Quote from: Mageant on September 12, 2013, 05:53:50 PM

Quote from: Piper67 on September 12, 2013, 05:41:47 PM

I use Bitcoin to transfer money to my family overseas all the time (literally, at least once a week). I buy them through either Virtex or Coinbase, then transfer them to a localbitcoins.com contact in the city where my family lives and he hands them local currency. I used to use Western Union, but between the ridiculous WU fees and the even more ridiculous exchange rate controls in the country my family is in, I was losing over 40% of the original amount. With Bitcoin the transfer is instantaneous and I lose less than a fraction of 1%.

So how is this not working as a money transfer again?

Can you tell us which country this city is in?

I'd tell you, but then I'd have to send someone after you Grin

Capital and exchange rate controls... been in the news and the forums quite a bit lately.