Topic: BITCOIN IS BETTER THAN WESTERN UNION ? - page 47. (Read 70016 times)

I think it's the other way around, it's Western Union has more features or options that Bitcoin. The only feature I see with Bitcoin is Instant, low fee and Anonymous. Transparent? How can it be transparent when it's anonymous?

Western Union is everywhere and instant if you have complete documents to cash out, they may have higher fees than Bitcoin but that comes with the service.

Well you can't cash out with just bitcoin. you can't compare BTC and western union  as they both work differently.
The western union sender by the way can cancel the transaction so long as he hasn't got a text message from western union about the withdrawal. SO i don't recommend using western union still.

Never tried Western Union but Bitcoin has lots of Features as Instant, Anonymous, Transparent, Low fee etc These feature are enough for taking Bitcoin ranking higher in trade of currency.

 I totally agree with you. I also always use bitcoin then western union because that reason. Low fees is mostly everyone love about that

Even Wester Union is not instant as i know as it needs some minutes to be available on the other side to pick up the cash, but bitcoin sometimes it's better because of low fees (if you use higher fees the tx will get confirmed within 10-20min)

Please read the article, it's very interesting and actually manages to answer many questions here.

"In other words, you could send $100 from the USA to your brother in Japan, and have that money immediately transferred and converted into the japanese Yen equivalent of $100. That’s a 0% commission we are talking about, here."

“Western Union is not in the business of transferring money. They are in the business of storing money in many different currencies in many different locations so that when somebody wants to receive cash on one end they already have the cash on that end without having to incur any costs transferring money. Their cost of transferring money is very small as they have built large reserves of currency in many locations. Their cost is maintaining offline outlets and software for their clients that want to become brokers for Western Union. If Western Union used Bitcoin it would only educate their customers that peer to peer money transfers can be done cheaper without Western Union in the future. Western Union has nothing to gain from using Bitcoin, but everything to lose from others using Bitcoin.”

“I was at money 20/20 in vegas and the western union people are most certainly looking to adopt it. Big companies don’t change course that quickly, it takes them some time, but they most certainly are looking to do that.”

How much fee does this company charge?

This is a three step process, two more steps than the Western Union process.

Bitcoin cant be regulated,it would kill the concept,it just need to be allowed to be traded and pay with it,regulamentacion will kill the bitcoin project.
Several people just send money to their family that wont use those money,they put it at savings,others need to pay bills,but the thing is wu being regulated or not has people involved and have to pay salaries ,and just by doing exchanges they need to profit otherwise those service would be dead.

New Bitcoin Killer App: “FIAT to BTC to FIAT”

Freemit is an app due for release in 2016 that will allow users to send fiat money abroad using the Bitcoin blockchain. John Biggs left “the best job ever”, Chief Editor at TechCrunch, to become CEO of this project. Freemit will automatically “translate” local currency into Bitcoin and then back into the destination country’s local currency in a completely transparent way to the user.

http://cointelegraph.com/news/116044/new-bitcoin-killer-app-fiat-to-btc-to-fiat

in my opinion, it is true that bitcoin is better than WU, because bitcoin very simple and cheaper

If the credit cards also adopt bitcoin in its payment option, there is no need to beat the credit card company. We already have bitcoin credit cards.

I don't see WU as a competitor for bitcoin.
Only CC companies hold a much larger revenue then bitcoin. So beating them in revenue and volume is our main concern.

Banks etc. are not really a competition because for the coming years we need them.

One reason the Western Uninion has high cost is the regulation cost, it has to do lots of verification. When bitcoin is used widely, it will also be regulated, so the cost will be high.

much-needed transfers to third countries and the need for godly relationships to goreham and demand and the domination of the old over the new in his time, had no success, and that is to look at the work bitcoin, though, but we see a significant improvement ( hopefully not at the expense of some other flawed ideas or motives ), but the idea is not affected so swiftly and brightly as we would like and we can, upon closer examination, to see something else, but the fact remains that the form of the relationship between people with this important discovery is stronger although at the time, when bitcoin emerged from his abstraction, is quite good, in my opinion, do not understand why people took only a small part of this feature, failing to understand the essence of the whole, and try again, sometimes creating the vision of neposylnoy for humanity and this technology?

Yeah but if people are aware about the fact that bitcoin is too cheaper as compared to WU then they would surely start knowing and using bitcoins for online transfers, but for that we need to make them aware and let them about the total technicality of bitcoins, and I bet once they start using bitcoins they would never enter the door steps of WU for sure.

As i said ,atleas i think i had dont remember ,bitcoin will need to be at any market to be better then any other service,being just online isnt enought to make people change their minds.

The transaction fee is 0,04534 (0.0001 BTC), But yes you are right. The fees are way cheaper then ANY competitor in this field.
I predict the moment merchants find out and see how dedicated the bitcoin community is, they will try it.

It is then to us, to don't let them regret it.

and it'll cost more if you'd exchange it to your currency,and average it takes about 2% so it depend how much you're sending,but if you dont willing to exchange it,i'd say bitcoin is the best for transferring money

At present, the bitcoin transaction cost less than $0.1. That will save a lot of money for vendors and customers.

Bitcoin is better than not only western union but also than any other similar service.There will be time when people will come to know the benefits of Bitcoin and will quit usage of western union by and by.