Bitcoin is Cheaper and Faster than the most popular Remittance Platforms
For those struggling to find a use case for bitcoin and crypto, look no further!
Critics of crypto have long been saying there is no use case currently for bitcoin and the like.
Blockchain yes, but crypto no.
However, they are forgetting about something very important...
Remittances!
Not only is bitcoin (and other cryptocurrencies) cheaper and faster than the current status quo, but it really isn't even close.
Check this out:
(Source: https://twitter.com/APompliano/status/1105864295928291328)
Look at the massive difference in speed!
It gets worse...
The image above shows how much faster it is to use crypto, however, the real shocker is the cost savings...
It isn't clear what amount of money is being sent in that image above, but many of the services tend to charge a percentage fee.
Meaning the more you send, the higher the fee will be.
For someone sending hundreds of thousands or even millions, the cost savings using bitcoin and crypto is off the charts.
So, the next time someone tells you there are no use cases for bitcoin and crypto, remind them about remittances.
Stay informed my friends.
-Doc
Good post 🧐
Thank you corndog.
Like they say somewhere between apples and oranges, Bitcoin is the best of the worst...
Or is it the worst of the best?
It's like the same difference as between love and hate... Nobody really can tell the difference but clearly there is. Same with glass being half-empty or half-full... Clearly not the same, but what is the concrete difference.
It's all about perspective!
As a coin developer, I have to constantly weigh which core is the best for current demand... Recently it seems that Bitcoin Core is winning and Cryptonote is losing...
Rebasing existing coin on Bitcoin Core is a lot harder than for example rebasing from Bytecoin to Monero, because Bitcoin Core is so much older and there hasn't been any simplification of the code made since the start, so everything has to be manually done in the actual source code and not in single configuration file.
Good stuff, thanks for sharing!
Definitely the low hanging fruit for crypto as it improves in its infrastructure and potential adoption! This is why even JP Morgan sees the opportunity!
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Yep, exactly.
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Thanks.
Steem is not even cheap.
It's free.
How about that?
Yep, steem should be on this last as well. Couldn't fine a graphic with steem in there though!