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My focus was payments (newegg was the original example), and I was comparing credit cards to crypto. But let me ask: why use zelle to move money between accou
by meepmorp 5y ago
My focus was payments (newegg was the original example), and I was comparing credit cards to crypto.
But let me ask: why use zelle to move money between accounts? Why not crypto? Or let's say you're sending money to a friend to split a check or something; would you use crypto vs any of the other "cash" transfer mechanisms?
I don't think that existing financial systems can't and shouldn't be replaced with something better, but so far cryptocurrency ain't it. I should also say that I'm not particularly susceptible to the ideological arguments on its behalf, which seem to be a big bonus for many. Maybe it's just not for me.
- mech422 5y agoFair enough... My bank/brokerage doesn't take crypto. So Zelle is the next best thing given how slow and expensive wiretransfer/ACH is. (Wasn't wire transfer supposed to be 'fast', it generally seems slower then ACH?). And yes, I do use crypto to send 'cash' to friends. I do agree wholeheartedly with your statement crypto isn't ready 'for the masses' yet. For one thing, no coin can handle anywhere near the transactions Visa can. But I don't see that as a reason to vilify it, shut it down, or pretend that only criminals use it. In HN vernacular, I see crypto's as 'startups' - some will pan out, the vast majority won't. Hopefully, each generation of coin will improve on the ones before it. as for "just not for me" - I'm only putting beer money in. I think most of us that have been in it for a while are in that position. Certainly none of us are out mortgaging our houses. Being skeptical of the hype is a good thing. Maybe in a few years/generations crypto will be in a place that's more useful to you :-) edit: formating s/any/and/