BITCOIN IS BETTER THAN WESTERN UNION ?

[mtnsaa]

Please read the article, it's very interesting and actually manages to answer many questions here.

"In other words, you could send $100 from the USA to your brother in Japan, and have that money immediately transferred and converted into the japanese Yen equivalent of $100. That’s a 0% commission we are talking about, here."

“Western Union is not in the business of transferring money. They are in the business of storing money in many different currencies in many different locations so that when somebody wants to receive cash on one end they already have the cash on that end without having to incur any costs transferring money. Their cost of transferring money is very small as they have built large reserves of currency in many locations. Their cost is maintaining offline outlets and software for their clients that want to become brokers for Western Union. If Western Union used Bitcoin it would only educate their customers that peer to peer money transfers can be done cheaper without Western Union in the future. Western Union has nothing to gain from using Bitcoin, but everything to lose from others using Bitcoin.”

“I was at money 20/20 in vegas and the western union people are most certainly looking to adopt it. Big companies don’t change course that quickly, it takes them some time, but they most certainly are looking to do that.”

[smith coins]

Even Wester Union is not instant as i know as it needs some minutes to be available on the other side to pick up the cash, but bitcoin sometimes it's better because of low fees (if you use higher fees the tx will get confirmed within 10-20min)

[delliaerd]

Even Wester Union is not instant as i know as it needs some minutes to be available on the other side to pick up the cash, but bitcoin sometimes it's better because of low fees (if you use higher fees the tx will get confirmed within 10-20min)

 I totally agree with you. I also always use bitcoin then western union because that reason. Low fees is mostly everyone love about that

[Digitalbitcoin]

Never tried Western Union but Bitcoin has lots of Features as Instant, Anonymous, Transparent, Low fee etc These feature are enough for taking Bitcoin ranking higher in trade of currency.

[enhu]

Never tried wester Union But Bitcoin has lots of Features as Instant, Anonymous, Transparent, Low fee etc These feature are enough for ranking higher in trade of currency.

Well you can't cash out with just bitcoin. you can't compare BTC and western union  as they both work differently.
The western union sender by the way can cancel the transaction so long as he hasn't got a text message from western union about the withdrawal. SO i don't recommend using western union still.

[nydiacaskey01]

Never tried Western Union but Bitcoin has lots of Features as Instant, Anonymous, Transparent, Low fee etc These feature are enough for taking Bitcoin ranking higher in trade of currency.

I think it's the other way around, it's Western Union has more features or options that Bitcoin. The only feature I see with Bitcoin is Instant, low fee and Anonymous. Transparent? How can it be transparent when it's anonymous?

Western Union is everywhere and instant if you have complete documents to cash out, they may have higher fees than Bitcoin but that comes with the service.

[ajun96]

I don't see WU as a competitor for bitcoin.
Only CC companies hold a much larger revenue then bitcoin. So beating them in revenue and volume is our main concern.

Banks etc. are not really a competition because for the coming years we need them.

yeah WU is not a good competitor, because WU getting old and unused,
many people have switched from WU
now competitors bitcoin is another digital currency, or any other payment options such as PayPal

[Proxiebuier]

ofcourse i agree
bitcoin is better than western union

[lottery248]

I don't see WU as a competitor for bitcoin.
Only CC companies hold a much larger revenue then bitcoin. So beating them in revenue and volume is our main concern.

Banks etc. are not really a competition because for the coming years we need them.

yeah WU is not a good competitor, because WU getting old and unused,
many people have switched from WU
now competitors bitcoin is another digital currency, or any other payment options such as PayPal

because of the low usage in the WU, people won't really mind if they are laundering their money using the WU.
if WU discovered that someone is laundering the money or scamming this way, then WU is still possible to sue the scammer/launderer to help victims to get back the money scammed using the evidence in the WU.

ofcourse i agree
bitcoin is better than western union

but bitcoin is not possible to get traced, so scamming or laundering goes easier; though bitcoin allows underage users.

[Luqman]

I say yes, bitcoin is better, because people will like the transaction fee from bitcoin than western union that cost much.

[dk8218]

Yea.. bitcoin transaction is at low fees..
And that market user comparison,
Visa and other cards had years of time to grow,
And bitcoin has just started..
Wait some years...
When all people will know about bitcoin and for banks of bitcoin..
I m sure bitcoin will be in top 5 if it happens in 10 years period..

[blackmachinegun]

I don't see WU as a competitor for bitcoin.
Only CC companies hold a much larger revenue then bitcoin. So beating them in revenue and volume is our main concern.

Banks etc. are not really a competition because for the coming years we need them.

If the credit cards also adopt bitcoin in its payment option, there is no need to beat the credit card company. We already have bitcoin credit cards.

yeah bitcoin has issued a credit card, so I think the other credit cards can not compete with bitcoin
bitcoin can be used for anything, that excess bitcoin than others

[umaOuma]

Yea.. bitcoin transaction is at low fees..
And that market user comparison,
Visa and other cards had years of time to grow,
And bitcoin has just started..
Wait some years...
When all people will know about bitcoin and for banks of bitcoin..
I m sure bitcoin will be in top 5 if it happens in 10 years period..

Yeah and still there are many people who are not aware that bitcoin is also used for remittance purposes so they are still using WU and paying high fees, once they are well aware about the bitcoin remittances I am sure they would switch from WU to bitcoins as the services offered by bitcoin involves minimal fees.

[smith coins]

I say yes, bitcoin is better, because people will like the transaction fee from bitcoin than western union that cost much.

If the price of bitcoin will stay at a low level the transaction fees probably will be increased but i hope will not be too much.

[knowhow]

The future of bitcoin after the mine ends hasnt yet a project or anything related about it,sure people are interested into the present and those future that should take some more years are not the big concern,but something must be talked about that day.

[foggyb]

Interesting, I had not realized that Bitcoin had surpassed Western Union already. But in hindsight I am not surprised, we have much higher expectations for bitcoin than beating western union at their own game.

[mtnsaa]

You still think it's better to send $450 one day and receive $370 the next one? What kind of company will afford to have those risk and volatility. No sane person will accept a transfer in Bitcoin, plus they won't be able to cash it anywhere, that's why Western Union is successful. I don't understand how this thread keeps going and going, there's no real research done. Go and open your own Bitcoin transfer company and see if you can keep up with 0 fees.

[dk8218]

Yea.. bitcoin transaction is at low fees..
And that market user comparison,
Western Union, Visa and other cards had years of time to grow,
And bitcoin has just started..
Wait some years...
When all people will know about bitcoin and for banks of bitcoin..
I m sure bitcoin will be in top 5 if it happens in 10 years period..

[dk8218]

And western union can easily be hacked...
If you have seen, i have senn many hackers hacking western union money WU and selling them in change of btc..
Because they can't hack btc or they can't use stolen cards there..
The blockchain is too much secure than other all..
That's why they sell hacked WU transfer in change of btc..
And btc has fast transaction, lowet transaction fees, and open easy use, no government controls..

[a7mos]

Bitcoin is better that Western Union in transferring small amounts abroad and with very low fees.
But with big amounts, one should choose a time that has stable prices because if the btc value declined rapidly and suddenly during the transaction and exchanging it , it will be a loss and WU would be better in this case