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> With crypto, you can create a wallet in seconds and immediately start accepting payment. I think this demonstrates the massive gap between crypto people and
by PragmaticPulp 5y ago
> With crypto, you can create a wallet in seconds and immediately start accepting payment.
I think this demonstrates the massive gap between crypto people and the general public. If you already have all of the crypto stuff set up, secured, understood, in the right cryptocurrency, and ready to go then it can be a quick transaction (after waiting for the transaction to clear).
But for the average person, the overhead of diving into the cryptocurrency world is far more than "in seconds". It also comes with a lot of fees and issues at every step along the way. Sending BTC or ETH to someone is actually a very expensive endeavor right now, often more than just the $5/month Patreon tiers. And then there are transaction fees along the way to buy into crypto, and the recipient has to cash out the crypto, pay exchange fees, and deal with taxes.
In the theoretical all-crypto world where everyone agrees to use some future perfectly efficient, decentralized blockchain, this might make sense. In the real world, it doesn't hold up at all.