(Replying to PARENT post)
You don't always need to take over the world to be succesful. Its fine to have a niche and just do that really well.
(Replying to PARENT post)
I followed your recommendation and this is what I found: bitcoin might, in theory, work for the purpose of sending remittances, but in practice it doesn't.
So, returning to the original question, can cryptocurrencies offer an innovative solution for migrant remittances to developing countries? Yes and no. In theory, cryptocurrencies can really provide an effective and economical channel for money transfers to help alleviate poverty through remittances. However, there are two principle problems. Firstly, coins such as Bitcoin remain too volatile, in fact ten times more volatile than major currencies (Baur & Dimpfl 2021). This means that if migrants were to use such channel they would be exposing themselves to extreme risks. But, more importantly users of bitcoin may find themselves victims of speculative attacks, as the cryptocurrenciesโ value remains completely speculatively constructed. Secondly, as with international bank transfers, cryptocurrencies need a bank account to buy and sell it. As explained above, having a bank account is not a given and represents a high barrier to entry for many of the poorest migrants.
https://blogs.lse.ac.uk/humanrights/2021/04/29/cryptocurrenc...
(Replying to PARENT post)
(Replying to PARENT post)
How it's being used is a different problem, but it's certainly effective and popular.
(Replying to PARENT post)
(Replying to PARENT post)
(Replying to PARENT post)
https://docs.microsoft.com/en-us/windows/deployment/update/w...
(Replying to PARENT post)
BitTorrent is used in a lot of settings for data distribution and for software distribution. Saying it's just for pirating reveals the author's laziness. Several of these use-cases are listed in the wikipedia page: https://en.wikipedia.org/wiki/BitTorrent
As for crypto, I recommend people read about Bitcoin being used for the purposes of sending remittances to start.