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This seems like a compelling use case for cryptocurrencies or other tokenized/indirect value exchange schemes.
by bob1029 1y ago
This seems like a compelling use case for cryptocurrencies or other tokenized/indirect value exchange schemes.
- Zealotux 1y agoHopefully this can accelerate the world being free of historical payment providers.
- itake 1y agoMaybe USDC being public makes this a better time. I believe Steam tried to accept bitcoin, but the price fluctuations and slow transactions made it impossible for them to provide the level of service that set.
- herbst 1y agoBTC or any crypto lost way less value (in fact only increased) where 1 USDT/C lost 20-25% of its value for the average European since trump began crashing the US. Really no reason at all to hold or handle USD compared to nearly anything else right now :)
- _imnothere 1y agoFor your information, there's stable coin for EUR as well[1] [1]: https://coinmarketcap.com/currencies/euro-coin/ https://coinmarketcap.com/currencies/euro-coin/
- Applejinx 1y agoPeople seem to not mention the 'slow transactions' that often, but suddenly adding all the business formerly transacted with credit card companies by itch.io would probably wreck all of crypto immediately. Too much volume.
- aussieguy1234 1y agoYes, this is a very good example of traditional payments systems failing. They'll censor any content they disagree with. Crypto can't be censored so easily.
- chii 1y agousing a technological method to try solve a social problem is unlikely to really succeed. Censorship is a social problem, and needs to be solved with social methods, such as enacting payment neutrality laws like net neutrality laws (hah, as if), or electricity neutrality laws etc. Using crypto can temporarily bypass it, until it doesn't or you are stigmatized somehow under the law for it.
- charcircuit 1y agoI think you are underestimating the social dynamics of a centralized vs decentralized systems.
- aussieguy1234 1y agoIn the end, the power of everyday people to control what the law wants to ban is limited. In some countries, content in favor of certain minority groups is banned. For sure those groups ability to take payment is impacted. Sometimes those minorities are denied citizenship and can't open a bank account e.g. the Rohingya in Myanmar.
- Jyaif 1y agoOn one hand the republican are pushing for puritan values via Visa/Mastercard, on the other hand they are pushing for cryptos which will reduce their control. [edit: perhaps this pushing for puritan values is actually a 9000 IQ move to promote crypto-backed stores]
- roguecoder 1y agoCrypto is a way for them to avoid the anti-bribery, anti-financial-crimes laws that were passed over the last hundred years. They know most people won't use it ever, but the people doing bribes were already willing to go above and beyond to get what they wanted.
- seszett 1y agoIt seems to me as this is a compelling use case for regulation that prevents discrimination by payment processors. I just looked up a few porn sites and they don't provide Mastercard/Visa payment but they just take the national payment processor of the few (EU) countries I checked.
- baobabKoodaa 1y ago> I just looked up a few porn sites and they don't provide Mastercard/Visa payment but they just take the national payment processor of the few (EU) countries I checked. What does this mean? "national payment processor"?
- seszett 1y agoCB in France, Bancontact in Belgium, iDEAL in the Netherlands. Those are all nationwide networks that allow online payments (online in this case, but they also handle most non-cash payments offline) inside these countries. I think most countries have such a network (under various legal forms, for example CB is a consortium but Bancontact is for-profit, while I think Interac in Canada is a non-profit, etc) but the US doesn't have an equivalent as far as I know.
- roguecoder 1y agoAmerica has FedPay, but it hasn't been widely implemented yet.
- deleted 1y ago[deleted]
- edflsafoiewq 1y agoHow? If CC companies refuse to process any itch payments unless the content they object to is removed from the site, then crypto would have to become itch's sole payment option. That would probably kill the site.
- OldfieldFund 1y agoI think OP assumes widespread adoption of cryptocurrencies, but cryptocurrencies are very impractical for regular use.
- oneeyedpigeon 1y agoIt's relative, though. As cash and cards become more impractical by the day, they will eventually be less practical than even crypto.
- roguecoder 1y agoThe work of processing a credit card transaction is 1/100000th the work of a blockchain transaction via proof of work. Credit card transactions can get enormously impractical and it will still be more practical than a purposefully-inefficient distributed database.
- wmf 1y agoStablecoins don't use proof of work.
- kinakomochidayo 1y agoMost of the stablecoins are on Ethereum, which is Proof of Stake, and the remaining is on centralized chains like Tron. Gas fees on Ethereum L2s like Base cost $0.0016 to send USDC, and $0.00064 to send ETH.
- OldfieldFund 1y agohow are cards impractical?
- dartharva 1y ago... until cryptocurrencies get banned too for "only being used by deranged criminals"