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Just one example, PayPal is also for peer-2-peer transfers
The World Bank provides a table of remittance fees to El Salvador. https://remittanceprices.worldbank.org/en/corridor/United-St... MoneyGram is free if you do it to a bank account. https://imgur.com/a/6B5G2ax
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The World Bank provides a table of remittance fees to El Salvador. https://remittanceprices.worldbank.org/en/corridor/United-St... MoneyGram is free if you do it to a bank account. https://imgur.com/a/6B5G2ax
Too bad 70% of the population does not have a bank acct there
Perhaps the President should focus on that?
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> the folks with "more money in their pockets" I would argue that the population who can now operate and opt-out of a USD system where their money is being debased by 20%+ in the last year by a foreign government will be quite a bit better off.
> opt-out of a USD system where their money is being debased by 20%+ in the last year You know Bitcoin has taken a 40% tumble in the last month , right?
The US created 20% of all the dollars that have ever been created, ever– last year. This is infinitely more harmful than a reduction in price compared to another currency.
Every day, this is getting more and more ridiculous.
US-protected elections in 3...2...
Almost half the electricity produced in El Salvador is from fossil sources (they don't have nuclear power): https://data.worldbank.org/indicator/EG.ELC.PETR.ZS?location... Option A: invest in that volcano and reduce greenhouse gas emissions. Option B: invest in that volcano and mine bitcoin. B makes them richer so long as other people keep expecting Bitcoin prices to rise (increasing demand), so I can see why they do…
Almost half the electricity produced in El Salvador is from fossil sources (they don't have nuclear power): https://data.worldbank.org/indicator/EG.ELC.PETR.ZS?location... Option A: invest in that volcano and reduce greenhouse gas emissions. Option B: invest in that volcano and mine bitcoin. B makes them richer so long as other people keep expecting Bitcoin prices to rise (increasing demand), so I can see why they do…
This is a false dichotomy. They can subsidize the startup costs for harvesting geothermal energy from Bitcoin mining and then use the geothermal infrastructure to produce electricity for the country.
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> They will literally have more money in their pockets. That's a big if. Bitcoin transfer fees might be cheaper, but you need to add the cost of converting dollars to bitcoin, plus the volatility of the coin, plus any fees from intermediaries and Lightning nodes. > Good things happen when people have more money in their pockets High amount of remittances are not a cause, but a symptom of underlying problems. Would yo…
Sooo… do you think it’s better to have higher transfer fees? Seems like a no-brainer win though? Even if it doesn’t revolutionize the country
There has literally never been a more direct reward for efficient energy production.
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Too bad 70% of the population does not have a bank acct there
That sounds like an easier problem to solve than tapping a volcano to mine Bitcoin. Perhaps the President should focus on that ?
If his actual goal was to improve people's lives, perhaps...