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> Who cares how it's done on the bookkeeping side? I care about my account being lowered by the amount of crypto something has cost me and getting the service /
by Mo3 4y ago
> Who cares how it's done on the bookkeeping side? I care about my account being lowered by the amount of crypto something has cost me and getting the service / goods I want.
Anybody who understands what cryptocurrency is supposed to be should definitely care about it. There is nothing crypto about these cards, they just liquidate some of your crypto collateral to settle in fiat. You could do this yourself, or use any other random credit card. It's a convenience, but is literally the anti-thesis of cryptocurrency, and/or has nothing to do with cryptocurrency in the first place. The cards are ran by a financial institute or bank and the collateral could be anything.
Sure, the card and its convenience and functionality has value. Cryptocurrency plays zero part in it. Funnily enough, what you see as value here is provided by the fiat system and not by cryptocurrency.
- tiborsaas 4y agoI know the tech very well, but I really don't care about how it's settled under the hood. > Cryptocurrency plays zero part in it. Except backing your payment, it really doesn't. > It's a convenience And convenience is value. Not inherently by crypto, but the fact it's possible is an extra benefit. Would you also object that if I spend EUR for a product online in GBP then the seller is not getting EUR?
- Mo3 4y ago> Except backing your payment, it really doesn't. I think this is the point I was trying to make as well. Obviously this service has value, but not because of cryptocurrency, which was the matter of discussion
- tiborsaas 4y agoSo where does the value come from? The service has an additional value to convert my crypto to fiat quickly, but as transaction fees goes it's marginal.