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Ah, so we're basically battling the prudishness of VISA and MasterCard? That... Actually makes sense.. Which is a rare feat for crypto!

by amarant 7mo ago

Saline9515 7mo ago
Stablecoins present less frictions, have cheaper transaction costs and less intermediaries susceptible to block them. It greatly increases the velocity of money.
- amarant 7mo ago
  What utterly horrendous payment solutions are you using that have more friction than crypto? The ones I use are several orders of magnitude less friction and most are 100% free. The ones that do have a cost (for recipients outside Scandinavia basically) are still way, waay cheaper than crypto transactions.
  - abigail95 7mo ago
    How do you have a payment system that is free? Who pays for the infrastructure?
    - amarant 7mo ago
      I was referring to this one: https://en.wikipedia.org/wiki/Swish_(payment) https://en.wikipedia.org/wiki/Swish_(payment) No sign-up fee, no recurring fee, and no transaction fee. I guess it's a loss leader for banks? But if one bank stopped supporting it, they would find themselves without customers in less than 24 hours, so it's a worthwhile loss I guess
  - Saline9515 7mo ago
    Many banks from where I come from (France), will require, for larger payments: - Print a paper form, fill it by hand, scan it and send it. A human will review it next week and agree (or not). - If you receive money, you have to prove the origin. If you can't, or if the bank finds it unsatisfactory, they'll freeze it. Often, they'll freeze your account right away. You have little legal recourse. For the record, I once wanted to buy a car in a foreign EU country. I had the contract, it was from a recognized dealership, etc etc. The bank refused to send it. I had to open a Wise account, wire the money there, and then sent it to the dealership. Overall banks are nice, most of the time, but can create a lot of problems when you need them, especially now that the EU is having an AML inflation under the US and FATF pressure and everything is managed by AI with no human in the loop. I understand that you couldn't care less about people who aren't having the exact same life as you, but maybe consider that one day it will change and you'll need a freer transaction infrastructure. And crypto transactions are almost free nowadays, if you avoid Ethereum and Bitcoin. A transfer on Arbitrum L2 costs 0.002$[0] [0]: https://arbiscan.io/tx/0x92122f1df5e8811f4d0cbf44f210074f5bbcb76bfcf9f90c251aaad2dd9cb909 https://arbiscan.io/tx/0x92122f1df5e8811f4d0cbf44f210074f5bb...

Ah, so we're basically battling the prudishness of VISA and MasterCard? That... Actually makes sense.. Which is a rare feat for crypto!

by amarant 7mo ago

Ah, so we're basically battling the prudishness of VISA and MasterCard? That... Actually makes sense.. Which is a rare feat for crypto!

Saline9515 7mo ago

Stablecoins present less frictions, have cheaper transaction costs and less intermediaries susceptible to block them. It greatly increases the velocity of money.

amarant 7mo ago
What utterly horrendous payment solutions are you using that have more friction than crypto? The ones I use are several orders of magnitude less friction and most are 100% free. The ones that do have a cost (for recipients outside Scandinavia basically) are still way, waay cheaper than crypto transactions.
- abigail95 7mo ago
  How do you have a payment system that is free? Who pays for the infrastructure?
  - amarant 7mo ago
    I was referring to this one: https://en.wikipedia.org/wiki/Swish_(payment) https://en.wikipedia.org/wiki/Swish_(payment) No sign-up fee, no recurring fee, and no transaction fee. I guess it's a loss leader for banks? But if one bank stopped supporting it, they would find themselves without customers in less than 24 hours, so it's a worthwhile loss I guess
- Saline9515 7mo ago
  Many banks from where I come from (France), will require, for larger payments: - Print a paper form, fill it by hand, scan it and send it. A human will review it next week and agree (or not). - If you receive money, you have to prove the origin. If you can't, or if the bank finds it unsatisfactory, they'll freeze it. Often, they'll freeze your account right away. You have little legal recourse. For the record, I once wanted to buy a car in a foreign EU country. I had the contract, it was from a recognized dealership, etc etc. The bank refused to send it. I had to open a Wise account, wire the money there, and then sent it to the dealership. Overall banks are nice, most of the time, but can create a lot of problems when you need them, especially now that the EU is having an AML inflation under the US and FATF pressure and everything is managed by AI with no human in the loop. I understand that you couldn't care less about people who aren't having the exact same life as you, but maybe consider that one day it will change and you'll need a freer transaction infrastructure. And crypto transactions are almost free nowadays, if you avoid Ethereum and Bitcoin. A transfer on Arbitrum L2 costs 0.002$[0] [0]: https://arbiscan.io/tx/0x92122f1df5e8811f4d0cbf44f210074f5bbcb76bfcf9f90c251aaad2dd9cb909 https://arbiscan.io/tx/0x92122f1df5e8811f4d0cbf44f210074f5bb...