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Re:Ask HN: What was impossible earlier that is easy in the B... by hudon on Friday June 30, 2017 @01:46PM (#14672397)
Remittances have been shown to not actually be better with bitcoin. [1] [2] [3]. I can send 2000 USD to India using TransferWise and they will only charge me 17.84 USD. That is a 0.89% fee using a reliable mechanism and I know my recipient will have their native currency in their bank account within a couple business days. Compare that with opening an account on a US bitcoin exchange, sending money there (time delay), buying bitcoin (exchange fee), opening an account in india (requires verification and linking a bank account), sending the bitcoin over (time delay), converting the bitcoin to rupees (time delay, exchange fee, volatility risk), then sending the money to the bank (another time delay).

[1] https://medium.com/cryptonight/bitcoin-doesn-t-make-remittan...

[2] https://bitcoinmagazine.com/articles/rebittance-startups-agr...

[3] https://www.saveonsend.com/blog/bitcoin-money-transfer/

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