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> crypto is still completely non-viable as a real medium of exchange There are some projects which are attempting to fill in the "TradFi" gaps and support claw

by 22c 4y ago

> crypto is still completely non-viable as a real medium of exchange There are some projects which are attempting to fill in the "TradFi" gaps and support clawback at the protocol level. I am aware of at least this project but I believe there are others. https://developers.stellar.org/docs/glossary/clawback https://developers.stellar.org/docs/glossary/clawback (disclosure: I have like $10 of XLM).

rvz 4y ago
Maybe that explains why Moneygram, Stripe and many others have ignored Bitcoin, and Ethereum for their use case in payments and remittances and instead have chosen cryptocurrency technologies and chains like Stellar. This tells me that there are some that are more useful than others and will survive regulations and there are some that won’t. So the regular outcry about “crypto is still completely non-viable as a real medium of exchange” is just complete nonsense; parroted here once again.
- 22c 4y ago
  I'd say it's mostly a lack of understanding. Cryptocurrency != (bitcoin || ether). Problems that have been solved in a "Traditional Finance" setting (eg. clawback, chargeback, dispute resolution) are either solved or being worked on by many different cryptocurrency projects. The question which remains to be answered is whether or not cryptocurrency can solve problems that TradFi can't solve or can it solve them in a better way, or more efficiently, etc.
  - rvz 4y ago
    > The question which remains to be answered is whether or not cryptocurrency can solve problems that TradFi can't solve or can it solve them in a better way, or more efficiently, etc. The Stellar Network (and to some extent Algorand) seems to be more efficient than the current system and they aim to work with it as their solution(s) works faster, globally and cheaply, hence why Moneygram chose Stellar for its new product and why Stripe removed Bitcoin payments and re-entered again until regulations were clearer and more cryptocurrencies were available. Not all cryptocurrency technologies are the same.

by 22c 4y ago

rvz 4y ago

Maybe that explains why Moneygram, Stripe and many others have ignored Bitcoin, and Ethereum for their use case in payments and remittances and instead have chosen cryptocurrency technologies and chains like Stellar. This tells me that there are some that are more useful than others and will survive regulations and there are some that won’t. So the regular outcry about “crypto is still completely non-viable as a real medium of exchange” is just complete nonsense; parroted here once again.

22c 4y ago
I'd say it's mostly a lack of understanding. Cryptocurrency != (bitcoin || ether). Problems that have been solved in a "Traditional Finance" setting (eg. clawback, chargeback, dispute resolution) are either solved or being worked on by many different cryptocurrency projects. The question which remains to be answered is whether or not cryptocurrency can solve problems that TradFi can't solve or can it solve them in a better way, or more efficiently, etc.
- rvz 4y ago
  > The question which remains to be answered is whether or not cryptocurrency can solve problems that TradFi can't solve or can it solve them in a better way, or more efficiently, etc. The Stellar Network (and to some extent Algorand) seems to be more efficient than the current system and they aim to work with it as their solution(s) works faster, globally and cheaply, hence why Moneygram chose Stellar for its new product and why Stripe removed Bitcoin payments and re-entered again until regulations were clearer and more cryptocurrencies were available. Not all cryptocurrency technologies are the same.