I hear this a lot, but I’m not sure how true it is. Or at least, I’m not sure it’s comparing like to like.
If I transfer money home, Western Union takes a cut, yeah - but Western Union lets me give pounds in Britain and have my mother in Uttar Pradesh pick up Rupees.
If I want to do that with Bitcoin, I need to use two exchanges, each of which take their cut. What’s more, I also need to find someone in her country willing to pay her cash for her bitcoins. What are the chances of that?
Bitcoin is great for sending bitcoins abroad - but I’m not so sure about sending money.
Jane Jacobs, The Death and Life of Great American Cities (1961, Vintage)
While middle class flight is less of an issue nowadays, afaik, the case for protecting and nurturing the poor of a city still needs to be made with resounding force even today. With every person evicted from Tower Hamlets for Stoke-on-Trent, London hurts it’s future.