Dear Apostolos Topalidis,

Thank you for taking the time to read my work and thank you for making the effort to contribute to the conversation.

I would suggest that given the current state of art, it’s impossible yet to pass judgment on cryptocurrencies as either superior or inferior — rather they are still in a phase of development.

And as you rightly point out, the use of credit cards and bank transfers is far from satisfactory.

I had the dubious privilege of using a large multinational money transfer company recently to transfer US$60. The fees came up to US$30 or a whopping 50% of the cost of the transaction.

Because of such minimum fees, the percentage loss in terms of slippage is ludicrous.

While cryptocurrencies (in their current state) are far from the silver bullet that we may be looking for, at the very least, we are looking and I believe that that in and of itself is already part of the solution.

As always, thank you for your commentary and I look forward to hearing from you again.

Yours,

Patrick