Also consider that hundreds of millions of people in the world cannot do simple banking. Yet they have access to a smart phone. The Bitcoin environment allows those people to transact, transfer, and save small amounts of money that normal banks would simply dismiss.
I have to chuckle at the people who want to tax remittances out of the US by immigrants. I would suggest that MOST immigrants have moved to crypto because it’s cheaper, easier, faster, and it’s not going to be blocked or taxed by any government.
Remember how the Canadian truckers were penalized by debanking? That stuff cannot happen in a bitcoin environment. Governments use banking and taxes as weapons to get what they want—and to direct the herds. Bitcoin destroys that ability.
What you say is true. Add to that it is a great device to launder money. Thus the reason the immigrants have an interest in it.
“I have to chuckle at the people who want to tax remittances out of the US by immigrants. I would suggest that MOST immigrants have moved to crypto because it’s cheaper, easier, faster, and it’s not going to be blocked or taxed by any government.”
Over $60 million a year sent by non crypto methods. Doesn’t sound like most immigrants have moved to crypto.
And neither will a 3% tax move them.