Who charge upto 15%. Western Union are looking at Ripple. I think Ripple will trade at market cap similar to visa.
I guess. What do you think how much money can they SAVE out of that 32 bucks per month? Maybe 50 cents? Also, does an average Venezuelan understand not just bitcoin wallets but iota transfers? I highly doubt. The point is that the poor will never use this available resources because of lack of in vestable money and lack of the ability to handle the technology.
You'd be surprised.... Take cell phones in India for instance or electronic wire transfers for remittances to Latin America.
OK, let's say even the fairly poor can use these. But what crypto would they choose? If I am starting out today, I would go with LTC (faster, cheaper tx, better return) and not with BTC. I guess this is were rubber meets the road and the real competition shows us which one is the best. Right now BTC isn't competitive. Maybe it has reached the Myspace phase...
I agree to a point...I think we've found ways around the Bitcoin limitations with things like crypto debit accounts, granted the receiver gets fiat instead.
There's also the difference of Venezuelans making money from BTC due to cheap electricity, not choosing it as a payment platform. That's a big distinction. If Visa was paying me $500 a month for some CPU time, you can bet I'd charge everything on it as well.
If you have a second hand smartphone you can download a crypto wallet. Then do localbitcoins.com. Even if you bought a few Satoshi as the Bolivar collapsed then you survived.
When small amounts are used/saved regularly, I guess it boils down to: Does the transaction or broker fee eat up my little investment? Does anybody want to crunch the numbers?