"Bitcoin: Global Remittance Fees"
By BR (NOSTR only Content)
Bitcoiners when they speak mostly use a shotgun style approach when talking Bitcoin when the precision of a rifle is needed. For today, let's look at Remittance Fees only.
Bottom line, people around Mother Earth, divided by man made lines drawn on mostly static maps, need to send money to each other. Sometimes across those drawn lines. Why should that cost a fee? It doesn't need to. Just like it used to cost billions of dollars for a human to call and speak to another human outside the lines. VOIP (Voice Over Internet Protocol) solved that issue.
MOIP (Money Over Internet Protocol) or Bitcoin the Protocol, solves this too. Especially with Lightning. The savvy are understanding this.
First Remittance Fee, as a Master of the Obvious is the fee people pay to send money from one country to another. To convert from one currency to another, the sender pays this.
Do you know what the average Remittance fee is World Wide?
6.25% or $6.25 USD per $100 USD. That is so ridiculous, on top of inflation, taxes, this is simply a 'fee.' Simply to send money already created and taxed to another human?
Q: How much money annually is spent by humans on Remittance Fees?
A: The 'World Bank' in 2022 projected an annual $630 Billion with many countries this 'fee' (stealing money) is a size able amount of their GDP?
For perspective, El Salvador's annual GDP is $29 Billion which is less than the annual GDP of our lowest US state (ranked by GDP) which is Vermont at $38 Billion.
I know Bitcoin has no Marketing but perhaps it would make sense, instead of being so country focused (can you tell it irritates me?) to be laser focused on specific things Bitcoins solves regardless of where you live on a Bitcoin Globe where no lines are drawn or need to be drawn?
You only need to be human. Isn't it easier to 'Orange Pill' a person who may be upset paying ridiculous fees rather than trying to Orange Pill an entire country?
Rifle versus Shotgun. Precision.
Next Steps:
Best place to learn about Bitcoin/Lightning and "Remittance Fees"?
Jack Mallers/Strike and this should be painfully obvious to everyone on here. https://bitcoinmagazine.com/business/strike-launches-remittances-to-mexico-using-bitcoin-lightning