I found it useful for lower costs in sending money across country and currency borders.

Someone will reply and say it's not actually cheaper, but what is available for the average joe it is definitely cheaper. It's also faster and more convenient if both sides have bitcoin exchange accounts.

[ Parent | on HN ]

Re:The Slow Criminalization of Peer-To-Peer Transfers by wmf on Friday June 02, 2017 @06:39PM (#14473802)

One may wonder, however, why traditional money transfer is more expensive if it doesn't even require mining. Is it because of regulations by any chance?

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Re:The Slow Criminalization of Peer-To-Peer Transfers by firethief on Friday June 02, 2017 @10:30PM (#14474673)

Regulatory capture. It's not easy to open a competing bank.

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Re:The Slow Criminalization of Peer-To-Peer Transfers by Shorel on Friday June 02, 2017 @08:12PM (#14474142)

Banks have a very profitable spread when buying and selling foreign currencies.

For transfers of money in the same currency... it's just greed, in my opinion.

[ Parent | on HN ]