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Why Trump's Clampdown on Remittances Will Force Mexicans
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Bitcoin - The Currency of the Internet
A community dedicated to Bitcoin, the currency of the Internet. Bitcoin is a distributed, worldwide, decentralized digital money. Bitcoins are issued and managed without any central authority whatsoever: there is no government, company, or bank in charge of Bitcoin. You might be interested in Bitcoin if you like cryptography, distributed peer-to-peer systems, or economics. A large percentage of Bitcoin enthusiasts are libertarians, though people of all political philosophies are welcome.
/btc was created to foster and support free and open Bitcoin discussion, Bitcoin news, and exclusive AMA (Ask Me Anything) interviews from top Bitcoin industry leaders! Bitcoin is the currency of the Internet. A distributed, worldwide, decentralized digital money. Unlike traditional currencies such as dollars, bitcoins are issued and managed without the need for any central authority whatsoever.
Hey all, I have started working on an app/website that does remittances from the US to some parts of Asia and Africa. The way it works is similar to www.rebit.ph: Users who want to send money back home first convert the dollars to bitcoin, then send those bitcoins to the app/website's address, and from there we sell it on the receiving country's local market, and then pay their family/friend in local currency in the receiving country's. What I'm wondering is:
Do we have to get a Money Transmitter License or MSB license or any license of any sorts in the US to do this?
How much would it all cost?
I have read stuff online, but sometimes the advice given contradicts each other
What if we decided to accept dollars (credit cards, PayPal, etc..) from the US person and use it to transfer money abroad? Doesn't that mean we automatically become money transmitters? (Just making sure)
Why I love Bitcoin (remittance to USA from South Korea) Bank=$504 Bitcoin=$568
So I work in Korea but have to send money home every month to pay off student loans. If I use my Korean bank account ,KEB, and my american account, a local bank near my old house in MI, it cost me 18,000won from KEB, $12 from my local bank, and some $20 mystery fee. No idea where it goes. I just sent money home using bitcoin. I opened a Korbit account and transferred money to that bitcoin exchange. I bought 596,250won worth of bitcoin ($553.10) at an exchange rate of 1078won/dollar(KEB rate) which was 2.65 bitcoin. I also have a circle and coinbase account but I learned I get a better price with Circle.com, so I used them this time. When it entered my Circle account, 2.65 bitcoin was $568.77. Since they don't have a charge I will end up with 568.77 in my bank. I know this is what i'll get because I did this last month as well) Compared to KEB(Korean Exchange Bank-Local bank) I would get 596,250won-18,000won(KEB bank fee)=578,250/1078(KEB exchange rate)=$536.41 536.41-$12(local bank fee)-20(other hidden fee)=504.41 So using bitcoin I end up with $568.77 using bitcoin in my account. Using KEB bank I get $504.41 WINNER BITCOIN by $64.36 The only thing that sucks was opening the accounts and having to log on a few times to transfer the money and bitcoin. FYI other times I used bitcoin it wasn't as good but I have always come out better than using the bank. Right now the exchange rate and the differences in price of bitcoin were in my favor as well as the volatility of price didn't change too much.
We had a phenomenal 2014 with our Bitcoin Remittance service, exceeding all our expectations in user and volume growth. In response, we've decided to remove our 1% fee altogether. Pay ZERO fees for international money transfers using Bitcoin to almost any Bank in the Philippines.
Hong Kong-based Bitspark Limited, a bitcoin remittance company, has announced a new partnership with Malaysian Vitaxel Group. Vitaxel Group, which specializes in multi-level marketing, has more Blockchain remittance companies provide instant money transfer services. Remittance Firms: Abra. Africa relies heavily on remittance payments. Until recently, large financial firms, such as Western Union and MoneyGram, dominated the market. This changed when blockchain remittance companies began to spring up across the continent. The remittance market has, in the past years, attracted a large number of bitcoin start-ups. Huge in size, involving more or less every country in the world and with some very large and established incumbent player charging high fees, it looked ripe to be disrupted by the promise of a decentralised, almost free and instantaneous way to move funds across borders and currencies. The US White House is reportedly planning to target remittance payments made by illegal Mexican immigrants in an attempt to curb the inflow of illegal If Trump's new proposal to curb remittances is passed, Mexicans in the US may turn to alternatives such as Bitcoin. Bitspark, a bitcoin remittance company based in Hong Kong, is offering services to send money to countries like the Philippines, Indonesia and Vietnam. It offers a cloud-hosted solution for MTOs
Duncan Goldie-Scot: Bitcoin and Remittance Payments in Kenya
What is Bitcoin? And Why Should I Care? - Jeremy Allaire @ MIT Bitcoin Club - Duration: 54:31. MIT Bitcoin Club Recommended for you Why Bitcoin is a Better Way to do International Money Transfers - Duration: 3:11. Coin Republic 21,196 views. 3:11  How Big is the P2P Remittance Market? - Duration: 3:09. Mr. Luis Buenaventura, started working in the Bitcoin space in 2014 and, with his startup Bloom (https://www.bloom.solutions), focuses on bringing the blockchain to remittance businesses around ... Bitcoin Hit $9,500, Bull Run Hype, Infinite Money, 50% Of Ethereum, XRP Remittance & EOS + Bitcoin The Modern Investor. Loading... Unsubscribe from The Modern Investor? Duncan is the co-founder of BitPesa, a Bitcoin-fueled remittance startup in Nairobi.