BITCOIN IS BETTER THAN WESTERN UNION ? - page 62.

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Quote from: danherbias07 on October 24, 2015, 12:28:36 PM

I asked someone who sends money using western union almost like every month. He sends money to his relatives from far away.He said its like 10 percent of what you send is what you will pay for sending but the higher the amount you send the lower the percentage. So all we have to do is send a million money so no percentage will be taken. Grin

higher amoount lower percentage is totally bullshit , imagine they took 10% of 100$ = 10$ compared to 5% of 1000$ =50$ LOL ,western union is totally suck

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Quote from: Amph on October 25, 2015, 03:04:24 AM

Quote from: mtnsaa on October 24, 2015, 03:32:52 PM

You can all hate Western Union all you want, but the problem of high fees will remain if you need to establish a local exchange office for Bitcoins.

It's all good but if you are in the US or Europe and send Bitcoin to your familiy let's say in Colombia, they can't spend it and as far as I know there is no easy local exchange where you can go. This is where Bitcoin fails time and time again, if this service was profitable and useful for both parties Bitcoin growth will be unimaginable.

well but you knwo that this is true only, because bitcoin is not widely accepted everywhere yet, this will change in 10 years at max, at that point at least 1 big shop in every country will accept bitcoin

there will be no reason to use fiat for aborad transaction, as they are very expensive, no matter what you choose

Yes and many people havent found out bitcoin yet. If only they would know they might be using bitcoin rather than western union.

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Quote from: mtnsaa on October 24, 2015, 03:32:52 PM

You can all hate Western Union all you want, but the problem of high fees will remain if you need to establish a local exchange office for Bitcoins.

It's all good but if you are in the US or Europe and send Bitcoin to your familiy let's say in Colombia, they can't spend it and as far as I know there is no easy local exchange where you can go. This is where Bitcoin fails time and time again, if this service was profitable and useful for both parties Bitcoin growth will be unimaginable.

well but you know that this is true only, because bitcoin is not widely accepted everywhere yet, this will change in 10 years at max, at that point at least 1 big shop in every country will accept bitcoin

there will be no reason to use fiat for aborad transaction, as they are very expensive, no matter what you choose

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Quote from: Quantus on October 22, 2015, 05:24:58 AM

I want to play devil's advocate on this.

This is misleading at best. It dose not take into consideration fees the sender might have to pay to get into the blockchain when dealing with a large number of inputs.

Not all transactions are free nor should they be, fees will go up over time as the block reward is reduced.

Nor dose it take into consideration the time it takes to set up and verify an account with a 3rd party money transmitter (exchange) or the fees those 3rd parties charge for their services.
It dose not take into consideration the chance of said exchanges going belly up or getting hacked, this chance is low but its higher then zero.

People need to stop thinking of Bitcoin as a service and more like a tool.
Currently it is VERY hard to buy bitcoins at a fair market price with low fees. The difficulty of buying bitcoin especially for a new avid user is time consuming and costly.

And finally if were being truly honest with ourselves in most cases the bitcoins will be converted back into cash on the other side and require more 3rd parties taking a cut.

Currently its still faster and cheaper to use Western Union when sending small amounts of money, say... $50; prove me wrong.

What ever the ultimate price is, its sure as hell not one cent.

Exactly, like I said if local bitcoin exchanges services were available and cheap then western union would be dead and Bitcoin will be king, this is a huge market. The problem is that many here are just blind and deaf to many Bitcoin shortcomings (I know many are not actually Btc fault). It's incredible difficult to buy and sell for the common people. Plus there are fees to do that of course, so it's expensive, even more than WU considering the whole process. To sum it up, a big hassle to explain to your dad overseas.

Bitcoin tech is amazing, unique and innovative but it is still under development. It just can't find a niche to excel and become the world standard in that area.

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Quote from: Quantus on October 24, 2015, 03:48:00 PM

Quote from: erikalui on October 24, 2015, 03:35:51 PM

For me, it's only because Western Union charges a huge fee for all transactions and they convert the currency and send it unlike Bitcoins which usually have no fee attached to the transactions and at times, the fee is less than $0.5 which is affordable. For my country, WU transfers are not allowed which is damn frustrating and I can only receive money via WU and not send. Bitcoins can be sent anywhere and everywhere irrespective of the country of the receiver.

Bull shit over two million Americans still use dial up internet in South Africa its worse the only connection to the outside world for most people is threw a $25 flip phone.
You can't run bitcoin on a $25 flip phone you have to use 3rd party services that charge a arm and a leg. The system building up around bitcoin is bleeding us dry.

You can easily use an online wallet to manage your funds. You don't necessarily need a internet connection to relay transactions, you can give it to the receiver to broadcast it him/herself even though there can be risks.

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Quote from: mtnsaa on October 24, 2015, 03:32:52 PM

You can all hate Western Union all you want, but the problem of high fees will remain if you need to establish a local exchange office for Bitcoins.

It's all good but if you are in the US or Europe and send Bitcoin to your familiy let's say in Colombia, they can't spend it and as far as I know there is no easy local exchange where you can go. This is where Bitcoin fails time and time again, if this service was profitable and useful for both parties Bitcoin growth will be unimaginable.

Then, there's no choice than use Western Union if you send bitcoin to someone who lives in country where there aren't any exchange.

But, i disagree with high fees when sell bitcoin at local exchange.
Most exchange now have low fees so they can attract more bitcoiner.
Local exchange in country have low fees, even they don't have any serious competitor.

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For me, other than fee, bitcoin is better which allow transfer to be done anytime and you do not need to get into a long queue...

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From the perspective of fees, yeah. BTC is way better. But I'd wager that WU is a safer option. If you put 1 character wrong in an address....well, say bye bye to your BTC

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In my opinion i like bitcoin than western union. Because bitcoin is very useful for me

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Quote from: Quantus on October 24, 2015, 03:48:00 PM

Quote from: erikalui on October 24, 2015, 03:35:51 PM

For me, it's only because Western Union charges a huge fee for all transactions and they convert the currency and send it unlike Bitcoins which usually have no fee attached to the transactions and at times, the fee is less than $0.5 which is affordable. For my country, WU transfers are not allowed which is damn frustrating and I can only receive money via WU and not send. Bitcoins can be sent anywhere and everywhere irrespective of the country of the receiver.

Bull shit over two million Americans still use dial up internet in South Africa its worse the only connection to the outside world for most people is threw a $25 flip phone.
You can't run bitcoin on a $25 flip phone you have to use 3rd party services that charge a arm and a leg. The system building up around bitcoin is bleeding us dry.

Technically not true there are services that can relay through a smart phone to flip phones using SMS
The problem is that adoption of those technologies is still low and even 37coins failed however other services have come in to replace them.
http://www.smswallet.com/

At the time of our launch, few bitcoin services actively catered to the underbanked and unbanked. Fortunately that is no longer the case. There are now many amazing bitcoin companies like BitGive Foundation, coins.ph and ChangeTip that deserve your support.

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Quote from: CrimBit on October 21, 2015, 01:40:42 AM

https://fbcdn-sphotos-b-a.akamaihd.net/hphotos-ak-xap1/t31.0-8/12141105_10156131488215261_7783989797081149052_o.jpg

These thieves must have been lost their minds Cheesy

5$ fee up to 50$ means %10 fee for this ridiculously small amount of money transfer. I can't believe how people still don't use Bitcoin. Western Union and Paypal can go fuck themselves. We have Bitcoin people! We have Bitcoin since 2009! Hail Satoshi.

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Quote from: Quantus on October 24, 2015, 03:48:00 PM

Bull shit over two million Americans still use dial up internet in South Africa its worse the only connection to the outside world for most people is threw a $25 flip phone.
You can't run bitcoin on a $25 flip phone you have to use 3rd party services that charge a arm and a leg. The system building up around bitcoin is bleeding us dry.

If you read my statement, I was talking about sending and receiving bitcoins and not running bitcoins. If one has a blockchain wallet, he/she can send/receive bitcoins anywhere and coinbase is a wallet for US citizens that allows them to withdraw bitcoins to a US bank as well. I don't think any wallet is country restricted unlike PP.

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Quote from: erikalui on October 24, 2015, 03:35:51 PM

For me, it's only because Western Union charges a huge fee for all transactions and they convert the currency and send it unlike Bitcoins which usually have no fee attached to the transactions and at times, the fee is less than $0.5 which is affordable. For my country, WU transfers are not allowed which is damn frustrating and I can only receive money via WU and not send. Bitcoins can be sent anywhere and everywhere irrespective of the country of the receiver.

Bull shit over two million Americans still use dial up internet in South Africa its worse the only connection to the outside world for most people is threw a $25 flip phone.
You can't run bitcoin on a $25 flip phone you have to use 3rd party services that charge a arm and a leg. The system building up around bitcoin is bleeding us dry.

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Quote from: zencomp on October 24, 2015, 03:17:03 PM

Quote from: danherbias07 on October 24, 2015, 12:28:36 PM

I asked someone who sends money using western union almost like every month. He sends money to his relatives from far away.He said its like 10 percent of what you send is what you will pay for sending but the higher the amount you send the lower the percentage. So all we have to do is send a million money so no percentage will be taken. Grin

same thing i asked my friend who is staying in US asked him and he told the same , then i told him about bitcoin and its benefits and then he researched and opened an account and then last week he sent some money through bitcoin and his family received the money with out paying any fees. and now he is using it bitcoin more and he is very thankfull to me.

One dose not simply tell someone about Bitcoin.
How many hours did you spend setting up all the 3rd party accounts and how many hours did you spend walking his family threw how to use bitcoin and helping them set up their accounts with 3rd parties? What 3rd parties did he use to buy Bitcoins? Did he use a full node client or a web wallet? Dose he know how to back up his wallet and did he tell his family how to back up their wallets and not to trust 3rd party wallet providers. Did you properly bless them into the Bitcoin religion with the copyrighted anointing oil sold by 3rd parties? How many layers of aluminum foil did the tin foil hat have at the anointing ceremony?

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For me, it's only because Western Union charges a huge fee for all transactions and they convert the currency and send it unlike Bitcoins which usually have no fee attached to the transactions and at times, the fee is less than $0.5 which is affordable. For my country, WU transfers are not allowed which is damn frustrating and I can only receive money via WU and not send. Bitcoins can be sent anywhere and everywhere irrespective of the country of the receiver.

mtnsaa

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You can all hate Western Union all you want, but the problem of high fees will remain if you need to establish a local exchange office for Bitcoins.

It's all good but if you are in the US or Europe and send Bitcoin to your familiy let's say in Colombia, they can't spend it and as far as I know there is no easy local exchange where you can go. This is where Bitcoin fails time and time again, if this service was profitable and useful for both parties Bitcoin growth will be unimaginable.

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Quote from: danherbias07 on October 24, 2015, 12:28:36 PM

I asked someone who sends money using western union almost like every month. He sends money to his relatives from far away.He said its like 10 percent of what you send is what you will pay for sending but the higher the amount you send the lower the percentage. So all we have to do is send a million money so no percentage will be taken. Grin

same thing i asked my friend who is staying in US asked him and he told the same , then i told him about bitcoin and its benefits and then he researched and opened an account and then last week he sent some money through bitcoin and his family received the money with out paying any fees. and now he is using it bitcoin more and he is very thankfull to me.

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I asked someone who sends money using western union almost like every month. He sends money to his relatives from far away.He said its like 10 percent of what you send is what you will pay for sending but the higher the amount you send the lower the percentage. So all we have to do is send a million money so no percentage will be taken. Grin

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Quote from: dothebeats on October 24, 2015, 12:44:31 AM

Quote from: Luqman on October 24, 2015, 12:30:31 AM

Yeah, just waiting for the people realizing that using bitcoin is very useful than WU.. Low fees it's the best feature of BTC

But apparently after receiving the bitcoin remittance from person A to person B, it has to be converted again to fiat to be useful to the receiver since bitcoin alone cannot buy general goods that people need in order to live.

For now - yes, bitcoin need to be exchanged to FIAT. That is another reason we need more shops and services accepting bitcoin.
With direct bitcoin to bitcoin transaction every parasitic service will be soon dead.

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Quote from: funkenstein on October 24, 2015, 06:41:51 AM

Quote from: jt byte on October 23, 2015, 11:53:59 AM

Quote from: funkenstein on October 23, 2015, 11:46:40 AM

Quote from: Amph on October 22, 2015, 02:13:00 AM

Quote from: funkenstein on October 21, 2015, 01:53:37 PM

I prefer to be paid in Western Unions, thank you very much.

so you prefer to lose money on stupid expensive fees? for what for a better security? because you feel more regulated and not evading something

some people feel simply dirty using bitcoin, it could be another reason why they avoid it

Sorry, I think you missed my point. There is no such thing as a "western union" unit of account, which I said I preferred to be paid in. As in, "please send me 100 western unions".

Bitcoin is a unit of account. Western union is a company providing communication/financial services.

Do we also compare Bitcoin to Comcast? Which is better?

The point of the OP is about transaction fees.
So it is much more better to use bitcoin rather than wester union.
Unless the receiver does not know about bitcoin and if can't use it.

You still don't get it. Dollars also have zero transaction fees.

Painting bitcoin as a competitor to western union is misdirection at best.

Public coin allows you to hold a verifiable fraction of the world's supply in your hand.
Fiat coin does not allow you to hold a verifiable fraction of the world's supply in your hand.

Get it?

Soon you will be using western union to send bitcoin, then perhaps you will understand.

uh, the problem with fiat is that it cannot be sent abroad so easily like with bitcoin, this is why there are thing like western union, paypal, sepa and shit like that

with bitcoin you don't need that crap, it work globally without any fee or very small ones

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