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0 pointsEGreg4mo ago0 comments

Why don't people just build decentralized smart contracts these days? Why worry about all these liabilities?

0 comments

Because crypto is a liability itself and nobody normal likes interacting with it.

Is there no way to improve the user experience for this?

Company A sells cryptocurrency in country A. Company B is a payment processor in country B. You in country A go to the country B merchant's website and enter your card info to buy something. Your card gets charged by company A to buy cryptocurrency, the merchant gets the money through company B and the transfer of cryptocurrency from company A to company B happens in software on a server somewhere and the user doesn't have to do anything.

Why is this either not happening or not sufficient?

llbbdd4mo ago

Because one of the functions of government currency is keeping things like prices stable for the sanity of normal people buying food and gas, against the type of upheaval and reactionary change that a global currency is susceptible to. Bitcoin/crypto enthusiasts have historically pretended that stable prices are not important, keeping alive the traditional HN-lauded attitude that any insufficiently solved social problem is merely awaiting heroic overhaul via a Messianic technical spec.

EGregOP4mo ago

You are right and HN has no answer other than “crypto is bad”.

We are building exactly this at Intercoin. I hate that most of crypto is zero-sum games. https://intercoin.org/currencies.pdf

Also Stripe is launching Tempo blockchain, USDC is launching Arc blockchain. Cool things are coming!

1 more reply

nine_k4mo ago

Simple answer: gas is expensive, cashing out is, too. Not prohibitively, but credit cards are so much easier, while also possibly cheaper to accept.

j / k navigate · click thread line to collapse

0 comments

llbbdd4mo ago

Because crypto is a liability itself and nobody normal likes interacting with it.

AnthonyMouse4mo ago

Is there no way to improve the user experience for this?

Why is this either not happening or not sufficient?

llbbdd4mo ago

EGregOP4mo ago

You are right and HN has no answer other than “crypto is bad”.

We are building exactly this at Intercoin. I hate that most of crypto is zero-sum games. https://intercoin.org/currencies.pdf

Also Stripe is launching Tempo blockchain, USDC is launching Arc blockchain. Cool things are coming!

1 more reply

nine_k4mo ago

Simple answer: gas is expensive, cashing out is, too. Not prohibitively, but credit cards are so much easier, while also possibly cheaper to accept.

j / k navigate · click thread line to collapse