Western Union is getting destroyed by Bitcoin in Switzerland

[687_2]

Every electronic ticket machine in Switzerland sells XBT, and accepts CHF and EUR cash as payment. Apparently people have been using it for remittance purposes instead of Western Union, and WU decided to try to do something about it:



A perfect reason to walk over to the machine and buy Bitcoin 

[1715202429]

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[digaran]

What did they decide to do about it? people should realize something about bitcoin, it's like IPv4 and IPv6 while banks and traditional banking system is more like IPv4 while bitcoin is like IPv6. if you know about internet protocols you'd know what I'm talking about.

[franky1]

What did they decide to do about it? people should realize something about bitcoin, it's like IPv4 and IPv6 while banks and traditional banking system is more like IPv4 while bitcoin is like IPv6. if you know about internet protocols you'd know what I'm talking about.

bitcoin has IPv6 utility, but.
but then we have blockstream trying to act as ISP's only offering users ipv4 and sidetrack them with bad compression and other features, while the ISP(blockstream) is utilising real IPv6 concepts for commercial banking networks. until they are ready to unveil the new ipv6 currency known as hyperledger

[flora_digitalis]

A perfect reason to walk over to the machine and buy Bitcoin 

Just a question: Are you from Switzerland? As far as i know you need a Swiss mobile number for buying BTC. Or is there any way around this (idiotic rule)?

[n691309]

Every electronic ticket machine in Switzerland sells XBT, and accepts CHF and EUR cash as payment. Apparently people have been using it for remittance purposes instead of Western Union, and WU decided to try to do something about it:

A perfect reason to walk over to the machine and buy Bitcoin 

Am I the only one who don't like buying bitcoin in public places or in these places where are lots of camera which does not give privacy to the amount (I mean only for privacy) but if I don't care for privacy then it's ok, a good place to purchase bitcoin and from the picture provided seems the fees are not high as I thought.

[Wendigo]

Every electronic ticket machine in Switzerland sells XBT, and accepts CHF and EUR cash as payment. Apparently people have been using it for remittance purposes instead of Western Union, and WU decided to try to do something about it:

A perfect reason to walk over to the machine and buy Bitcoin 

Am I the only one who don't like buying bitcoin in public places or in these places where are lots of camera which does not give privacy to the amount (I mean only for privacy) but if I don't care for privacy then it's ok, a good place to purchase bitcoin and from the picture provided seems the fees are not high as I thought.

I am pretty sure every ATM machine has a camera pointed directly at you so even if there is no one around your receipt could still be seen. Not that this is the end of the world but this doesn't matter at all because your government could see your bank statements and your last online Bitcon purchase at will. Are you scared of random people staring at your Bitcoin receipt lol?

[maku]

I heard that Switzerland is gearing towards crypto acceptance, Bitcoin is Vat-free in Switzerland, in Zug area you can pay taxes with BTC, Swiss railway accepts BTC, banks forcing bitcoin friendly legislation,
but I have no idea that you can buy BTC from every electronic device, I thought is is only couple ATMs.
When bitcoin will fully unfold its wings, Western Union will become a MySpace of money remittance solutions and they know that perfectly well, no wonder they are starting to panic.

[Raimonn]

Every electronic ticket machine in Switzerland sells XBT, and accepts CHF and EUR cash as payment. Apparently people have been using it for remittance purposes instead of Western Union, and WU decided to try to do something about it:

A perfect reason to walk over to the machine and buy Bitcoin 

Am I the only one who don't like buying bitcoin in public places or in these places where are lots of camera which does not give privacy to the amount (I mean only for privacy) but if I don't care for privacy then it's ok, a good place to purchase bitcoin and from the picture provided seems the fees are not high as I thought.

Privacy isn't related to cameras only, if you buy on an exchange they know who you are too. The biggest problem that i see normaly in this vending machines (or on ATM's) is the big fees compared to exchanges.

[n691309]

Every electronic ticket machine in Switzerland sells XBT, and accepts CHF and EUR cash as payment. Apparently people have been using it for remittance purposes instead of Western Union, and WU decided to try to do something about it:

A perfect reason to walk over to the machine and buy Bitcoin 

Am I the only one who don't like buying bitcoin in public places or in these places where are lots of camera which does not give privacy to the amount (I mean only for privacy) but if I don't care for privacy then it's ok, a good place to purchase bitcoin and from the picture provided seems the fees are not high as I thought.

I am pretty sure every ATM machine has a camera pointed directly at you so even if there is no one around your receipt could still be seen. Not that this is the end of the world but this doesn't matter at all because your government could see your bank statements and your last online Bitcon purchase at will. Are you scared of random people staring at your Bitcoin receipt lol?

No, I don't have that "issue", and I think most of people here too because as long as we don't make anything illegal then it's ok, I also don't spend bitcoins somewhere I don't like, but for the privacy of people who buy in these places are 0% but anyway it is better than nothing and I'm happy to see such places because it encourage more people to join the cryptocurrency.

[unamis76]

So no fees in WU until the end of March? Tough competition Good to see these services stepping up! Their general acceptance was what made Bitcoin happen, so them stepping up means that Bitcoin will one up them soon.

[Wendigo]

Every electronic ticket machine in Switzerland sells XBT, and accepts CHF and EUR cash as payment. Apparently people have been using it for remittance purposes instead of Western Union, and WU decided to try to do something about it:

A perfect reason to walk over to the machine and buy Bitcoin 

Am I the only one who don't like buying bitcoin in public places or in these places where are lots of camera which does not give privacy to the amount (I mean only for privacy) but if I don't care for privacy then it's ok, a good place to purchase bitcoin and from the picture provided seems the fees are not high as I thought.

I am pretty sure every ATM machine has a camera pointed directly at you so even if there is no one around your receipt could still be seen. Not that this is the end of the world but this doesn't matter at all because your government could see your bank statements and your last online Bitcon purchase at will. Are you scared of random people staring at your Bitcoin receipt lol?

No, I don't have that "issue", and I think most of people here too because as long as we don't make anything illegal then it's ok, I also don't spend bitcoins somewhere I don't like, but for the privacy of people who buy in these places are 0% but anyway it is better than nothing and I'm happy to see such places because it encourage more people to join the cryptocurrency.

Define privacy please? There is no privacy when you are buying online or offline as long as you are using funds that can be traced back to you. Do you think your privacy is 99% when you are hidden behind your monitor at home and 0% when you are at the mall ATM? Lol. If you want 100% privacy you have to put on a fake beard and glasses and meet up a Localbitcoins seller. Have you bought any that way?

[matt4054]

I heard that Switzerland is gearing towards crypto acceptance, Bitcoin is Vat-free in Switzerland, in Zug area you can pay taxes with BTC, Swiss railway accepts BTC, banks forcing bitcoin friendly legislation,
but I have no idea that you can buy BTC from every electronic device, I thought is is only couple ATMs.
When bitcoin will fully unfold its wings, Western Union will become a MySpace of money remittance solutions and they know that perfectly well, no wonder they are starting to panic.

You can buy coins from any SBB ticket machine now so pretty much any station around the country.

Which is great, as for the phone number requirement I haven't tested myself yet, but you could get a burner for a few bucks from any shop, although with ID. If privacy is your concern, buying coins that way is obviously the wrong choice, but it's perfect for legitimate use.

[n691309]

Privacy isn't related to cameras only, if you buy on an exchange they know who you are too. The biggest problem that i see normaly in this vending machines (or on ATM's) is the big fees compared to exchanges.

So no fees in WU until the end of March? Tough competition Good to see these services stepping up! Their general acceptance was what made Bitcoin happen, so them stepping up means that Bitcoin will one up them soon.

I can't see the date of the receipt provided in the OP but to calculate the fees seems that it is around 6% because 12.04 CHG of 200 CHF is 6% so I think it is pretty high but when we compare this to person to person fees this is not bad even though the transactions are mostly instant

[687_2]

Just a question: Are you from Switzerland? As far as i know you need a Swiss mobile number for buying BTC. Or is there any way around this (idiotic rule)?

Yes, but other private BTMs don't have the same requirements. The national rail company operates all of these machines.

[4better]

On this subject, I thought that a huge company such as Western Union really got destroyed by Bitcoin. But the way I see it, Western Union is just doing some positive steps to utilize Bitcoin to keep up with the latest trends in industry.

[matt4054]

On this subject, I thought that a huge company such as Western Union really got destroyed by Bitcoin. But the way I see it, Western Union is just doing some positive steps to utilize Bitcoin to keep up with the latest trends in industry.

Bitcoin doesn't need to destroy WU.

Before the money transfer industry, WU was all about mail, telegrams and moving people. They could very well move coins in the future, everyone would be happy.

[Shady]

I've seen this happen to most countries in Asia well. After how well the gains have been, the outcome to prosperity in second / third world countries is amazing.

There are people living off BTC by holding faucet money. Don't doubt the importance of it's future either. Just like Satoshi expected, each and every country on this planet is opened up to the future of worldwide transactions while making surprising returns.

[Senor.Bla]

So the fee is around 6%, but what exchange rate is it and what about the maximum limit one can get? Is there some KYC stuff or can i just go there and pay in cash and get some coins?

[alyssa85]

Every electronic ticket machine in Switzerland sells XBT, and accepts CHF and EUR cash as payment. Apparently people have been using it for remittance purposes instead of Western Union, and WU decided to try to do something about it:

Ummm..

The issue is not changing your CHF into bitcoin. It is the person on the other side having to change their bitcoin into their local currency.

Are there bitcoin ATMs in South Africa, Philippenes or Brazil? If there are not, it doesn't work for remittances.

[bajing]

I'm not surprised hear that news due I was tell to anyone one days, people will left western union due they can use bitcoin that give low fee transaction and if this news are true hopefully this is open people eyes from other country that most using westren union for send and received money.