5 ms·

You have no idea what you're talking about, right? https://www.axios.com/2023/05/11/stripes-crypto-strategy https://www.axios.com/2023/05/11/stripes-crypto-stra

by anon1199022 3y ago

You have no idea what you're talking about, right? https://www.axios.com/2023/05/11/stripes-crypto-strategy https://www.axios.com/2023/05/11/stripes-crypto-strategy "Accepting money is one thing, but paying out money to the rest of the world — especially long-tail countries with poor banking rails is another thing," he said. "It works better than fiat payments in a lot of cases," he added."

toomuchtodo 3y ago
Okay ¯\_(ツ)_/¯ If you want to bet $10k on the success of this, outline the success criteria and deadline for evaluation of the bet and we'll spin up a Long Bet [1]. Stripe talks a lot, while TranferWise (among others) gets shit done wrt cross border payments on real rails. Crypto is slowly dying while central banks raise rates globally, making the casino attempt at yield unpalatable (most crypto trading was gambling). Africa, for example, is going digital payments faster than some developed countries [2] [3]. Stripe's problem (along with Visa and Mastercard for that matter) is that developing countries are leapfrogging developed world financial infra, and owning it themselves to prevent "light colonization" of this critical financial infra. This compresses the global TAM for the for profit folks who are skimming off rails volume. [1] https://longbets.org/ https://longbets.org/ [2] https://www.mckinsey.com/industries/financial-services/our-insights/the-future-of-payments-in-africa https://www.mckinsey.com/industries/financial-services/our-i... [3] https://papss.com/ https://papss.com/
- anon1199022 3y ago
  [flagged]
  - toomuchtodo 3y ago
    So you don't want to take the bet? Signals not much faith in your ideology and thesis. Accountability is important if attempting to predict the future. I believe you believe, but not enough to put value at risk.
    - AlchemistCamp 3y ago
      Or it signals that 10k is an insignificant amount of money to you, but not everyone else on the forum. Having a lot of money is likely a signal that you're good at your job, but it's not a signal that you're right about everything.
- rvz 3y ago
  Of course, moving the goal-posts are we? > "Stripe talks a lot, while TranferWise (among others) gets shit done wrt cross border payments on real rails." Stripe has also shipped theirs though and it is available and is in use. [0] So have Moneygram [1], Visa [2], Checkout.com [3], PayPal [4] and beyond payments, Walmart Canada is using one right now. [5] The fact is, they are using blockchains and they are not going away (or dying) anytime soon, like it or not. [0] https://stripe.com/gb/use-cases/crypto https://stripe.com/gb/use-cases/crypto [1] https://stellar.org/products-and-tools/moneygram https://stellar.org/products-and-tools/moneygram [2] https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.19881.html https://usa.visa.com/about-visa/newsroom/press-releases.rele... [3] https://www.checkout.com/solutions/crypto https://www.checkout.com/solutions/crypto [4] https://www.paypal.com/us/digital-wallet/manage-money/crypto/pyusd https://www.paypal.com/us/digital-wallet/manage-money/crypto... [5] https://hbr.org/2022/01/how-walmart-canada-uses-blockchain-to-solve-supply-chain-challenges https://hbr.org/2022/01/how-walmart-canada-uses-blockchain-t...
  - toomuchtodo 3y ago
    I don't believe crypto is the future of payments, domestic or international. That's my thesis, and I'm fairly confident in it. If I'm wrong, after evaluating all available data, such is the peril of attempting to predict the future. I will eat crow and say I was wrong if that is the future we arrive at. PIX in Brazil and UPI in India are evidence of what instant payment systems do to incumbent instant (credit card) rails. Central banks are coming for cross border payments next. For profit firms need profit and investors. Central banks (or other nation state monetary policy orgs with similar functions) simply need mandates. Congress told the Fed to build FedNow (to prevent private/for profit instant rails from gating access), and they did, because they were told to. Visa, Paypal, and others in the space have an existential crisis, no different than Intuit with the IRS preparing to offer filing for free. A Paypal stablecoin? Are you kidding me? Why would you use that versus an FDIC insured deposit account or a money market fund? https://archive.ph/vh3Dh https://archive.ph/vh3Dh | https://www.bloomberg.com/news/articles/2022-11-23/brazilians-choose-central-bank-s-payment-app-over-credit-cards https://www.bloomberg.com/news/articles/2022-11-23/brazilian... https://www.livemint.com/economy/indians-pick-upi-over-debit-cards-for-ease-of-use-zero-fees-11685903405304.html https://www.livemint.com/economy/indians-pick-upi-over-debit... https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2693~8d4e580438.en.pdf https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2693~8d4e5804... https://news.ycombinator.com/item?id=37920633 https://news.ycombinator.com/item?id=37920633 https://www.paypal.com/us/legalhub/cryptocurrencies-tnc?locale.x=en_US#fees-pricing https://www.paypal.com/us/legalhub/cryptocurrencies-tnc?loca... https://paxos.com/stablecoin-terms-conditions/ https://paxos.com/stablecoin-terms-conditions/

toomuchtodo 3y ago

Okay ¯\_(ツ)_/¯ If you want to bet $10k on the success of this, outline the success criteria and deadline for evaluation of the bet and we'll spin up a Long Bet [1]. Stripe talks a lot, while TranferWise (among others) gets shit done wrt cross border payments on real rails. Crypto is slowly dying while central banks raise rates globally, making the casino attempt at yield unpalatable (most crypto trading was gambling). Africa, for example, is going digital payments faster than some developed countries [2] [3]. Stripe's problem (along with Visa and Mastercard for that matter) is that developing countries are leapfrogging developed world financial infra, and owning it themselves to prevent "light colonization" of this critical financial infra. This compresses the global TAM for the for profit folks who are skimming off rails volume. [1] https://longbets.org/ https://longbets.org/ [2] https://www.mckinsey.com/industries/financial-services/our-insights/the-future-of-payments-in-africa https://www.mckinsey.com/industries/financial-services/our-i... [3] https://papss.com/ https://papss.com/

anon1199022 3y ago
[flagged]
- toomuchtodo 3y ago
  So you don't want to take the bet? Signals not much faith in your ideology and thesis. Accountability is important if attempting to predict the future. I believe you believe, but not enough to put value at risk.
  - AlchemistCamp 3y ago
    Or it signals that 10k is an insignificant amount of money to you, but not everyone else on the forum. Having a lot of money is likely a signal that you're good at your job, but it's not a signal that you're right about everything.
rvz 3y ago
Of course, moving the goal-posts are we? > "Stripe talks a lot, while TranferWise (among others) gets shit done wrt cross border payments on real rails." Stripe has also shipped theirs though and it is available and is in use. [0] So have Moneygram [1], Visa [2], Checkout.com [3], PayPal [4] and beyond payments, Walmart Canada is using one right now. [5] The fact is, they are using blockchains and they are not going away (or dying) anytime soon, like it or not. [0] https://stripe.com/gb/use-cases/crypto https://stripe.com/gb/use-cases/crypto [1] https://stellar.org/products-and-tools/moneygram https://stellar.org/products-and-tools/moneygram [2] https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.19881.html https://usa.visa.com/about-visa/newsroom/press-releases.rele... [3] https://www.checkout.com/solutions/crypto https://www.checkout.com/solutions/crypto [4] https://www.paypal.com/us/digital-wallet/manage-money/crypto/pyusd https://www.paypal.com/us/digital-wallet/manage-money/crypto... [5] https://hbr.org/2022/01/how-walmart-canada-uses-blockchain-to-solve-supply-chain-challenges https://hbr.org/2022/01/how-walmart-canada-uses-blockchain-t...
- toomuchtodo 3y ago
  I don't believe crypto is the future of payments, domestic or international. That's my thesis, and I'm fairly confident in it. If I'm wrong, after evaluating all available data, such is the peril of attempting to predict the future. I will eat crow and say I was wrong if that is the future we arrive at. PIX in Brazil and UPI in India are evidence of what instant payment systems do to incumbent instant (credit card) rails. Central banks are coming for cross border payments next. For profit firms need profit and investors. Central banks (or other nation state monetary policy orgs with similar functions) simply need mandates. Congress told the Fed to build FedNow (to prevent private/for profit instant rails from gating access), and they did, because they were told to. Visa, Paypal, and others in the space have an existential crisis, no different than Intuit with the IRS preparing to offer filing for free. A Paypal stablecoin? Are you kidding me? Why would you use that versus an FDIC insured deposit account or a money market fund? https://archive.ph/vh3Dh https://archive.ph/vh3Dh | https://www.bloomberg.com/news/articles/2022-11-23/brazilians-choose-central-bank-s-payment-app-over-credit-cards https://www.bloomberg.com/news/articles/2022-11-23/brazilian... https://www.livemint.com/economy/indians-pick-upi-over-debit-cards-for-ease-of-use-zero-fees-11685903405304.html https://www.livemint.com/economy/indians-pick-upi-over-debit... https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2693~8d4e580438.en.pdf https://www.ecb.europa.eu/pub/pdf/scpwps/ecb.wp2693~8d4e5804... https://news.ycombinator.com/item?id=37920633 https://news.ycombinator.com/item?id=37920633 https://www.paypal.com/us/legalhub/cryptocurrencies-tnc?locale.x=en_US#fees-pricing https://www.paypal.com/us/legalhub/cryptocurrencies-tnc?loca... https://paxos.com/stablecoin-terms-conditions/ https://paxos.com/stablecoin-terms-conditions/