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How does my post detail that bitcoin owes people free money? I'm just trying to push for a more level playing field.



From what I gather you're attempting a high-volume, low-margin resale "business" and you want to currency to be on a level playing field with forex? Because then you're dealing with more efficient markets (hence won't get free money) and will have to leverage your kidneys just to bring home a few satoshis.


Interesting you mention forex. We get paid commission via Steam each month in USD. Using our banks forex, it costs us a lot in crappy non competitive spreads. Using Bitcoin, we save literal thousands.

We don't actually use Bitcoin for this process because transfer wise is competitive in comparison. But if transfer wise didn't exist, we'd definitely do it that way.

Low level forex might have razor sharp margins, but consumer forex is a fixed rip-off industry.

Another reason I support bitcoin. Free markets should be driving prices down and exist in competitive markets. Consumer forex does not exist in a market with these conditions. Bitcoin is a good mechanism some startups could use to introduce more competition and introduce significantly more value for consumers.


Sorry I think there's been some confusion. Forex refers to the currencies exchange markets, not swapping holiday money at a bureau de change or doing the same through your bank. (As an aside it's pretty straightforward to open a USD account in the UK.) While HN is great and all it sounds like you need to consult an accountant.




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