> How about the fact that the banking system charges huge fees for the use of their networks and technology?
Yeah that sucks. But the only thing that's going to change this is regulation, not non-existent competition.
> Do you mind paying $15 to send money to relatives overseas?
Most of us don't have relatives overseas. And for the most part, if we did and we were sending money over seas, it'd probably be in denominations that make $15 a pittance.
> This is disruptive technology. Credit card companies and international money transfer companies are panicking right now.
This is hilarious and bullshit. Nobody's panicking. I doubt if most bankers even know what Bitcoin is. If they were scared, they'd go to their favorite lawmaker with a quarter billion dollars and tell them to make Bitcoin go away, and guess what? It would - "Silkroad"-style shutdowns would happen to all the Bitcoin companies, the value of bitcoin would plummet and this shanty economy would disappear overnight.
Yeah that sucks. But the only thing that's going to change this is regulation, not non-existent competition.
> Do you mind paying $15 to send money to relatives overseas?
Most of us don't have relatives overseas. And for the most part, if we did and we were sending money over seas, it'd probably be in denominations that make $15 a pittance.
> This is disruptive technology. Credit card companies and international money transfer companies are panicking right now.
This is hilarious and bullshit. Nobody's panicking. I doubt if most bankers even know what Bitcoin is. If they were scared, they'd go to their favorite lawmaker with a quarter billion dollars and tell them to make Bitcoin go away, and guess what? It would - "Silkroad"-style shutdowns would happen to all the Bitcoin companies, the value of bitcoin would plummet and this shanty economy would disappear overnight.