While painful for startups involved, this is a great long-term development. More bitcoin-centric remittance startups will perish if they don't do homework on how competitive remittances are. Those startups and their investors who keep repeating 20th century's cliches that "banks are evil" "Western Union missed telefony" "incumbents are slow" will experience shocking reality and disappear. But startups that do research and spend lots of time learning from consumers will have a fighting chance to build something useful for masses.

If you have friends in bitcon-based remittance startups, ask them one question: what is the average and lowest margin (fee + FX markup) in one of the world's top-10 corridors: USA-to-India? Then check their answer vs. our site, https://www.SaveOnSend.com/, or the attached table. Accuracy of the response might be a good indication of their chances for survival.