Post
Topic
Board Economics
Re: Thank you Bitcoins .
by
boyshx
on 07/03/2018, 09:59:55 UTC
My country exchange control is the weirdest thing you have ever seen. They are quite comfortable with you importing all sorts of junk from overseas, and paying with your credit card (via PayPal), but receiving money is a problem. Quite the opposite from what one would expect to be rational.

EFT (Interbank Transfer) is probably the best, but there are high transaction costs, so it doesn't work for small amounts - you may have to pay between USD30 to USD50 per transaction, and a fee on this side. There will also be Exchange Control paperwork on this side, you should discuss that with the bank before you go.

But I’m glad that I have bitcoins because I can send bitcoins or received bitcoins in a flash and the transaction fees is very low. You even don’t have to show your identification card like you must do at your bank.


Thats better that somebody is enjoying the rides of bitcoin. Off course this is the reason why bitcoin was created to make the stuff very easy for everyone to transact securely, safely and instantly. The fees are really low for the transactions and they will become almost zero if the scale up issue is raised once more and something different is created other than the segwit. Slowly we will have bitcoin trisections more handy as the new tech is developed day by day. I am hoping that bitcoin should be legalised soon so that we can use direct payments from the blockchain more efficiently. They are already doing great but they are not as efficient as they should have been.