News for hackers. Stuff that matters.

A comment on Bitcoin Mining Now Consuming More Electricity Than Many Countries. Parent comment

Re:Bitcoin Mining Now Consuming More Electricity Than Many C... by rsynnott on Wednesday November 22, 2017 @06:40PM (#15761667)
Doesn’t a bitcoin transaction cost a few dollars to put through, these days? There are generally cheaper ways to send money.
[ Parent | on HN ]
Re:Bitcoin Mining Now Consuming More Electricity Than Many C... by Muromec on Thursday November 23, 2017 @03:26AM (#15763692)
Domestically - yes. Internationally - SWIFT is no cheaper really, but comes with some restrictions.

For example I can accept my earned money on account in Ukraine, pay taxes here, but can't send it back to an investment account somewhere EU. This just can't be done.

Even more sillier - some time ago it was illegal to merely have an account in foreign bank without obtaining personal license from central bank here.

So yes, there are cheaper ways and there are simpler things and there was people who were sent to GULAG for doing "illegal money transactions".

[ Parent | on HN ]