[ninjacookies]

Originally Posted by pewe

Wiring money from a US bank to a European bank works seamlessly… thousands of people and companies move $500k or more every day across US borders. And into other currencies. And the transaction cost is generally less (and price of execution more predictable) than using an intermediary like crypto.

Now it is true that crypto is useful for people trying to ensure privacy / non-transparency on international transfers and avoiding banking / regulatory system visibility. The legitimate use cases around that in a country like the US for US persons are more difficult to pinpoint, and the abuses concerning to consider. But certainly there are some other countries who do not enjoy the benefits we are constitutionally afforded that wish to have freedoms we often take for granted, and I could imagine being understandable.


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You're not going to be able to send over 100k through most institutions unless you're registered as a business without providing a bevy of requested documentation beforehand...even if you have more than enough money in your account. Mostly because of the new anti-laundering/terrorism laws.

Also, an international wire can take up to a week to process.

BTC's current transaction fees are at an all-time low. You can literally send a billion dollars worth of btc to a friend in Japan for less than $2...which is probably 1/20th the cost if you could somehow convince Wells Fargo to do the same. And it will be in his possession within 15 minutes thanks to the lightning network.


I can understand the black cloud and perception around bitcoin and its dubious uses. But I assure you just as many people have been using physical fiat in nefarious ways involving laundering schemes and to circumvent watchful IRS eyes.