The only worry I have is we're a market rather than an economy. We need to make 2014 the year when bitcoin destroys western union and is much more widely accepted for buying stuff. Remittance is the killer app.
What if Western union installed Bitcoin ATM's in every shop?
That would be like sticking a plaster on burst dam.
Interesting article:
http://www.bloomberg.com/news/2013-11-28/bitcoin-service-targets-kenya-remittances-with-cut-rate-fees-1-.htmltldr: kenyans send 1.2 billion dollars home per annum. mostly through wu
Western Union and MoneyGram International Inc. deduct $10 to $17 to wire $200 to Kenya from the U.S., including charges to exchange funds, in a process that can take an hour to five days, according to the World Banks Send Money Africa price database. BitPesa will charge 3 percent on overseas transfers and says the money arrives the same day. At that rate, it would cost $6 to send $200 via BitPesa.
