1: https://data.worldbank.org/indicator/BX.TRF.PWKR.DT.GD.ZS?lo... 2: https://www.imf.org/external/pubs/ft/bop/2005/05-09.pdf
Good things happen when people have more money in their pockets - people save more, invest more, build more.
I would argue that the population who can now operate and opt-out of a USD system where their money is being debased by 20%+ in the last year by a foreign government will be quite a bit better off.
You know Bitcoin has taken a 40% tumble in the last month, right?
The US created 20% of all the dollars that have ever been created, ever– last year. This is infinitely more harmful than a reduction in price compared to another currency.
Additionally ill ignore your point completely and only address Z now.
That's a big if. Bitcoin transfer fees might be cheaper, but you need to add the cost of converting dollars to bitcoin, plus the volatility of the coin, plus any fees from intermediaries and Lightning nodes.
> Good things happen when people have more money in their pockets
High amount of remittances are not a cause, but a symptom of underlying problems. Would you be as cavalier about the effects of this on ES economy if it was, say, Western Union saying they'd reduce 10% their transfer fees?
It's always the same thing with Bitcoin, apparently it's such a great technology that it can change anything despite the fact that the only "new" thing it can do is to be decentralized. Somehow the argument always ends up being that decreased transfer fees will revolutionize everything (despite the fact that transfer fees might not be lower, and that we've had continuously decreasing transfer fees for years and yet that didn't seem to bring any revolution).
Seems like a no-brainer win though? Even if it doesn’t revolutionize the country
So many conversations with Bitcoin advocates involve them putting ridiculous statements into the mouths of others.
No one said that or anything like it.