Re:The Merge
by cl1nk on Sunday August 21, 2022 @10:03AM
(#32540292)
It is by far the cheapest and fastest option to send money internationally, fees from using SWIFT are ridiculous and the banks always use terrible exchange rates, I used to lose about ~4% of the money I sent to my family in another country
[ Parent
| on HN ]
Re:The Merge
by noelsusman on Sunday August 21, 2022 @03:10PM
(#32543393)
International money transfers cost money because complying with international financial regulations costs money. Crypto transfers are cheaper and faster because they evade these regulations, which is just a downstream effect of committing crimes being the only real use case for crypto.
To be clear, I don't think it's bad for you to use crypto for this purpose. I would do the same. I just think systems that allow anyone to evade laws are a net negative for society.