You gave me an example of someone with a bank account on both sides. What I'm saying is most remittances where price is an issue don't have that benefit.
> I already said Bitcoin ATMs have fees lower than the worldwide remittance average of 8.5%
And you were wrong since most bitcoin atms charge 5% per side.
>I am showing you it does. I gave you hard evidence.
Where? You haven't shown any evidence of a comparable service that is actually cheaper.
>No they are not. Do you not understand the market dynamics?
Do you not understand economies of poor towns or that the country receiving the remittances would be a buyers market because of the high sell pressure and low buy pressure causing the spread to be huge?
>A WU competitor who installs a network of Bitcoin ATMs has lower operational costs and overhead than WU
No they don't. They still need someone to watch the ATM and help people use it and it is almost certainly stuck in a store somewhere like every other bitcoin ATM. Hell even the one in Vancouver has to pay someone to sit next to it all day to help people use it and scare off people trying to undercut them.
>Overstock
No we really don't. Bitcoin sales have negatively diverged from their real sales and the divergence is continuing. Even 2 months ago the CEO said on Reddit that bitcoin sales were nothing and he's a huge bitcoin supporter.
Anyhow it's clear we'll never agree and I'm getting bored of going back and forth on the same 2 or 3 points. So I'm going to stop now. Good luck with your investment.
"You gave me an example of someone with a bank account on both sides"
Wrong. I was assuming one side would purchase Bitcoin cheaply on an exchange (eg. the migrant worker in Italy) and the other side (eg. China) would sell on a Bitcoin ATM. So 1% (or less) + 5% of fees which is still less than the 8.5% average of remittances. This is more evidence (again!) that Bitcoin can and does make it cheaper.
"No they don't."
Even banks would disagree with you. Running an ATM (even staffed by one guy sitting next to it) is cheaper than a branch office (which needs employees too). The office has higher costs on all aspects: rent (more square footage), employees (likely more than 1), other utilities, etc.
You look very silly, and alone, to argue that Bitcoin cannot make remittances cheaper. Virtually everybody would disagree with you.
Overstock: come back after they have done 1 year of sales, we will see.
> I already said Bitcoin ATMs have fees lower than the worldwide remittance average of 8.5%
And you were wrong since most bitcoin atms charge 5% per side.
>I am showing you it does. I gave you hard evidence.
Where? You haven't shown any evidence of a comparable service that is actually cheaper.
>No they are not. Do you not understand the market dynamics?
Do you not understand economies of poor towns or that the country receiving the remittances would be a buyers market because of the high sell pressure and low buy pressure causing the spread to be huge?
>A WU competitor who installs a network of Bitcoin ATMs has lower operational costs and overhead than WU
No they don't. They still need someone to watch the ATM and help people use it and it is almost certainly stuck in a store somewhere like every other bitcoin ATM. Hell even the one in Vancouver has to pay someone to sit next to it all day to help people use it and scare off people trying to undercut them.
>Overstock
No we really don't. Bitcoin sales have negatively diverged from their real sales and the divergence is continuing. Even 2 months ago the CEO said on Reddit that bitcoin sales were nothing and he's a huge bitcoin supporter.
Anyhow it's clear we'll never agree and I'm getting bored of going back and forth on the same 2 or 3 points. So I'm going to stop now. Good luck with your investment.