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This is great news. It's great that Stripe is willing to support decentralization, especially in the current environment. Fiat-to-crypto on-boarding has been a

This is great news. It's great that Stripe is willing to support decentralization, especially in the current environment. Fiat-to-crypto on-boarding has been a major pain point due to regulations. It has deprived an entire generation of opportunities to launch crypto-based businesses outside of the corporate and private equity sphere.

jongjong 4y ago
Seems I got downvoted... I guess Stripe giving the next generation access to opportunities is a bad thing?
wmf 4y ago
If Stripe can build a compliant on-ramp, you could have built the same thing years ago. Why didn't you?
- jongjong 4y ago
  1. Complying with regulations and dealing with banks costs too much money. All I have to invest is my time and skills as a developer. 2. Even if I built such product myself and paid all necessary costs, it wouldn't get any traffic. nobody would use it. These days, if you're a no-name company/developer without any special social connections, it will cost you a fortune to get a good rank on a search engine... The ranking algorithms are completely opaque. Social media influencers never respond to my messages, even if I offer to pay them money. Nobody ever answers any emails or messages these days. It's like talking to a wall.
- imtringued 4y ago
  I can't because of expensive regulations that mandate that you have multiple people educated in the old system. You need a banking license even if you don't want to do traditional banking with its traditional risks at all. You will hire people who know how to do traditional banking but not your innovative banking. I don't even mean cryptocurrencies specifically. There are plenty of different ways to implement money systems but the law only knows a specific one and it is the type that makes a lot of people unhappy and therefore it needs an ever growing list of regulations and interventions.

jongjong 4y ago

Seems I got downvoted... I guess Stripe giving the next generation access to opportunities is a bad thing?

wmf 4y ago

If Stripe can build a compliant on-ramp, you could have built the same thing years ago. Why didn't you?

jongjong 4y ago
1. Complying with regulations and dealing with banks costs too much money. All I have to invest is my time and skills as a developer. 2. Even if I built such product myself and paid all necessary costs, it wouldn't get any traffic. nobody would use it. These days, if you're a no-name company/developer without any special social connections, it will cost you a fortune to get a good rank on a search engine... The ranking algorithms are completely opaque. Social media influencers never respond to my messages, even if I offer to pay them money. Nobody ever answers any emails or messages these days. It's like talking to a wall.
imtringued 4y ago
I can't because of expensive regulations that mandate that you have multiple people educated in the old system. You need a banking license even if you don't want to do traditional banking with its traditional risks at all. You will hire people who know how to do traditional banking but not your innovative banking. I don't even mean cryptocurrencies specifically. There are plenty of different ways to implement money systems but the law only knows a specific one and it is the type that makes a lot of people unhappy and therefore it needs an ever growing list of regulations and interventions.