You guys laugh, but in many circumstances, Western Union kicks bitcoin's balls in like an experienced prostitute being manhandled in an alleyway.
The only complaint I have about WU is that the Korean banks are tied in with them (there is no WU branch in Korea that isn't at a bank teller's window), so they really don't like using it for certain amounts, in any certain frequency, etc. One time I went in and they made me wait 3 hours, just to tell me that I wasn't allowed to receive money from that bank branch again until I opened an account, then told me that I might as well just wire it through their bank instead.
Other than that single case in Korea, I think WU is not only better than Bitcoin (no exchange fees, wire fees, loss of value due to market fluctuation, can use credit card, etc) at sending money overseas, why anyone would prefer bitcoin who doesn't already have it is beyond me. Now for people who already hold bitcoins, obviously WU is a step backwards, of course.
The only complaint I have about WU is that the Korean banks are tied in with them (there is no WU branch in Korea that isn't at a bank teller's window), so they really don't like using it for certain amounts, in any certain frequency, etc. One time I went in and they made me wait 3 hours, just to tell me that I wasn't allowed to receive money from that bank branch again until I opened an account, then told me that I might as well just wire it through their bank instead.
Other than that single case in Korea, I think WU is not only better than Bitcoin (no exchange fees, wire fees, loss of value due to market fluctuation, can use credit card, etc) at sending money overseas, why anyone would prefer bitcoin who doesn't already have it is beyond me. Now for people who already hold bitcoins, obviously WU is a step backwards, of course.
Nonsense. I have used Western Union extensively over the years to send money remittances abroad (twice a month for the last 6 years alone) and recently got the whole thing switched to Bitcoin. Not only am I saving money on their insane fees, but if you have to convert currencies, their exchange rates are obscene! Bitcoin and localbitcoins.com has taken care of that.
