Sending $1500 to family (elderly, couldn't use Bitcoin) in another state.
The cost to use Western Union? $138.........So I sent a wire.
On a previous attempt, to the same person, this time I was overseas, they just denied the whole transaction. They didn't even try to justify it. Just denied. Took me a week to send a wire.
Seems like Western Union is making a fortune on people who don't have a bank to send a wire.
Their business model is surely built around the concept of no competition.
Bitcoin is coming, to take all the pain away....
This is a great business waiting to be built, sending money using Bitcoin
Come up with a name, get the payment, buy Bitcoin, which takes 10-20 minutes,, send the payment (10 minutes), convert to local currency (10-20 minutes).
I think it would cost A LOT less than $138, and be much faster than a wire,
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