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Alternatives to Western Union
After being highly amused by a recent thread I thought I'd post about my experiences of using money transfer services to Thailand other than Western Union. I've used three this year - Skrill, PayPal and the newer kid on the block TransferWise
From a security perspective Skrill and Paypal work the same way - you give them access to your bank account via their App. TransferWise has a "cut out" - you have to send them the money from your bank account after you've placed the order online with them. I maintain a bank account in Thailand to which I have Internet banking access so I can see exactly what's going on
My observations (and I stress they're mine, take it or leave it):
Skrill: this worked quite well, you can nominate your base currency and if you stick with that you'll be fine except when you're transferring money internationally. My experience was that they convert the money being sent into Euros and then convert those Euros into the destination currency. Very costly
Paypal: With each Paypal account you can have two bank accounts attached by default - your US one (if you have one) and one for the country where you've registered your account. I didn't want to use my US bank account so it means I have two PayPal accounts - one for the UK, the other for Thailand. I simply send myself money from my UK account (withdrawn by PayPal from my UK bank account - same as Western Union) as "Family & Friends" so the transfer fee is minimal. When it reaches my Thailand account (instantaneously) I accept the transfer and convert it into baht. The exchange rate isn't bad - certainly better than if I sent it direct from bank to bank - and the very low fees are an advantage. The downside is that it then takes around 5 working days from the time I withdraw it from my Thai PayPal account until it reaches my Thai bank account. Why? Who knows. I suspect it would give the opportunity for fraudulent transactions to be stopped
TransferWise: This application is brought to you by the same geeks who invented Skype. I requested the money and was told the probable exchange rate at the time. I had 48 hours (I think) to effect the transfer, during which time the exchange rate could change so I was offered the opportunity to "hedge" or insure against that. As I transferred from my bank to TransferWise immediately, I didn't bother. They acknowledged receipt within a few hours (all by email) and gave me a date 48 hours later by when they said the money would be in my Thai bank account. It actually took a few hours longer, but I put that down to the inefficiencies of the Thai banking system and the time differences. And it was exactly the amount they said it would be. Best of all, the exchange rate was as good as I could get by passing cash over the counter at a branch of Super Rich (who have an App you can download to your phone if you want, giving up the minute rates they're offering against the baht). TransferWise say they're charging an administration fee but for what I was transferring at the time (roughly 10,000 baht) a fee of zero was charged
All three have smartphone Apps. I'd rate the services as follows:
1 TransferWise. Best exchange rate, best transfer time (bank-to-bank); requires more manual intervention
2 PayPal. Second best exchange rate, poor transfer time (bank-to-bank); requires some manual intervention (accepting the payment and withdrawing it to the Thai bank account)
3 Skrill. Lousy exchange rate unless your home currency is Euros; no further comment is necessary
However if you simply can't wait, Western Union with its poor security, high fees and terrible exchange rates is the way to go - take Bucky as your exemplar
I should point out that I use my trusty VPNs (I have several VPN accounts scattered around the world, some hosted by Kommie's Boys) for additional security. I know this will be a huge shock to Surfcrest's IT "guru", cdnmatt, whose complete ignorance of modern-day IT security and how the banks view it still causes amusement. However I'm sure he's a great help to Surfcrest ... somehow
For those who are interested, the emerging security especially for banking transactions is the subject of a leading article in this week's Economist
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Re: Alternatives to Western Union
Probably the wrong crowd for this, but another excellent money transfer service is Bitcoin. No fees to receive funds, no limitations / restrictions, no ID required, no account to open, no KYC/AML hoops to jump through, and a simple ~$0.03 fee to send an unlimited amount instantaneously anywhere in the world.
If you know what you're doing, it's also extremely secure. If you don't know what you're doing, chance you'll get your money stolen, so be careful.
Plus you don't have to worry about things like PayPal freezing your funds for 180 days while giving no reason to do so, and offering no appeal process. You also don't have to worry about the nightmare of trying to contact and deal with PayPal customer support.
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Re: Alternatives to Western Union
Quote:
Originally Posted by cdnmatt
Probably the wrong crowd for this, but another excellent money transfer service is Bitcoin.
Perhaps you could do the same as me, and describe the step-by-step process of transferring money from another country to Thailand using Bitcoin from - you know - personal experience?
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Re: Alternatives to Western Union
Quote:
Originally Posted by kommentariat
Quote:
Originally Posted by cdnmatt
Probably the wrong crowd for this, but another excellent money transfer service is Bitcoin.
Perhaps you could do the same as me, and describe the step-by-step process of transferring money from another country to Thailand using Bitcoin from - you know -
personal experience?
I would also like a step by step description of how to use Bitcoin in a secure fashion. TIA
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Re: Alternatives to Western Union
Well, I get paid in bitcoin, so for me it's a little easier as I don't have that extra step of transferring USD / GBP into bitcoin first. Instead, I got straight from BTC -> THB. Anyway, to get setup you would:
1.) Figure out how to store your bitcoin. Not going to get into details, as it's out of the scope of this forum. Tons of options available though, however I would highly discourage use of an online web wallet (eg. http://blockchain.info/), and instead download and install your own wallet such as http://electrum.org/ or even Bitcoin Core
2.) Buy some bitcoins. Just Google "bitcoin exchange my_country_name" to see what's available to you. If it's just a smaller transaction of say $3000 or less, just head to http://localbitcoins.com/ and you can easily buy there.
3.) Once in Thailand, sell your bitcoin. Again, http://localbitcoins.com/ works great for this. If you're in a popular area like Bangkok, Pattaya or Chiang Mai, there will be someone local willing to buy. You can meet together to do a cash transaction, they can put the money in your bank account, or however you want to be paid.
For example, when a client from Europe or the US pays an invoice, I can have cash in hand within an hour. No fees from the network itself, although I do get dinged about 1 - 3% upon selling, all depending who I find to sell to.
If you're just sending your boy special a few hundred dollars here and there, bitcoin would be probably far better than Western Union or anything else. Basically no fees, no ID, no forms to fill out, instantaneous, etc. Plus you can just send it from your computer / cell phone, instead of having to go into town to Western Union, fill out a form, provide ID, etc. Instead, you can just instantly fire it off to your boy special, and assuming he's in somewhere like Bangkok or Pattaya, he could turn around and sell it within an hour.
Plus there's zero chance of it being blocked for fraud, or money laundering, or whatever. It's a decentralized P2P system, so there's no governance or regulation in place, and it's designed in a way to make it impossible to do so. If you go through an actual exchange, most are registered with the governments as money exchange services, hence will require KYC/AML info. However, by no means do you need to go through an exchange. Again, http://localbitcoins.com/ works great, or you can find other personal connections to buy / sell with, etc.
EDIT: If anyone has any specific questions, feel free to ask here or in PM. I've been developing software for the bitcoin industry for 2.5 years now, so I know the protocol inside and out.
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Re: Alternatives to Western Union
BITCOIN.
You must be out of your mind. Unless you were mighty lucky you'd have lost a small fortune [or perhaps a big one, depending how gullible you were] owning bitcoin during ALL times on either side of July 10/2013 and November 30/2013 [i.e. a total of 5 months]
http://www.xe.com/currencycharts/?from= ... D&view=10Y
I don't profess to know too much about the mechanics of using Bitcoins. I doubt that many do.
But the whole concept screams 'fad' to be, and that's being polite. I could also use the word 'scam' [Bitcoin has already gone through one very nasty episode which could easily be characterised as such].
Count me out of this scheme.
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Re: Alternatives to Western Union
If I recall correctly was one of our own esteemed board members not high up and tied up in the whole Bitcoin end of things and if Bitch boy Neal ( God rest his soul) was to believed they had a string of dodgy dealings going on in that whole arena.
I know Neal actuallyed publish some documents he claimed to have found about court actions etc that he had claimed to have found which could have been genuine or not, I have no idea, but as far as I know the person he was accusing didnt ever comment or deny the facts of that "expose" either way as far as I can recall, but of course knowing our dearly departed who one could never trust as far as you could throw him who knows whether that was true or not.
So, as I seemed to recall that Neals claims all centred round the member and massive Bitcoin fraud perhaps if they're reading this ( as I'm sure you know who they are. :-) perhaps they'd like to comment now and tell us THEIR thoughts on Newils at the time hugely libellous claims ( God Neal so loved that word :-( and / or their thoughts on the overall safety and security of the Bitcoin industry in general perhaps ?
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Re: Alternatives to Western Union
Apologies for the numerous typos above, it seems typing replies on a phone, whilst in bed with a hot asian guy lying next to me saying hurry up and get off the phone AND with a massive halloween party hangover isn't the best idea perhaps - mind you some might say they can't see much difference from my normals posts probably anyway - and they wouldn't be too far wrong of course :-)
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Re: Alternatives to Western Union
If any SGT member needs to experiment with transferring extremely high value sums of money to a third party, I'm willing to receive the funds and report back (eventually)
:x
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Re: Alternatives to Western Union
Why not just use bank to bank transfer? For me it is the easiest and cheapest way.
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Re: Alternatives to Western Union
Quote:
Originally Posted by Smiles
But the whole concept screams 'fad' to be, and that's being polite.
I think it's got beyond "fad" and is becoming more mainstream. However it's still the "currency" of choice for blackmailers, drug dealers and child pornographers on the Internet. I say "currency" but it's really just a digital commodity, the equivalent to gold but online. That's why its price fluctuates, just like any other commodity. What cdnmatt describes is exactly the process someone would undertake to transfer money to Thailand by buying gold in their own country, sending it to Thailand and having someone exchange the gold for baht. It's like Skrill (by using an intermediary "currency") - Skrill uses Euros, cdnmatt uses bitcoins. Unfortunately for your average Thai boy, the bitcoins process is infinitely more cumbersome. That cdnmatt thinks it a possibility shows his slim grasp of reality
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Re: Alternatives to Western Union
Quote:
Originally Posted by gaymandenmark
Why not just use bank to bank transfer? For me it is the easiest and cheapest way.
"A fool and his money" Part 2
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Re: Alternatives to Western Union
Quote:
Originally Posted by Smiles
But the whole concept screams 'fad' to be
See, knew this was the wrong crowd. :) Older folks are generally more wary of new technology, which is understandable. Bitcoin has been going for over 6 years, market cap of $4.8 billion USD, 100s of millions of VC investments, plus many livelihoods currently rely on it, mine included. I think we're out of fad territory. :)
Quote:
Originally Posted by Smiles
I could also use the word 'scam'
No, not really. Calling Bitcoin a scam is the equivalent of calling cash a scam, or saying e-mail is extremely dangerous, filled with hackers and scammers, and should be avoided at all costs because some people send viruses through it.
Quote:
Originally Posted by Nirish guy
So, as I seemed to recall that Neals claims all centred round the member and massive Bitcoin fraud perhaps if they're reading this ( as I'm sure you know who they are. :-) perhaps they'd like to comment now and tell us THEIR thoughts on Newils at the time hugely libellous claims ( God Neal so loved that word :-( and / or their thoughts on the overall safety and security of the Bitcoin industry in general perhaps ?
Really? Where was I when this was going on? Aside from myself, I don't think I've ever heard anyone mention Bitcoin on this board, so are you referring to me? If so, then no clue what the claims were, but no, I've never done anything nefarious in the bitcoin space. I'm on the good side. I'm the guy who protects people's funds.
Reason I'm in bitcoin is because I can charge triple what I can as a general purpose software developer. Plus I like the concept as well. I've had PayPal freeze my funds for 180 days before, and had Moneris terminate my merchant account without warning due to a 1.2% chargeback rate, I've had banks put holds on my funds before, etc. When things like that happen it can hurt, and leave you a bit high & dry. With bitcoin, that type of thing is impossible. Nobody has any say over my money, or ability to transact, except myself, which is how it should be.
As for general security, bitcoin in and of itself is extremely secure, and there's some amazing minds that work on the core dev team. The problem is the implementations that get built on top of the protocol can sometimes be quite shabby. Years ago many of the systems were ridiculously insecure, especially considering how much money they were handling.
Remember back when almost every week you'd hear a news story about 10s of millions worth being stolen by hackers? Those news stories seem to have disappeared, right? Things have advanced, and they're much better now, but there's still some pretty shotty services / implementations out there, so be careful.
For your own funds, the only rule you really have to remember is never allow your private keys to be stored online, hence why I discourage web wallets like https://blockchain.info/ and all the others. Use a HD BIP32 wallet (ie. Electrum), keep your private keys off the internet, and the likelihood you'll ever have funds stolen is nearly zero. In 2.5 years, I've never had a single dollar stolen.
EDIT: If you guys want a quick tip, you can expect the price to jump a fair bit starting mid-2016, which is when miner's rewards will be halved. Right now, block rewards are 25 BTC, meaning ~6750 new bitcoin are being generated daily. Come mid 2016, that's going to be halved to ~3375 BTC/day, so newly generated supply will shrink, and assuming demand stays the same, stands to reason the price is going to increase a fair bit. Well, either the price increases or bitcoin goes the way of the dinosaurs, because miners won't be able to afford to run the network anymore, and will shut shop.
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Re: Alternatives to Western Union
Sorry, but there is nothing in your response which impresses, or changes my mind.
Let's wait five years [I'll still be here] and you can give a new report - on this board - on how healthy the World O' Bitcoin is.
I suspect this will not end well.
On the other hand, when it comes to market investing I've been left licking dirt before, and have probably a few licks left in the years ahead. I have one stock in my portfolio which shows a graph eerily similar to the Bitcoin bummer shown in my post above.
Your condescending 'Old Folks' reference is just plain whippersnappily stupid.
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Re: Alternatives to Western Union
I have used transferwise twice so far and am happy with their service (post comparing withdrawal at ATM, exchanging cash and transferwise in preparation). There are similar services, but I haven't used them, so I can't compare.
I blacklisted paypal because ebay tried to force it into the market as payment method (more expensive and slower and bank transfer in Germany), and while not personally experiencing any difficulties the few times I was forced to use paypal, I have read horror stories on the web.
I know about bitcoin, but not enough to consider using it for monetary transactions.
Never used standard bank transfer (obscene fees and poor exchange rates) or Western Union.
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Re: Alternatives to Western Union
Quote:
Originally Posted by cdnmatt
Quote:
Originally Posted by Smiles
But the whole concept screams 'fad' to be
Really? Where was I when this was going on? Aside from myself, I don't think I've ever heard anyone mention Bitcoin on this board, so are you referring to me? If so, then no clue what the claims were, but no, I've never done anything nefarious in the bitcoin space. I'm on the good side. I'm the guy who protects people's funds.
.
Yes, where were you? There was quite an expose posted by Neal regarding a bitcoin scam supposedly involving a poster on this forum. No, it was not you matt.
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Re: Alternatives to Western Union
Quote:
Originally Posted by Smiles
Sorry, but there is nothing in your response which impresses, or changes my mind.
Let's wait five years [I'll still be here] and you can give a new report - on this board - on how healthy the World O' Bitcoin is.
I suspect this will not end well.
On the other hand, when it comes to market investing I've been left licking dirt before, and have probably a few licks left in the years ahead. I have one stock in my portfolio which shows a graph eerily similar to the Bitcoin bummer shown in my post above.
Your condescending 'Old Folks' reference is just plain whippersnappily stupid.
Perhaps you're thinking of this sort of thing, Smiles - http://www.coindesk.com/bitcoin-crime/
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Re: Alternatives to Western Union
Quote:
Originally Posted by kommentariat
No, I wasn't. But now that you've posted that link, just more manure for the pile. Thanks.
Just as an example: surely to fucking christ no one in their right mind would have anything to do with Bitcoins with the kind of obtuse and unexplainable language used in this eyeball rolling critique of Bitcoin (one of dozens).
Quote:
The bitcoins accrued тАУ known ransom demands range from the hundreds to thousands of dollars, according to the report тАУ are then washed through multiple addresses and known bitcoin services, though none are named directly in the report. Some of the funds are essentially reinvested in new exploit kits or rent payments for botnets.
Revenue-wise, the reportтАЩs authors note that, for its backers, CryptoWall "is extremely successful and continues to provide significant income".
"One variant alone involved with the 'crypt100' campaign identifier resulted in over 15,000 victims across the globe," the report states. "These 15,000 victims alone would account for, at minimum, roughly $5m in profit for the CW3 group.
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Re: Alternatives to Western Union
Quote:
Originally Posted by Smiles
obtuse and unexplainable language used in this eyeball rolling critique of Bitcoin ...
Quote:
The bitcoins accrued тАУ known ransom demands range from the hundreds to thousands of dollars, according to the report тАУ are then washed through multiple addresses and known bitcoin services, though none are named directly in the report. Some of the funds are essentially reinvested in new exploit kits or rent payments for botnets.
Revenue-wise, the reportтАЩs authors note that, for its backers, CryptoWall "is extremely successful and continues to provide significant income".
"One variant alone involved with the 'crypt100' campaign identifier resulted in over 15,000 victims across the globe," the report states. "These 15,000 victims alone would account for, at minimum, roughly $5m in profit for the CW3 group.
I'm gob-snacked that you find the language in that piece "obtuse and unexplainable". It's crystal clear to me. And it reinforces the point I made in an earlier post - bitcoin is the currency of choice for blackmailers, drug dealers and child pornographers. One thing you can say for criminal enterprises - they will make sure they don't lose their own money. Bitcoin (or is emulators) is here to stay.
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Re: Alternatives to Western Union
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Re: Alternatives to Western Union
Quote:
Originally Posted by kommentariat
I don't like gold either. I'll never be a 'REAL' Thai. B-)
I like rice though. :-*
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Re: Alternatives to Western Union
I'm not linking anything to my checking account directly. With a credit card I'm protected by laws that's a I'm only liable up to $50. With a direct bank account withdraw I'm liable and if defrauded I am at the mercy of the banks mood it could be forced to pay over withdrawal fees related to the fraud.
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Re: Alternatives to Western Union
http://bitcoinity.org/markets
Up 17% in the past 24 hours. WTF is going on? This isn't normal. I've heard rumors institutional investors have recently got on board, so maybe that's it? A jump like this hasn't happened in ages.
Damn, I was hoping it'd continue to stay quite low for another good bit, while I continue to save up my BTC. I have no problem seeing it at $2000+ in the future, so I'm long-term on it. Invoice in USD, get paid in BTC, so lower it is, the more BTC I get.
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Re: Alternatives to Western Union
Matt, just in case you missed it I PM'd you re this topic.
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Re: Alternatives to Western Union
I have a Thai bank account and make a large transfer before I travel using SAT Worldwide. I then use ATMs to draw cash out as needed.
This seems to be the most efficient way to get your hard-earned into Thai Baht - any better ideas?
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Re: Alternatives to Western Union
I've been confused about this thread from the beginning. What was meant to be the original topic?
For transferring money to your own account in Thailand, Western Union has always been a terrible choice, worse than buying baht at your local bank and mailing them to Thailand in an envelope marked "CASH".
Western Union is for sending money to "friends" here who don't have a bank account. It works but can be awkward and the cost is absurd.
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Re: Alternatives to Western Union
Quote:
Originally Posted by mahjongguy
I've been confused about this thread from the beginning. What was meant to be the original topic?
For transferring money to your own account in Thailand, Western Union has always been a terrible choice, worse than buying baht at your local bank and mailing them to Thailand in an envelope marked "CASH".
Western Union is for sending money to "friends" here who don't have a bank account. It works but can be awkward and the cost is absurd.
It was spawned by Bucky's thread trying to blame Panthip Plaza for being a dickhead and having his Western Union account scammed
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Re: Alternatives to Western Union
Quote:
Originally Posted by kommentariat
That cdnmatt thinks it a possibility shows his slim grasp of reality
So you're saying I should invest in getting some Bitcoin ATMs setup in the likes of Pattaya and Bangkok? Hookers in the Western world are using them in droves.
Could be some decent profit there. Cheaper and easier than Western Union for the farang punters sending money to their newly found love, and Thais could easily get cash out of the ATM.
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Re: Alternatives to Western Union
Quote:
So you're saying I should invest in getting some Bitcoin ATMs setup in the likes of Pattaya and Bangkok? Hookers in the Western world are using them in droves.
Could be some decent profit there. Cheaper and easier than Western Union for the farang punters sending money to their newly found love, and Thais could easily get cash out of the ATM.
Bitcoin seems to be the darling of diehard anti-establishment, anti-capitalism types, who then confuse the issue by gloating over how much money they've made from it (whilst keeping schtum about what they've lost..)
As a currency though it can't be taken seriously until it's buying power - be it bowls of rice or boys for the night - achieves some semblance of stability.
My biggest issue with it is that without the backing of any government willing to defend it, or the absolute certainty that someone won't figure out how to create unlimited quantities of it, it's value could so very easily evaporate overnight..
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Re: Alternatives to Western Union
Quote:
Originally Posted by mahjongguy
I've been confused about this thread from the beginning. What was meant to be the original topic?
Quote:
After being highly amused by a recent thread I thought I'd post about my experiences of using money transfer services to Thailand other than Western Union.
The first line in the first post in this thread
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Re: Alternatives to Western Union
Quote:
Originally Posted by cdnmatt
Quote:
Originally Posted by kommentariat
That cdnmatt thinks it a possibility shows his slim grasp of reality
So you're saying I should invest in getting some Bitcoin ATMs setup in the likes of Pattaya and Bangkok?
I doubt that you have the ability to organise yourself out of a wet paper bag, frankly, let alone "invest" in Bitcoin ATMs anywhere in Thailand. That your average barboy has even heard of Bitcoin let alone capable of handling both the digital and physical aspects of the transaction is, however, the "slim grasp of reality" to which I was alluding.
Quote:
Originally Posted by cdnmatt
Hookers in the Western world are using them in droves.
For someone who usually expresses contempt for those who pay you claim to be remarkably knowledgeable about the hookers of the Western world. As someone who uses hookers extensively all over the world I can state without hesitation that I've never been asked for anything except cold, hard cash.
Quote:
Originally Posted by cdnmatt
Cheaper and easier than Western Union for the farang punters sending money to their newly found love.
Since Smiles is a pretty good weathervane for what farang punters of a certain age are capable of, and has already expressed his negative opinion, this comment too is another example of your "slim grasp of reality". Me, I'm still waiting to see bucknaway mincing by in The Look, jangling his few bitcoins (worth less than $20 apparently) in his pocket. Given your avarice I'm surprised you haven't offered him $20 to take them off his hands =))
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Re: Alternatives to Western Union
Quote:
Originally Posted by Nirish guy
Matt, just in case you missed it I PM'd you re this topic.
Uh oh ... the smell of another Bitcoin Believer wanting to discuss the whole thing with another True Believer, totally in private.
A Conspiracy Believer loves company.
Lots of 'believers' in this Nonsense Land.
(Perhaps I'll turn out wrong on this. In which case, enjoy your capital gains. $2000 per Bit is Cndmatt's bet. Let's talk 5 years from now).
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Re: Alternatives to Western Union
Well you're certainly wrong about "another believer" and "wanting to discuss the whole thing in private" - I was merely telling Matt that as per his post earlier "no, it wasn't him I was alluding to" ( if you must know - away and take a few paranoia pills there and lie down in a darkened room for a while and I'm sure you'll be fine again shortly.
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Re: Alternatives to Western Union
Quote:
Originally Posted by Smiles
A Conspiracy Believer loves company.
haha, so bitcoin is a conspiracy now? Smiles, W3C just green lit bitcoin to become part of its new stanardization of online payment protocols. If you don't already know, W3C is the defacto in internet standards, and they basically dictate how every aspect of the internet works. From DNS lookups, to formatting / sending e-mail messages, HTTP requests, FTP, CSS, Javascript, and so on... What they dictate, everyone follows, from Google to Apple, to small guys like me and everyone else.
Now that they've said they're including bitcoin in their payment protocols standards, that's a massive step forward. Think you might be a little behind the times on this one. Again, wrong crowd for this type of discussion. Sure, like you said, give it 5 years and we'll see where we are. :)
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Re: Alternatives to Western Union
Quote:
Originally Posted by cdnmatt
' ... If you don't already know, W3C is the defacto in internet standards, and they basically dictate how every aspect of the internet works. From DNS lookups, to formatting / sending e-mail messages, HTTP requests, FTP, CSS, Javascript, and so on... What they dictate, everyone follows, from Google to Apple, to small guys like me and everyone else ... '
WHAT, WHAT, WHAT.
You got me on that, I must say. [Not at all sure what you got me on, but ... ]
I'll have to ask LonelyWombat to decipher it for me.
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Re: Alternatives to Western Union
Here you go, Smiles, something to feed your concerns http://www.ibtimes.com/bitcoin-rally-di ... zi-2169480
Bitcoin is merely one of the emerging ways of transacting which rely on Blockchain which will revolutionise aspects of banking. However its value to the ordinary punter (ie. those of us who don't deal drugs or kiddy porn) is probably limited for the time being
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Re: Alternatives to Western Union
Hold the front page! The head of investment bank JPMorgan agrees with Smiles http://fortune.com/2015/11/04/jamie-dim ... y-bitcoin/
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Re: Alternatives to Western Union
That's like asking the CEO of Western Union what he thinks about bitcoin. Of course he's not going to like it, because it threatens their business model.
Then he says the governments won't allow it, which doesn't make sense, because regulation is impossible. You can't regulate a bunch of hashes being passed around the internet. Again, it's already stood the test of time, and is here to stay.
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Re: Alternatives to Western Union
Quote:
Originally Posted by cdnmatt
You can't regulate a bunch of hashes being passed around the internet.
Does Bucky know that? He has "a few" bitcoins that he jiggles with in his pocket as he walks around in The Look.
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Re: Alternatives to Western Union
Did someone mention my name?
(Now I know how Bing Crosby felt when he did a cameo in a Bob Hope film.
(Takes a bow and leaves thread)