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As a 13 year old programmer learning to code in 2005, transferring money online seemed impossible, this was pre-stripe after all. A 13 year old getting a bank p

As a 13 year old programmer learning to code in 2005, transferring money online seemed impossible, this was pre-stripe after all. A 13 year old getting a bank partnership or a payment processor deal seemed a bit out of reach as well. These days though, sending money online via stable coins like $USDC over a fast and cheap block chain like Solana, Polygon, avalanche, etc is not only possible but flat out inevitable.

evan_ 5y ago
13 year olds used PayPal in 2005 just like everyone else.
aroman 5y ago
And, Stripe now exists, so the problem is mostly solved on "web2", no? What does Stripe (and similar products) not offer that $USDC could?
- josephmoniz 5y ago
  Stripe fees are higher than Solana $USDC transaction fees. You also don’t have to worry about getting your account shut down or funds frozen. I once worked for a YC company, LendUp, and we started off using Stripe for accepting payment but had to stop because the policies of their partner bank at the time disallowed servicing of our types of transactions. We spent a large chunk of time integrating with many different payments processors on and off, it was rough. In summary, web3 has the potential to be and already is, cheaper, faster, and permissionless.
marcan_42 5y ago
As a 14 year old programmer and tinkerer in 2004, I had no problem buying a Helium-Neon laser for an experiment and paying via PayPal. As an 18 year old tinkerer and hacker in 2008, I had no problem signing up to take payments via PayPal and running a little side thing selling home-assembled widgets out of my bedroom. And as horrible as PayPal is, cryptocurrencies have even more friction and risk.
- josephmoniz 5y ago
  > And as horrible as PayPal is, cryptocurrencies have even more friction and risk. This comparison with PayPal is perfect. The way I see it, ACH and wire transfers are to PayPal what cryptocurrencies are to startups and tech that is being built right now. The reasons why cryptos have more friction at this point of time is because the PayPals of crypto are being built and distributed. I see a future where creating a wallet and accepting crypto payment will be faster, easier and cheaper than signing up for Venmo or Square Cash.

evan_ 5y ago

13 year olds used PayPal in 2005 just like everyone else.

aroman 5y ago

And, Stripe now exists, so the problem is mostly solved on "web2", no? What does Stripe (and similar products) not offer that $USDC could?

josephmoniz 5y ago
Stripe fees are higher than Solana $USDC transaction fees. You also don’t have to worry about getting your account shut down or funds frozen. I once worked for a YC company, LendUp, and we started off using Stripe for accepting payment but had to stop because the policies of their partner bank at the time disallowed servicing of our types of transactions. We spent a large chunk of time integrating with many different payments processors on and off, it was rough. In summary, web3 has the potential to be and already is, cheaper, faster, and permissionless.

marcan_42 5y ago

As a 14 year old programmer and tinkerer in 2004, I had no problem buying a Helium-Neon laser for an experiment and paying via PayPal. As an 18 year old tinkerer and hacker in 2008, I had no problem signing up to take payments via PayPal and running a little side thing selling home-assembled widgets out of my bedroom. And as horrible as PayPal is, cryptocurrencies have even more friction and risk.

josephmoniz 5y ago
> And as horrible as PayPal is, cryptocurrencies have even more friction and risk. This comparison with PayPal is perfect. The way I see it, ACH and wire transfers are to PayPal what cryptocurrencies are to startups and tech that is being built right now. The reasons why cryptos have more friction at this point of time is because the PayPals of crypto are being built and distributed. I see a future where creating a wallet and accepting crypto payment will be faster, easier and cheaper than signing up for Venmo or Square Cash.