3 ms·
I do not understand this lawsuit. > The plaintiffs in the new lawsuit alleged Apple, Venmo and Cash App "have repeatedly raised prices for transactions and ser
by etchalon 3y ago
I do not understand this lawsuit.
> The plaintiffs in the new lawsuit alleged Apple, Venmo and Cash App "have repeatedly raised prices for transactions and services with no competitive check."
They are arguing there is no competitive check between three companies who are competing with each other.
My assumption here is they are trying to claim that the fact Apple hasn't enabled/allowed specific Crypto wallets on the App Store – despite their being numerous Crypto wallets on the App Store – necessarily restricts competition because if people used crypto to send money to each other, they wouldn't have to pay transaction fees – which are already $0 for the vast majority of p2p use cases in Venmo, Cash, etc.
This lawsuit will go nowhere.
- hanzmanner 3y agoIs it even possible to send crypto with 0 transaction fees? If yes, my knowledge is really outdated in this area.
- etchalon 3y agoIt is not. It's actually cheaper to send money using Venmo/Cash/Paypal.
- ForkMeOnTinder 3y agoThe median lightning fee is currently $0.000229988. https://1ml.com/statistics https://1ml.com/statistics It's true that Venmo/etc is cheaper at $0, but remember you're paying with your data instead. Having the choice of which way to pay is welcome imo
- MisterBiggs 3y agoNano is the only crypto I'm aware of that actually does 0 transaction fees https://nano.org/ https://nano.org/