I can send money to anyone I want to, I have no expectation of censorship or interference. The fees are low to zero depending on the exact method, and I don't have to jump through hoops to try to interact with a crypto-currency broker. I have protections, insurance and various forms of reversibility to fall back on if something screws up.
For me it's not huge, or even really relevant.
Except for donations to WikiLeaks. Or if you want to buy weed in one of the many states where it's legal. Or if the recipient's Paypal account has been frozen.
> The fees are low to zero depending on the exact method
Chase bank charged me $25 to send a wire transfer recently. Credit cards and Paypal charge me 3% to 5% when I sell something online.
> and I don't have to jump through hoops
When I sent that wire, I was required to answer slew of questions from a Chase representative including "What is this transaction for?" and "Do you plan to transact with this company again?"
> I have protections, insurance and various forms of reversibility
Perhaps as a buyer, but as a merchant, chargebacks are a nightmare.
> For most people, not really.
Huh. Most people I know detest banks and don't like the idea of handing over complete control of their money to someone else.
There just haven't been any alternatives until now.
These are not pressing use-cases for me.
>> When I sent that wire
It appears your banking service is a bad one, I have had none of these problems, even transferring large amounts between countries.
>> Perhaps as a buyer, but as a merchant, chargebacks are a nightmare.
Yet without them, many buyers would have given up buying online by now, chargebacks and buyer protections allow the online marketplace to function.
I think what you might have there is (yet another) criticism of how backwards the US market is.