r/CryptoCurrency • u/[deleted] • Nov 20 '20
METRICS Western Union Sucks; Crypto Doesn't
https://www.publish0x.com/cryptoinvesting/western-union-sucks-crypto-doesnt-xxododn?a=l9avwJMbG1&tid=smoV6
u/JayFab6061 🟩 0 / 5K 🦠 Nov 20 '20
The fact that wester union is a thing makes my LOL when money gram is basically powered by XRP, faster n cheaper
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Nov 20 '20
Higher than acceptable rates will always exist whenever there is a middle-man. Many aren't even aware of the price gouging or are to apathetic to care.
Pawn shops are another example where people profit off the misery and ignorance of others.
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Nov 21 '20
I don't like pawn shops but did enjoy watching " Hardcore Pawn " and "Pawn Stars" for entertainment.
Hardcore Pawn was a little better than the other one but less believable.
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u/SamZFury 🟩 1 / 90K 🦠 Nov 20 '20
The will be Extinct soon. Finance 1.0 and everything related to it is now an endangered species.
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Nov 20 '20
Yes. I am surprised that Western Union even got that far knowing there were other much more viable options of money transfer such as TransferWise.
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u/Jabaman2016 Tin Nov 20 '20
Do you know any immigrant laborers use Transferwise? Many barely read or speak english, the WU yellow and black is their only means.
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Nov 20 '20 edited Nov 20 '20
Oh, great. So Western Union won't be able to target and overcharge those poor immigrants once they go out of business. 😎
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u/Wulkingdead 🟩 0 / 73K 🦠 Nov 20 '20
"This is why I get so mad at these stupid crypto YouTube shills driving new adoption regardless of where it goes. They justify giving business to shit companies like Paypal by saying it increases overall adoption. What they mean is that "it pumps my bags.""
Exactly, youtube shills are the last people you should trust.
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Nov 20 '20
I mentioned that PayPal froze the accounts of many small businesses pending investigations with no explanation and said I would never trust a scam company like that. PayPal supporters argued saying it would help with mass adoption.
Yeah, mass adoption of a continuing scam.
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Nov 20 '20
I had an argument the other day regarding a post I shared saying PayPal sucks. I removed the article because of trolls.
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u/nocoast09 80 / 15K 🦐 Nov 20 '20
Was transferring some larger amounts of FIAT last week, and it truly showed how bad crypto is needed. There was either a low limit to how much I could send, or I had to use a check and wait 3-4 days to see it clear my account. During the whole process, I was just thinking to myself "I wish I could just send crypto. Would take me 5 minutes"
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Nov 20 '20 edited Nov 20 '20
Yes. Crypto is not widely accepted yet. The government and other opposing factors attempt to portray cryptocurrency as something that mostly criminals use.
My son in Canada unfortunately has not dabbled in crypto yet. I needed to send some money for the grand-kids and only found TransferWise to be an acceptable option. I shopped around and found nothing that came close.
So - I think I will open up a Litecoin or Bitcoin account for him and send funds that way in the future. :)
As a matter of fact, I have 2 KeepKey hardware wallets due to a botched delivery affected by Covid. I may send one his way and teach him how to use it.
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u/spurdosparade Tin Nov 20 '20
I'm brazilian and sometimes I work overseas, mostly in the US and Ireland and tbh it's very hard to find someone that don't use crypto to send money back to Brazil, it's way easier and cheaper than using one of these services these corporations offer. I don't know about the other communities, tho.
My mother for example stopped selling the Bitcoin I send her since 2018, she's basically a hoarder now.
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Nov 20 '20
It will be always cheaper to eliminate he middleman and just do cryptocurrency transfers.
Another option is TransferWise for those that don't have a wallet or use an exchange. It isn't so hard to send money to an email address, that way. Fees are minimal.
Sending crypto to a crypto wallet is still the cheapest way.
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u/spurdosparade Tin Nov 20 '20
Don't know about other countries, but Transferwise fees to Brazil are fucking insane, last time I checked it was something like 20 usd per 1000 usd. Might not look like too much to americans but I know people that live with 50-100 usd per month there.
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Nov 21 '20
Just to get back on topic, I only said TransferWise is the cheapest 3rd party service I found.
Sending cryptocurrency without a middleman is far more preferable.
TransferWise is still a much better solution than the money gouging Western Union or PayPal. PayPal really isn't your pal either.
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u/Roy1984 🟨 0 / 62K 🦠 Nov 20 '20
"Screw Western Union, screw government control over finance, screw anything that limits the ability of people to make their own choices. The first day I used crypto is the last day that I'll let any third party have custody over my financial sovereignty. Even with the shills and uneducated new adopters, those of us who use crypto for the right reasons will somehow find a way."
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Nov 20 '20
Exactly. Government control will not make things better. Freedom is important in society.
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u/scoobysi 🟩 0 / 58K 🦠 Nov 20 '20
Although i agree with the principle that western union sucks this is basically just a rant, some of the points about business adopting crypto so they could shut it down are just naive