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Comment by bidandanswer | Hacker News Reader

Try sending $10k to a US lawyer from outside the US. Takes a lot of time and money. Do it on chain. Takes 400ms and costs a fraction of a penny.

> Engineers writing the code that is used to pay them?

The DAO is not the smart contract.

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We send money to US lawyers all the time via Wise. It's near instant. Obviously we had to verify the company identity, but that's also true for every legal exchange.

I think OP's point about it being faster and cheaper stands.

What exactly are you trying to say?

It's nearly instant and costs €0.50 + 0.56% of the transfer, not exactly breaking the bank.

Wow, that's horrible. Sending $1m nets $560 in fees.

That's like 5.6 million times worse than typical Solana fees.

That's a Michelin-star meal. Or two.

~$5,600.

> That's like 5.6 million times worse than typical Solana fees.

And how much will it cost to get move into and out from SOL?

Nothing. Send USDC to Circle, Coinbase, or any centralized exchange for a fraction of a penny. Swap to USD for free. ACH transfer to bank for free.

And how much does it cost to get USDC from Euro and then back to USD on the other end?

Let's be honest, if it was cheaper and faster, it would be the standard, right?

Nothing. It's probably cheaper to swap Euro stable -> USDC on chain than whatever fees your banks charge you.

Additionally, if you're building a legitimate business on chain, then all your cash is already on chain.

> Let's be honest, if it was cheaper and faster, it would be the standard, right?

Except that the US regulatory system hates crypto for some reason. SEC has repeatedly denied requests from coinbase for regulation. Like wtf?

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