3 ms·
What fascinated me about Bitcoin in the first place was the idea of having money as a first class citizen on the net. Well, we know this didn’t really became re
by bhaak 6y ago
What fascinated me about Bitcoin in the first place was the idea of having money as a first class citizen on the net. Well, we know this didn’t really became reality.
Today, we still can’t easily and frictionless send money to a website. Just think about what this means for online journalism.
That you mention “checks” suggests that you are a person living in the US. I can tell you that even as a European, I often hit a paywall where I couldn’t even pay if I were willing to go through the hassle of paying by credit card.
PayPal helps a bit but having one centralized service means there is no real competition.
- xur17 6y ago> I can tell you that even as a European, I often hit a paywall where I couldn’t even pay if I were willing to go through the hassle of paying by credit card. And even if you can pay, you have to give your full name, address, phone number, and credit card number in order to be able to pay. Then the merchant has to pay a ~3% fee to accept the payment, run your personal data through some machine learning algorithm to try and prevent someone from using your stolen credentials, and still receive chargebacks some percentage of the time. I really wish there was a widely adopted payment system that acted like cash on the internet (instant, irrevocable, low fees, privacy preserving, stable value). Crypto actually has a chance at solving this, but nothing so far actually checks all of these boxes as far as I know.