JayJuanGee
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How much alt coin diversification is needed? 0%?


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January 25, 2016, 09:21:55 PM


4c is high.

High? Are you high? Cheesy Compared to any other alternative (banks, visa, mc, paypal, western union, swift) it's the lowest you can get. Even an sms will cost me 0.12 euro and if I send it globally it might cost me half a euro.

Mail -> Email
Visa -> Bitcoin.

Stamp->49c Email->marginal cost
Visa->0 cost to customer, BTC->?

Do the maths.

And comparing SMS? LOL, a horrendously overcharged item enabled by government granted monopoly... Are *you* high?


Richie..... I think to be objective, you gotta concede a bit on your rendition of the cost(s) of credit cards.  We cannot calculate costs from only one side of the transaction.... Credit card transactions are generally at least 2%... and frequently closer to 5% by the time you add all the various charges on merchants.

Expanding the topic a bit into bank transfers:  In recent times, I have come across quite a few bank transfer services that are free between customers of the same bank or with minimal efforts to set up sending and/or receiving accounts.  However, really, are those services free?  Frequently, they can take 1-5 business days to clear, and also banks are rarely paying any meaningful interest rate on the money that they hold for you (as they had in the olden days).  In this regard, banks are providing some purportedly "free" services, but they are getting use of trillions (or at least billions) of dollars without paying any interest rates.

My point is that I think that we should really consider whether a transaction is free, such as using our credit cards..... when we are comparing the current and/or upcoming costs of using bitcoin.