Ok, so you know a person, a son or daughter a relative and they need cash
$400 via WU is what?
I think it's 10 bucks or more to be 'instant' which is 15 mins or so
Paypal
If sender sends form their bank it is zero, person then can get instantly at ATM usually 4 bucks fee 3 to atm and 1 to pp
Ok, and what if instead of $400 you have to send $4000, the fee will increase with the amount and it might increase more in future, which will remain minimum with Bitcoins and you're forgetting the most important part, you don't have to rely on a third party to send your money, with bitcoins you can send it straight to who ever you want to.
Bitcoin
Well both have to have wallets
Sender has to have at least 400 worth of btc to send, if not it takes 3 days or so to 'fund' the wallet via bitpay and that costs 12 bucks or so
Once wallet has btc, it's nominal to 'send'
When receiver gets it
They got btc not cash, now let's see how to get it out
Find a local and hope you don't get killed over $400 bucks and pay what 5% or 10% or 20%
Receiver has bitpay too, so then what transfer to a bank to withdraw and that's 3 days or more and then what are fees
At this stage to send money INSIDE USA I don't see btc as a viable way to actually do a minor task
But if sending outside USA, then it may have some advantages
Just saying in this thread, compare apples to apples and try to see how viable it is to USE BTC to send someone money they can turn into fiat
It's not developed YET to do that instantly and cheaply, so that may be a real area for people to figure out how to do this, and yes the so-called ATM BTC machines may help but right now they don't really exist in any number inside USA, but maybe in some other areas they do
I think in UK it may be more viable since btc has caught on in UK and EURO more, or am I wrong with?
Just saying, let's see how to IMPROVE btc to give people a reason to use it to do a simple job that WU and PP do pretty well right now and quickly
BTC is still an early stage and at this point of time the only expensive part of using bitcoin is converting it to fiat and vice versa but when it gets accepted everywhere, you won't be required to convert it back and forward and then the fee to buy bitcoins will also be reduced and instead of buying small amounts everytime you need to use, people will keep their funds secured in a cold storage rather then relying on Banks.