3 ms·

I have to wonder what these coins actually offer the consumer. If they’re to be used as a real world currency for transactions, they would need to have some uti

by jf- 8y ago

I have to wonder what these coins actually offer the consumer. If they’re to be used as a real world currency for transactions, they would need to have some utility over credit/debit cards. I don’t see what that utility is. I can already make instantaneous purchases via contactless, and while there is a fee for international purchases, it’s not large enough, nor do I encounter it frequently enough, for me to look for an alternative. Why as an ordinary consumer would I bother with these?

jatsign 8y ago
An ordinary consumer wouldn't. For me, likely use cases are: - Transmitting money overseas. This should be way cheaper. - Vendors who are tired of paying 2.5% to credit card companies giving a discount to using crypto.
- jf- 8y ago
  That seems more like an argument for a cheap foreign exchange service, of which I believe there are several now.
  - celticninja 8y ago
    But they are no where near as easy to use as cryptocurrency. Back in 2010/2011 I used bitcoin to buy stuff from China, I was paying something ridiculous to do the same thing via traditional banks in fees and poor exchange rates. Even now these foreign exchange services make it better but only for larger transactions. Small/medium transactions still pay a ridiculous rate/fee compared to cryptocurrency. Further exacerbated if the recipient has difficulty obtaining banking facilities.
- atomical 8y ago
  > Transmitting money overseas Curious to know if this will follow AML laws. Imagine you send a USDC coin to a person overseas. It then is sent to a few other people and then someone tries to cash it out in the US again. Couldn't Coinbase decide that the chain of send/receives is illegal with chain analysis?