Western Union is getting destroyed by Bitcoin in Switzerland

[szpalata]

The Swiss mafia is everywhere and I bet they will gradually collapse western union because if they adopt Bitcoin fully and based on their banking history they might be able to hold up the secret and help people store up Bitcoin in Switzerland and help make it stronger than fiat and subsequently make Bitcoin transfers attractive than western union.

[South Park]

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.

oh, what happened if you buy bitcoin in area where are cameras and situation is like in bank? What happened if you are using for legal things? Nothing..
Maybe it will destroy western union in switzerland but not huge damage for them. It has positive side, maybe they will try to add bitcoin worldwide transfer and that won't be bad news.

I don't think the issue is the legality of the use you are going to give to bitcoin but simply about your privacy rights, unfortunately this is a problem with everything and not only bitcoin, if you buy groceries with a credit card then the super market where you buy your stuff know exactly what you bought and when.

[matt4054]

if you buy groceries with a credit card then the super market where you buy your stuff know exactly what you bought and when.

Had you bought groceries with silver bucks from your local store a few centuries ago, it would have been just the same. It not the information that is new in the game, it is the automated storage of that information, the communication (information in motion) and the computers to dig into it and deep learn from it that is new.

[RodeoX]

Side note:
 The Seattle city council has voted to divest it's holdings in western union. This yanks $3billion from them. They are standing with the standing rock Sioux tribe against the pipeline.

[Pab]

Great,Switzerland is now very friendly for bitcoin,services like WU or Money Gramm are going away,chinise have bought money gramm i ve been reading something thay will try use digital currencys
Maybe news that SNB is accepting bitoinare around corner and it is reason of price spike

[687_2]

Side note:
 The Seattle city council has voted to divest it's holdings in western union. This yanks $3billion from them. They are standing with the standing rock Sioux tribe against the pipeline.

Cool, but this was Wells Fargo, not Western Union 

[CraigWrightBTC]

Bitcoin starts spreads to remittance business, the transaction of bitcoin is fast than traditional transaction,
that are some beneficial bitcoin be compared with western union.
The people will choose bitcoin for sending the money than choose western union that has expensive fees
some time western union will be getting destroyed by bitcoin for all of countries.

[Larvas]

With the stupid fees and limitations which WU has, this is really not a surprise. If this would spread out, I would be the first one who would transfer from WU to bitcoin, especially because it's easier to transfer un-taxed money via bitcoin then via WU.

[kryptqnick]

Great,Switzerland is now very friendly for bitcoin,services like WU or Money Gramm are going away,chinise have bought money gramm i ve been reading something thay will try use digital currencys
Maybe news that SNB is accepting bitoinare around corner and it is reason of price spike

I've seen such a post before with photos or some guy buying bitcoins in Switzerland this way but is WU really going away because of this? Can the opposite thing be done, can you buy euro for btc? If not then WU still has its advantage that you can actually get cash and buy something for it. Although I hear the taxation is very high there.

[Larvas]

I've seen such a post before with photos or some guy buying bitcoins in Switzerland this way but is WU really going away because of this? Can the opposite thing be done, can you buy euro for btc? If not then WU still has its advantage that you can actually get cash and buy something for it. Although I hear the taxation is very high there.

No, the taxation is not high, the fees are.

The transfer money is available to the second party in almost minutes, but for 1000 eur you pay almost 60 eur in WU fees, and the fee goes higher if you want to send more, on 2000 eur it's around 120 eur in fees etc. And the problem is that it's limited to 1500 eur per transfer/wu number (at least that was my experience), in case I'm sending 5000 eur to you, I pay 300 eur in fees, but you get around three MTCN numbers and you have to fill out three papers with the same data but different MTC to pick it up. If it's a small post office, you have to tell them that 24h before that you will come and pick it up.

Via BTC it's much easier, but you don't get the cash instantly...

[Xester]

The Swiss mafia is everywhere and I bet they will gradually collapse western union because if they adopt Bitcoin fully and based on their banking history they might be able to hold up the secret and help people store up Bitcoin in Switzerland and help make it stronger than fiat and subsequently make Bitcoin transfers attractive than western union.

Western Union should adopt to the changes of the times. Instead of getting crushed by bitcoin they must integrate bitcoin and use bitcoin in their remittance system or they will convert their system into an escrow system and enjoy the benefits from service fees. If western Union will not adopt bitcoin then sooner or later they will go bankrupt.

[RodeoX]

Side note:
 The Seattle city council has voted to divest it's holdings in western union. This yanks $3billion from them. They are standing with the standing rock Sioux tribe against the pipeline.

Cool, but this was Wells Fargo, not Western Union 

OMG your right.  Oops, sorry. I was remembering incorrectly an article I read earlier in the day. 

[Victorycoin]

Here's the thing feared by financial institutions such as banks, presence of bitcoin will certainly make financial services, and of course there will be a rejection of many of the parties that will keep campaigning to reject the bitcoin. For us as users of the bitcoin, surely this can we expect.

Nice to see Switzerland taking that bold stand for Bitcoin and hope other countries will stop sitting on the fence and embrace Bitcoin because it is actually here to stay. As for WU, MG and many companies out there that are too blind not to see change, even while standing right before them, "early bird eats the worm."

[Creepings]

Whoa, that is really nice to have a bitcoin stand in our place too. Hope they have consider bitcoin as a currency that some other people used too here in our country. And I think there really will be a lot of stand like that if bitcoin is introduced to other countries like us. Though other bank s are accepting some, really money is still used to convert it.

[frendsento]

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:

Well I am not kind of shocked hearing this news because it was already happening all over the globe , bitcoin was really fast compare to traditional remittance center , you can get your cash instanly wtihin a day unlike other remittance center that requires lot of verification and fees and you need to wait for days ! I love bitcoin but I am not buying bitcoin in public because I want to stay anonimous .

[Digitalbitcoin]

Exchanger services like as Western Union, MoneyGram and many other have already take advantage of charging higher rates of commission for exchange fiat currency globally, but now time is changed people are also get aware about anonymous and decentralized digital currency. Which is more comfortable for user.

So In future third party exchange services will be shut down due to higher charges and time taken for transaction.

Bitcoin and few other decentralized platforms are already give a best option to user. Stellar and Ripple are one of them which supports cross border payment system.

[lOvE mE forEvEr]

Not unexpectedly, this feared by the bank after the presence of bitcoin. Everything looks messed up so that they will urge the State to prohibit bitcoin because could threaten the existence of the bank.

[bitgoldpanther1978]

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.

Most ATM machine had installed camera in all different places in then whole world. maybe for now your not interested in bitcoin, but in the long run you'll do gonna like too, because in your place sooner or later in some other places Bitcoin is accepted in different merchants over there.

[Liang_Kubur]

This event will be followed in other countries, I'm sure when everyone knows the bitcoin then they never use Western Union services again. I think sending money by Western Union is troublesome and depending with hours of work when taking submissions.

[Pattart]

Not unexpectedly, this feared by the bank after the presence of bitcoin. Everything looks messed up so that they will urge the State to prohibit bitcoin because could threaten the existence of the bank.

yeah it looks like the government already knew about it, the potential for bitcoin is very large. its can make currency or bank becomes useless and disappeared as western union