Re:US travel firm $4.5M ransom negotiation open chat
by jey on Monday August 03, 2020 @01:46AM
(#24034560)
The main one I know of is international money transfers (remittances). Usually these have to go through an oligopoly that sets the fees and exchange rates to be favorable to itself. This is the kind of market that's pretty big on the international scale, but it's completely boring and non-sensational to read about a bunch of people who are sending $400 to their moms on a regular basis.
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Re:US travel firm $4.5M ransom negotiation open chat
by yyyk on Monday August 03, 2020 @02:03AM
(#24034636)
As far as I know, nearly everyone uses Western Union (Transferwise etc. etc.) for that. Bitcoin is too costly* and complicated for most people.
* Two set of fees to exchange crypto to fiat + transfer fee compared to one set of fiat currency exchange + transfer fee.
Re:US travel firm $4.5M ransom negotiation open chat
by ehmish on Monday August 03, 2020 @02:14AM
(#24034674)
I recall these services used to be pretty crap, bitcoin added a bit of much needed competition
Re:US travel firm $4.5M ransom negotiation open chat
by sonicggg on Monday August 03, 2020 @11:40AM
(#24039110)
But you're making an assumption here that both the sender and recipient will be using fiat currency in the end, and that crypto is only being used as means to make the transfer. This is not necessarily true.