New Bitcoin Killer App: “FIAT to BTC to FIAT”

[the_poet]

http://cointelegraph.com/news/116044/new-bitcoin-killer-app-fiat-to-btc-to-fiat

[Kprawn]

Is this really a Killer App? We will see if the traditional services will be disrupted by this in the future.. as stated in the article, people want the convenience of walking into a

business with cash and sending it to someone else in another location and that person walking out of there with cash again. Bitcoin or this application does not solve that

problem, it only makes the transfer of value easier, without having to store huge amounts of currency everywhere.

[Amph]

in the example he is talking about exchanging fiat for other fiat is this done through bitcoin? or they are only using the blockchain to lower the fee for international exchange of fiat money?

[franky1]

Is this really a Killer App? We will see if the traditional services will be disrupted by this in the future.. as stated in the article, people want the convenience of walking into a

business with cash and sending it to someone else in another location and that person walking out of there with cash again. Bitcoin or this application does not solve that

problem, it only makes the transfer of value easier, without having to store huge amounts of currency everywhere.

what if there were local offices where people could walk in and the staff say ok send me $100 via the app to user "freemitagent12345" and i will give you $100 in bank notes..
problem solved.
it doesnt even have to be a freemit office either. it can be just random people setting up a private broker to swap freemit dollars for bank note dollars and vice versa

i know in africa there is alot of local places that do that for Mpesa and none of those brokers work for the mobile phone company

[Snorek]

This app is definitely leap forward (that is if it is working as advertised without problems, and with 0% fee as they mentioned).
I liked that bitcoin comparison to  Netflix - 'It took 17 years for Netflix to destroy Blockbuster but at last it happened. Old habits die hard, but economy laws can’t be beaten.'
The same will happen with bitcoin remittance, we just need apps like these to take over remittance market.

[Snorek]

It's another remittance startup. Nothing new. https://medium.com/@Cryptonight/bitcoin-doesn-t-make-remittances-cheaper-eb5f437849fe#.friupn9q9

The cost of remittance is not in sending money a digital string from one country to another, it's a meatspace thing: compliance, storing, bricks & mortar stuff.

It is true that bitcoin is not magical solution to remittance problem as many people may think. That is why we need more project to crack that idea of bitcoin remittance.
Bitcoin may not be the killer competitor in remittance field but at least it will make Western Union and other regulated remittance companies to lower their rent-seeking prices.

[HostFat]

It seems just like uphold.com

[edoncoin]

http://cointelegraph.com/news/116044/new-bitcoin-killer-app-fiat-to-btc-to-fiat

It's just assumptions

[Rizky Aditya]

Bitcoin was made as a new currency, but people are now just trying to make money out of it. I really dislike this.

[WENGER]

This is certainly the Killer App for easing all this conversation problems that normally takes an hour to complete using the traditional ways but I sort of doubt they could do it for every single country as I know there's always some countries that don't work together due to some sanctions imposed for them by the other country so it won't be for every single user but it could be for most users out there.

[davinchi]

Bitcoin was made as a new currency, but people are now just trying to make money out of it. I really dislike this.

I don't see anything wrong here as bitcoin is just a mediator here where local currency is converted first into bitcoins and then into another country's currency. It's not that people want to make money of it here as the app is charging 0% fee.

[Rubberduckie]

anything that helps me do the math and makes my life easier
I am all about

I cant stand when people try to stop progression,

People in 1960- 1970 held back the microwave thinking it would
give you cancer and destroy homes and housewives lol. Embrace
evolution.

[Raimonn]

Isn't Fiat to Btc to Fiat, first you need bitcoin. You need bitcoins to load your balance on the app. I prefer the bitcoin prepaid cards (in this case your friend will need a btw prepaid card), with bitcoin prepaid card you can pay directly on shops that accepts debit cards, or withdraw fiat money on ATM (with fee costs). With this app, you can only pay to shops affiliates on their mobile payment system. Or withdraw on atm (paying a fee).

[fuathan]

Interesting app. It might be useful but "Killer App" is a little sugarcoated thing.