Post
Topic
Board Speculation
Re: Pump and dump.
by
saddambitcoin
on 31/05/2014, 22:40:14 UTC
Sorry, bitcoin does solve a problem for the masses! You use bitcoin to easily and securely send money to anyone in the world for very low cost!

Let's examine the competition:

Bank transfer (ACH/wire/SEPA/etc) - 3-4 business days + big fees
Personal check / money orders - mailing time + 3-4 days to clear + small fees (also your mail can be lost by carrier)
Cash - instant + no fee BUT you have to be in the same physical location. or take the risk of losing all by sending cash in mail
Paypal - instant, but expensive fees to receive money (i think like 2-3%). also paypal can freeze your money for whatever reason they want
Western Union / Moneygram - same day transfer + big fees

Bitcoin - instantly received, spendable within 30 minutes to 1 hr. transaction fee of roughly 5 cents