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What made Stripe, PayPal etc. to change view on Crypto?
Fees were obv. way to make money since Coinbase so that can't be it?
These companies were literally anti-crypto or not interested for years and in last years and this year they announced it a new "feature" , how is it possible that they were wrong for so long?
- prtkgpt 5y agoVolume of transactions and value of them. It’s a big number and it’s pure profit for them.
- colesantiago 5y agoWell, they are still wrong and there isn't anything new here. They just waited for a while and just needed a wink and a nod from the US regulators. The only thing that has changed is the number of people willing to pour their money into worthless tokens.
- jqpabc123 5y agoThey weren't "wrong" --- they were just worried about liability. The fraud is now widespread and rooted enough so that they can't reasonably be sued for having had any hand in helping create it or promote it. Crypto is defined by what it is *not*. It is not a functional currency or a commodity or a security or a store of value --- so what is it? It is an empty vehicle for pure speculation and fraud on multiple levels. Stripe, Paypal, etc. understand this but if people are determined to play the game, they're gonna get their piece of the transaction fees. If the risk is minimal, why not? This is pure opportunism --- not to be mistaken for buying into the concept that it is the future of money.
- kosasbest 5y agoThey didn't want to jump on the crypto bandwagon and give into the hype-cycle. Now (some forms of) crypto is recognized as actual money, so they had to change their minds eventually.