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The thing is, most of the reason for the fees you’re complaining about is things like government regulation and insurance. Now, you may not like the government

by sfblah 2y ago

The thing is, most of the reason for the fees you’re complaining about is things like government regulation and insurance. Now, you may not like the government regulation, since in many cases the governments are corrupt (South America is a good example). And, you may not like paying insurance, since you’re probably ok with the risk of getting scammed, but there it is. Crypto is like buying a product online for cheaper, but instead of using Amazon or Walmart, you buy it from some random guy on Craigslist whose brother delivers it. Sure, it’s cheaper and lower fees, but if the product doesn’t show up you’re SOL.

diggan 2y ago
> Now, you may not like the government regulation I do like government regulation, and I think we (Spain/Europe) need more of it, especially around everything digital and also cryptocurrencies. > And, you may not like paying insurance, since you’re probably ok with the risk of getting scammed, but there it is. I don't mind paying/not paying for insurance. The transaction I do are between two well known parties that trust each other. If I could just get an IBAN and do a normal bank transfer, I'd do that instead. But alas, I cannot, so alternatives get used instead. > Crypto is like buying a product online for cheaper, but instead of using Amazon or Walmart, you buy it from some random guy on Craigslist whose brother delivers it. Sure, it’s cheaper and lower fees, but if the product doesn’t show up you’re SOL. Sure, if you're purchasing goods from strangers on the internet, I understand your example and agree. But all use cases are not like that, particularly not the one you're currently responding to. The reasons I use USDC/cryptocurrency for doing these transactions is because it's easier, cheaper and faster. If banks could get international transfers (for everyone, not just select countries) in order, and I could as easily, fast and cheap do a normal bank transfer, I'd prefer that.

by sfblah 2y ago

diggan 2y ago

> Now, you may not like the government regulation I do like government regulation, and I think we (Spain/Europe) need more of it, especially around everything digital and also cryptocurrencies. > And, you may not like paying insurance, since you’re probably ok with the risk of getting scammed, but there it is. I don't mind paying/not paying for insurance. The transaction I do are between two well known parties that trust each other. If I could just get an IBAN and do a normal bank transfer, I'd do that instead. But alas, I cannot, so alternatives get used instead. > Crypto is like buying a product online for cheaper, but instead of using Amazon or Walmart, you buy it from some random guy on Craigslist whose brother delivers it. Sure, it’s cheaper and lower fees, but if the product doesn’t show up you’re SOL. Sure, if you're purchasing goods from strangers on the internet, I understand your example and agree. But all use cases are not like that, particularly not the one you're currently responding to. The reasons I use USDC/cryptocurrency for doing these transactions is because it's easier, cheaper and faster. If banks could get international transfers (for everyone, not just select countries) in order, and I could as easily, fast and cheap do a normal bank transfer, I'd prefer that.