Author Topic: Remittio offers universal off ramps for BitShares and Steemit  (Read 5008 times)

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Offline blahblah7up

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Re: Remittio offers universal off ramps for BitShares and Steemit
« Reply #15 on: November 22, 2016, 10:08:16 am »
Also I don't think you are saying the whole truth about transwire fees, in most curencies they are much higher than what you claim
https://transferwise.com/pricing#?from=USD&to=EUR

I didn't make a claim about "most currencies". I gave a specific example. Using the link you provided, a EUR to USD transfer of 1000 EUR is charged 0.5% and that's it.  No other cost. But I appreciate that you pointed out that it is not the same for all the different conversions.

How much btc and bts will the recipient get if you sent him 1 btc and 1.000 bts with transferwise?

This is funny, but I am talking about the remittance market.  Here is a quote from the Remittio webpage:

"Created for the unbanked and underbanked who need an affordable and reliable banking alternative"

How many migrant workers do you think are being paid in BTC?  How many are being paid in BTS? If a peruvian house-cleaner in Rome is being paid in BTC or BTS then this service is still just an average service on a cost-per-remittance basis.

As it is, potential remittance customers must be incentivized not just to use your service, but to enter crypto altogether, and that also has an exchange cost associated with it - making the whole process even more expensive. If you can offer remittances at prices of which crypto is capable - like 10 cents per transfer or something - then remittance customers will flood into crypto, because it is that much cheaper. Otherwise remittance customers will stay in fiat even if your remittance product is slightly more competitive, because there is also a time/hassle-cost associated with the conversion to crypto.

And a wall one brick high won't keep out a single wascally wabbit.
But add another brick or two in the wall and, who knows?

This doesn't make any sense to me. You're trying to keep people out of your service?

Offline chryspano

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Re: Remittio offers universal off ramps for BitShares and Steemit
« Reply #16 on: November 22, 2016, 11:55:11 am »
Also I don't think you are saying the whole truth about transwire fees, in most curencies they are much higher than what you claim
https://transferwise.com/pricing#?from=USD&to=EUR

I didn't make a claim about "most currencies". I gave a specific example.

Yes, I know. But you selectively choose the lowest transfer fee from transwire for your example fully  ignoring the rest 1% 1,5% and 2,5% of their fees.


How much btc and bts will the recipient get if you sent him 1 btc and 1.000 bts with transferwise?

This is funny, but I am talking about the remittance market.  Here is a quote from the Remittio webpage:

"Created for the unbanked and underbanked who need an affordable and reliable banking alternative"

How many migrant workers do you think are being paid in BTC?  How many are being paid in BTS? If a peruvian house-cleaner in Rome is being paid in BTC or BTS then this service is still just an average service on a cost-per-remittance basis.

As it is, potential remittance customers must be incentivized not just to use your service, but to enter crypto altogether, and that also has an exchange cost associated with it - making the whole process even more expensive. If you can offer remittances at prices of which crypto is capable - like 10 cents per transfer or something - then remittance customers will flood into crypto, because it is that much cheaper. Otherwise remittance customers will stay in fiat even if your remittance product is slightly more competitive, because there is also a time/hassle-cost associated with the conversion to crypto.

Migrant workers might not care about crypto but for anyone else who does care, transferwise offers no service, remittio does!



Offline blahblah7up

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Re: Remittio offers universal off ramps for BitShares and Steemit
« Reply #17 on: November 22, 2016, 12:33:02 pm »
Yes, I know. But you selectively choose the lowest transfer fee from transwire for your example fully  ignoring the rest 1% 1,5% and 2,5% of their fees.

This is presumptuous. No, I simply chose the remittance conversion I personally use most frequently.

In addition to the general criticisms levied against this new remittance offering I am also personally disappointed because I would have used their service if the conditions were favorable.

Offline yvv

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Re: Remittio offers universal off ramps for BitShares and Steemit
« Reply #18 on: November 22, 2016, 03:26:31 pm »
There is no way remitto or other crypto startup can compete with traditional services on remittance market, because there are plenty of them and there are very good ones. Remitto makes sense only as off-ramp from crypto to fiat, and  according to the OP title, topic starter realizes this. He just did not bother to edit copypasted text from loaddebitcard.com before this announcement.

Offline Stan

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Re: Remittio offers universal off ramps for BitShares and Steemit
« Reply #19 on: November 23, 2016, 12:57:20 am »

And a wall one brick high won't keep out a single wascally wabbit.
But add another brick or two in the wall and, who knows?

This doesn't make any sense to me. You're trying to keep people out of your service?

<heavy sigh>

You are evaluating the potential of a single brick in the wall without considering the yet to be revealed ultimate functionality of the wall.

You need to think BIGGER, Pinky.
« Last Edit: November 23, 2016, 12:59:05 am by Stan »
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline Stan

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Re: Remittio offers universal off ramps for BitShares and Steemit
« Reply #20 on: November 23, 2016, 01:18:17 am »
There is no way remitto or other crypto startup can compete with traditional services on remittance market, because there are plenty of them and there are very good ones. Remitto makes sense only as off-ramp from crypto to fiat, and  according to the OP title, topic starter realizes this. He just did not bother to edit copypasted text from loaddebitcard.com before this announcement.

There are highly probable alternative universes in which such a "no way" assumption may turn out to have been presumptuous.

Next you will be telling us that there is no way that Donald Trump can be elected president.


Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline yvv

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Re: Remittio offers universal off ramps for BitShares and Steemit
« Reply #21 on: November 23, 2016, 01:30:42 am »
There is no way remitto or other crypto startup can compete with traditional services on remittance market, because there are plenty of them and there are very good ones. Remitto makes sense only as off-ramp from crypto to fiat, and  according to the OP title, topic starter realizes this. He just did not bother to edit copypasted text from loaddebitcard.com before this announcement.

There are highly probable alternative universes in which such a "no way" assumption may turn out to have been presumptuous.

Next you will be telling us that there is no way that Donald Trump can be elected president.


I am not sure what has Donald Trump to do with this, but to outcompete "other" remittance services you need to make transfers dirt cheap, instant and world wide. This is not assumption or presumption, this is reality. Good luck with that.

Offline Brekyrself

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Re: Remittio offers universal off ramps for BitShares and Steemit
« Reply #22 on: November 23, 2016, 03:10:49 am »
Any time-frame of when the blueprints of the wall will be revealed?

Offline nomoreheroes7

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Re: Remittio offers universal off ramps for BitShares and Steemit
« Reply #23 on: November 23, 2016, 02:41:45 pm »
Any time-frame of when the blueprints of the wall will be revealed?
  |
  |
  |
 ▽   ....?

Offline Stan

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Re: Remittio offers universal off ramps for BitShares and Steemit
« Reply #24 on: November 23, 2016, 08:07:34 pm »
Any time-frame of when the blueprints of the wall will be revealed?
  |
  |
  |
 ▽   ....?


Yes.  We share your frustration at the delays in threading this needle. 
As Hans Solo often said, "It's not my fault!".

:)


« Last Edit: November 23, 2016, 08:10:10 pm by Stan »
Anything said on these forums does not constitute an intent to create a legal obligation or contract of any kind.   These are merely my opinions which I reserve the right to change at any time.

Offline Brekyrself

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Re: Remittio offers universal off ramps for BitShares and Steemit
« Reply #25 on: May 22, 2017, 05:25:07 am »
Has anyone used this service yet?  Remittio.com and https://www.loaddebitcard.com/ are taking forever to load pages, almost impossible to navigate at the moment.


Offline chryspano

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Re: Remittio offers universal off ramps for BitShares and Steemit
« Reply #26 on: May 22, 2017, 08:31:26 am »
Remittio.com and https://www.loaddebitcard.com/ are taking forever to load pages, almost impossible to navigate at the moment.

This happens to me too

Offline Brekyrself

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Re: Remittio offers universal off ramps for BitShares and Steemit
« Reply #27 on: June 08, 2017, 11:04:15 pm »
No one here has used this?

Offline Murderistic

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Re: Remittio offers universal off ramps for BitShares and Steemit
« Reply #28 on: June 10, 2017, 03:16:46 am »
We have been busy at Remittio, refining our message and figuring our the best ways to serve our customers needs.  We are now focusing on consumers by moving to zero fees (in the next week or so), and focusing on merchants wishing to settle their digital currency with a push of the button.