Sucking blood in term of finance: $33 Billion of Remittance fee

Someone tweeted about some crypto shilling:

The World Bank estimates that 7.57% of each remittance transaction goes toward transfer fees. This means that the fee levied on remittance going to the developing world will likely amount to more than $33 billion in 2017.

To have a more vivid idea of how much does $33B worth in term of crypto:

• Total marketcap for crypto is $209B now and the all-time-high was about $800B. $33B is close to 15% of all the crypto combined.


• It is 60% more than what Ethereum worth($21B)


• It is 83% more than what Ripple worth($18B)


• It is 164 times bigger than what Steem worth($200M)

The fee alone could make 164 more project that worth the same as Steem while the project like those could largely aim to eliminate the traditional bank fee. Mind-blowing.

These blood-sucking fee are mainly the feeder to bank and banker and somehow I can relate their dislike towards the crypto. Whales already are sending multimillion worth of coins globally with a few cents of fee, if not free at all. Stop whining on your red crypto investment portfolio and think about that for a second.

Blockchain is ground-breaking, and I’m certain banks are on the ground.

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