I don’t believe there are any overhead costs in traditional banking system. It’s in fact much cheaper since it involves a mere ledger update and probably a message passing system. The prices are jacked up mainly because they are a monopoly and there is an opportunity to profit.
In countries like China and India, they have seamless payments Infrastructure that scales for 1+ billion ppl with no fees and no issues.
BitcoinLuffy / Bitcoin Luffy
npub1eq…033gt
2023-04-08 21:36:18
in reply to nevent1q…5snv
Author Public Key
npub1eq063z9pcyh6xa22ukh9rwqf95shaje64zszvglhavdflp7q7wysl033gtPublished at
2023-04-08 21:36:18Event JSON
{
"id": "631ec2a9ae942d340da930bb08f488813e9ba4e9027cd36e16dd9202e9b5dfd7",
"pubkey": "c81fa888a1c12fa3754ae5ae51b8092d217ecb3aa8a02623f7eb1a9f87c0f389",
"created_at": 1680989778,
"kind": 1,
"tags": [
[
"e",
"886fe1e7bdbe83d31fdb5a835e8d6a4add437ca99e26dfde622b956950537ae4"
],
[
"p",
"5cee869cb84d2ff28e5e83c9bff124a9db0285edf430d971b3c132752014b07a"
]
],
"content": "I don’t believe there are any overhead costs in traditional banking system. It’s in fact much cheaper since it involves a mere ledger update and probably a message passing system. The prices are jacked up mainly because they are a monopoly and there is an opportunity to profit. \n\nIn countries like China and India, they have seamless payments Infrastructure that scales for 1+ billion ppl with no fees and no issues.",
"sig": "b7e847978d20377c07c38619910f2dca6910ad2a43510360ce0d2e2fd8910d9d7760796d5fad7e194c52a86289f72864b5e5025643c6ff749793b68e35512c3c"
}