Earlier quoted context omitted.
The tech is there but mainstream adoption and understanding is still coming along. It's incredibly easy and cheap to send USDC or DAI to OnlyFans if they accept tokens on a sidechain (like Polygon or Fantom). You don't have to sign up for an account or provide any personal info, just use your wallet to send certain tokens to an address, then you can use that wallet as a sign-in. OnlyFans can then use Coinbase or an o…
> It's incredibly easy and cheap to send USDC or DAI to OnlyFans if they accept tokens on a sidechain (like Polygon or Fantom). And then you quickly realize how useless USDC/DAI is when you want to pay your rent, for milk, etc. > OnlyFans can then use Coinbase or an off-ramp to go from crypto to fiat. They can't because then KYC kicks in. This is exactly the problem with crypto at scale...you can't convert large scal…
> They can't because then KYC kicks in. This is exactly the problem with crypto at scale.
Isn't KYC only a problem for people trying to hide their income? Onlyfans (and other legit businesses) would not have this problem as they would not be trying to hide their earnings.