4 ms·

Does anyone else associate "crypto" with "scam" these days? How is this good for them or their brand? I used to think Stripe's team cared about technical excel

Does anyone else associate "crypto" with "scam" these days? How is this good for them or their brand? I used to think Stripe's team cared about technical excellence and generally had good ideas. With their first announcement into this space and now this I'm less inclined to think so and will avoid their business as much as I can.

timbit42 5y ago
I associate crypto with cryptography.
ChrisArchitect 5y ago
Totally. Also hell of a thing to announce on Earth Day.
- capableweb 5y ago
  Not sure if you missed the details of the announcement but they are doing the payouts on Polygon, which is not a Proof of Work network (the technology that is harmful for the environment).
  - agentultra 5y ago
    ... it's not on PoS yet and it was delayed again. It's been delayed since 2016 or so (I can't remember the first time they announced it was just around the corner). There's also no guarantee that the PoW chain won't simply continue in yet another fork because profits.
    - deleted 5y ago
      [deleted]
    - capableweb 5y ago
      No, Polygon is 100% PoS and always has been. You're talking about Ethereum. Stripe themselves (in the very blogpost the submission links to no less) mention that they are using Polygon (which is PoS): > Payouts will take place over the Polygon network
    - aaaaaaaaata 5y ago
      Keybase is owned by some awful conglomerate now, I wouldn't continue using them.
sweetbitter 5y ago
I associate "crypto" with "low fees" and "strong sender anonymity" and "transaction privacy". Really, I view it, especially those like Monero, as humanitarian money- something to act as our digital cash in the absence of sensible governments who would adopt central-but-private systems like GNU/Taler. Disclaimer: I don't hold any cryptocurrency unless I need to buy something with it :)
- samhw 5y ago
  > I associate "crypto" with "low fees" Well, sure, that's because it's not doing anything. It can't be used for any of the purposes that money serves -- unless you live next to a matcha cafe in Berkeley or whatever -- and so it inevitably begets a bank/payment-network transaction in order to actually be spent or saved. Or, as you put it: > I don't hold any cryptocurrency unless I need to buy something with it :) [...] To be clear: I'm not an anti-crypto person, and I think it's as stupid to rage against a technology as it is to rage for it. I believe in the promise of digital cash. But first the candidate technology needs to satisfy the needs it's trying to serve, and none of the current breed of digital currencies (or none of which I'm aware) seem capable of doing that.

timbit42 5y ago

I associate crypto with cryptography.

ChrisArchitect 5y ago

Totally. Also hell of a thing to announce on Earth Day.

capableweb 5y ago
Not sure if you missed the details of the announcement but they are doing the payouts on Polygon, which is not a Proof of Work network (the technology that is harmful for the environment).
- agentultra 5y ago
  ... it's not on PoS yet and it was delayed again. It's been delayed since 2016 or so (I can't remember the first time they announced it was just around the corner). There's also no guarantee that the PoW chain won't simply continue in yet another fork because profits.
  - deleted 5y ago
    [deleted]
  - capableweb 5y ago
    No, Polygon is 100% PoS and always has been. You're talking about Ethereum. Stripe themselves (in the very blogpost the submission links to no less) mention that they are using Polygon (which is PoS): > Payouts will take place over the Polygon network
  - aaaaaaaaata 5y ago
    Keybase is owned by some awful conglomerate now, I wouldn't continue using them.

sweetbitter 5y ago

I associate "crypto" with "low fees" and "strong sender anonymity" and "transaction privacy". Really, I view it, especially those like Monero, as humanitarian money- something to act as our digital cash in the absence of sensible governments who would adopt central-but-private systems like GNU/Taler. Disclaimer: I don't hold any cryptocurrency unless I need to buy something with it :)

samhw 5y ago
> I associate "crypto" with "low fees" Well, sure, that's because it's not doing anything. It can't be used for any of the purposes that money serves -- unless you live next to a matcha cafe in Berkeley or whatever -- and so it inevitably begets a bank/payment-network transaction in order to actually be spent or saved. Or, as you put it: > I don't hold any cryptocurrency unless I need to buy something with it :) [...] To be clear: I'm not an anti-crypto person, and I think it's as stupid to rage against a technology as it is to rage for it. I believe in the promise of digital cash. But first the candidate technology needs to satisfy the needs it's trying to serve, and none of the current breed of digital currencies (or none of which I'm aware) seem capable of doing that.