Speaking of, been meaning to post this story which I thought was a good read, if you can stomach it. It’s all about child abuse material but there isn’t any graphic stuff.
These bros were transferring Bitcoin directly to a notorious child abuse website. I guess they were under the impression Bitcoin is anonymous, boy did they get a shock.
That was a brutal read. The Korean kid who ran the whole thing getting off with only 18 months is horrible.
Yeah. This is a great article and worth a read.
But yeah. Pretty brutal.
Do the Aussie dollars have little koalas on them? That would be adorable.
i have no idea how Wise works but considering how good their international transfer rates are I assume some corners are being cut and/or gray area outright illegal activity.
Crypto just won’t die, will it. 60% off lows already.
Rugby sends 1000 bucks to the Philippines from Aus.
Mrs Rugby’s mum sends 1000 bucks to Aus from Philippines.
Wise does two interbank transfers. One in each country. For free.
Charges us both 20 bucks in fees and a tiny spread on the exchange rate.
Pretty straightforward business model.
But there is way more demand for money going to the Philippines than back to the USA. Less than 1% in fees for an almost instant international transfer seems quite low.
XE rate:
Wise:
You just need enough seed money so you don’t need to do country to country transfers very often and a banking license in both countries so your country to country transfer is cheap. Banks that exist in multiple countries like HSBC have been doing this for a long time but only for ‘valued’ customers. Wise just brought that service to everyone.
Also. I had a big payment delayed for almost two weeks. Pretty sure they probably slow down customer balances where they need to in order to reduce the need for international transfers.
I don’t have any bitcoin, but I noticed it’s gone up a fair bit recently (36% in last month), and I think it’s appropriate to kick things when they are up, not just when they are down.
Where will bitcoin be in a month? No friggin idea.
With every exchange going under and a bunch being seized, the supply has cratered.
I have used Wise a few times for transferring Euro to Dollar or Dollar to Mexican Pesos and everything was on the up and up. I guess there is a period of a couple days where you’ve sent your transfer to them in the source currency and not received your transfer in the target currency that they could disappear and the rug could be pulled but I would guess this is less likely to happen there than with a Crypto exchange
Interesting everything is instant for another poster. It was definitely not for me but I had no need for speed and took their cheapest option.
I like how we stumble upon one of the few things bitcorn actually solves and the poors are like “wait but western union tho”.
I’m using it totally ironically, we’ve went over this multiple times. All these dudes work in tradfi and make upper six figures if not more lol.
I’m not gonna stop making the joke but goddamn spelling it out again after this might rub a little of the fun off.
As in “over $500k”?
Selling that one.
Ya +500k but that’s just an educated guess. I just know a bunch of these dudes work or worked in traditional finance from the horses’ mouths. It’s not like I obtained their doxx and contacted their workplaces or something.
