How would you invest $1 million into Bitcoin?
Remittances to many of the countries in Africa have the highest transfer costs at nearly 20%, versus 6% for remittances to Asia.
But the recipient of the remittances don't have local exchange agents who will cash out the coins to a local currency.
$1 million might be enough to start onboarding individuals to serve as bitcoin exchangers. Essentially this is simply recruiting, educating and to some degree providing a subsidy (e.g., base compensation) to individuals to provide a service similar to LocalBitcoins.com's network, and then promoting this method as an alternative to traditional money transfer remittance services (e.g., Western Union, Moneygram, etc.). Eventually there will be enough transaction volume where the subsidy is no longer needed, the exchange agents are earning sufficient margins to no longer require the subsidy.
