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Does Bitcoin make sense for international money transfer?


karlos
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from the official Ripple forum: https://www.saveonsend.com/blog/bitcoin-money-transfer

Bitcoin money transfer is usually discussed in either sensational or downright misleading way. There is a significant category of bitcoin fans who seem to be completely vested in this innovative product’s awesome potential and are unable to entertain a deviating opinion. This very smart and capable, but, unfortunately, close-minded group believes that bitcoin cancels a need for regulation and would soon destroy Visa, Western Union and “banks.” Articles written for and by such audience are easy to find, and we will not link to them to avoid enabling such either outrageously ignorant or deceptive opinions.
Its a long article, but definitely worth the read. The author goes through the typical points people use to promote Bitcoin. The part about cross border payment margins was really interesting:
More relevant for Bitcoin-based remittance providers looking for tech-savvy early adopters, margins for online remittance in top corridors are in the 1-2% range. For money transfers from USA to India, the world’s most advanced corridor for the reasons we are describing in another SaveOnSend article, margins are approaching ZERO (see table below). And it is just a matter of time before other top corridors would follow same pattern.
And the conclusion:
In a short-term, a bitcoin-based remittance providers might be better-off starting in lower-volume-higher-margins corridors that we discussed above.
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