Wow, great. That's only $13.49 more than Bitcoin. Let's see what we get when we click on the ad:
"You’ll save up to 5 times more than other service providers." Jesus! What are the other guys charging?
Still don't think there's a place for Bitcoin?
Friday, October 14, 2011
Send Money Overseas!
I just stumbled across this ad:
Wow, great. That's only $13.49 more than Bitcoin. Let's see what we get when we click on the ad:
"You’ll save up to 5 times more than other service providers." Jesus! What are the other guys charging?
Still don't think there's a place for Bitcoin?
Wow, great. That's only $13.49 more than Bitcoin. Let's see what we get when we click on the ad:
"You’ll save up to 5 times more than other service providers." Jesus! What are the other guys charging?
Still don't think there's a place for Bitcoin?
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As long as Bitcoin remains about a million times less convenient than this, it won't take.
ReplyDeleteIn the United States, it is still quite inconvenient to buy Bitcoins. In Canada, I can get money into the Canadian Exchange as easily as paying a bill with online banking, and it doesn't cost me a cent. That's what RBC is competing with.
ReplyDeleteEverybody talks about PayPal...
ReplyDelete"It's like PayPal, but free!" ...etc.
But I've come to realize that PayPal is a poor analogy.
Skype.
Why did Skype take off? It was because families sundered by borders could talk to each other for free. The largest percentage of Skype early adopters were South Americans with family members who immigrated to the U.S.
By the same token (and somewhat depreciating the silliness of Silk Road), I think cross-border and cross-currency transfer of funds is what will - sooner, rather than later - prove to be the killer app for Bitcoin.
Just as with Skype, there's nothing even remotely in the same ballpark. The technical know-how and hardware requirements for Bitcoin are really pretty analogous to what Skype was, at its beginning. The usefulness of Bitcoin is roughly the same as Skype.
There are certainly valid and important political uses for Bitcoin: donations to disapproved organizations (Wikileaks, OccupyWallStreet, etc.), donations in anonymity, cheat-proof donation recording, and many others.
But sending fifty bucks back to grandma in the old country (or vice versa) is where more effort should be applied. Because that's what people are going to be using.