Obviously there's a massive benefit to using bitcoin to send money around the world or even domestically, but you will still need to find someone to exchange the btc for cash so you need to factor that fee as well. What would be the easiest and cheapest way for a novice to sell their coins for cash with minimal fees?
Well you could try use Localbitcoins or even this site and for cash or bank transfer or whatever medium you wish for, but hopefully eventually there will be kiosks or shops that will give you cash for your coins. Maybe bitcoin will have its own Western Union but with cheaper fees etc.
That is pretty awesome.
But lets not forget, if you and your friend are trying to move USD, you will get fees from USD -> bitcoin. And then get fees again from bitcoin -> USD. So while moving the bitcoin is way better, the moving in and out of fiat sucks. Still, with a company like Coinbase, that is only 1% each way and will still be way cheaper than Western Union.
And as we know in the future those fees will go down, and the need to move in and out of fiat will go down. But really Bitcoin just isn't there yet.
Which fees? I don't think mining fees will go down but the opposite eventually.
