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Expanding access to the future of work with crypto payouts

stripe.com

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Re: Expanding access to the future of work with crypto payouts

#11

Post by [deleted] »

datadata wrote: post #5
colesantiago wrote: post #4

Earlier quoted context omitted.

What can crypto and blockchain legitimately offer that is better than what the current financial system offers? The Bitcoin whitepaper outlines a P2P payments system, today it isn't used as such, rather a store of value, not even Stripe is using Bitcoin for payments at all. So what use are these cryptocurrencies for, if not for scams and fraud?

From the article: > Speed is one advantage of crypto payouts. Reach is another. Millions of talented freelancers live in countries where it’s hard, if not impossible, to open a local bank account. For example, a majority of the people in Djibouti, El Salvador, and Bhutan don't have bank accounts. With Stripe, freelancers in those countries are now able to receive funds via USDC in minutes. With the addition of USDC,…

[deleted]

Re: Expanding access to the future of work with crypto payouts

#12

Post by imachine1980_ »

datadata wrote: post #5
colesantiago wrote: post #4

Earlier quoted context omitted.

What can crypto and blockchain legitimately offer that is better than what the current financial system offers? The Bitcoin whitepaper outlines a P2P payments system, today it isn't used as such, rather a store of value, not even Stripe is using Bitcoin for payments at all. So what use are these cryptocurrencies for, if not for scams and fraud?

From the article: > Speed is one advantage of crypto payouts. Reach is another. Millions of talented freelancers live in countries where it’s hard, if not impossible, to open a local bank account. For example, a majority of the people in Djibouti, El Salvador, and Bhutan don't have bank accounts. With Stripe, freelancers in those countries are now able to receive funds via USDC in minutes. With the addition of USDC,…

I'm one of those, work remote from argentine is simply pay 90 tax becouse of a broken conversion rate technically, becouse you can pay 15 income tax and don't but have a company and return assets like bonds, is a mess . this is really useful and I trust stripe more than the competition

Re: Expanding access to the future of work with crypto payouts

#13

Post by colesantiago »

tenpies wrote: post #9
colesantiago wrote: post #4

Earlier quoted context omitted.

What can crypto and blockchain legitimately offer that is better than what the current financial system offers? The Bitcoin whitepaper outlines a P2P payments system, today it isn't used as such, rather a store of value, not even Stripe is using Bitcoin for payments at all. So what use are these cryptocurrencies for, if not for scams and fraud?

> What can crypto and blockchain legitimately offer that is better than what the current financial system offers? Cancellation resistance. Protection from oppressive governments trying to squash freedom. Protection from retroactive laws targeting previously legal transactions. Asset protection. And look I agree with you. And everything I posted above carries a huge cost given the volatility of most cryptocurrencies,…

I don't think evading sanction laws and taxes with crypto is a great use case and Stripe will be investigated and ordered to ban accounts doing this behaviour.

So you're back to the current regulated system that works, is stable and is the best we have.

Re: Expanding access to the future of work with crypto payouts

#14

Post by colesantiago »

djohnston wrote: post #6
colesantiago wrote: post #4

Earlier quoted context omitted.

What can crypto and blockchain legitimately offer that is better than what the current financial system offers? The Bitcoin whitepaper outlines a P2P payments system, today it isn't used as such, rather a store of value, not even Stripe is using Bitcoin for payments at all. So what use are these cryptocurrencies for, if not for scams and fraud?

absolute control of your own money. borderless currency. distributed applications/smart contracts outside the reach of any state. these are my personal faves

With Stripe and USDC you don't have control of your money at all and smart contracts don't work and are broken causing people to lose money in the millions.

It is a fragile, brittle system that is highly likely to fail, you only need to look here to see why. [0]

[0] https://web3isgoinggreat.com/

Re: Expanding access to the future of work with crypto payouts

#15

Post by jejeyyy77 »

colesantiago wrote: post #2

It is a massive mistake that Stripe is offering anything in the crypto space as everyone and Stripe knows it is full of fraud, money laundering, scams and it is completely unregulated. I look forward to the day that Stripe will get investigated for all of the above with this and end up like Paypal, eventually freezing or banning these accounts. Crypto does not offer anything new at all. EDIT: It seems Stripe and Cryp…

Lol, feels like some people never see trends until it literally steam rolls over them.

Re: Expanding access to the future of work with crypto payouts

#18

Post by jfghi »

karaterobot wrote: post #7
colesantiago wrote: post #2

It is a massive mistake that Stripe is offering anything in the crypto space as everyone and Stripe knows it is full of fraud, money laundering, scams and it is completely unregulated. I look forward to the day that Stripe will get investigated for all of the above with this and end up like Paypal, eventually freezing or banning these accounts. Crypto does not offer anything new at all. EDIT: It seems Stripe and Cryp…

Crypto is very popular among people working in rich countries who send remittances back to their families in other countries. That's a legitimate use, a very popular use, and is obviously what Stripe is going for here.

Once the remittance is received, how is it then exchanged for the currency the recipient needs?

Re: Expanding access to the future of work with crypto payouts

#19

Post by dontknowwhyihn »

colesantiago wrote: post #10
datadata wrote: post #5

Earlier quoted context omitted.

From the article: > Speed is one advantage of crypto payouts. Reach is another. Millions of talented freelancers live in countries where it’s hard, if not impossible, to open a local bank account. For example, a majority of the people in Djibouti, El Salvador, and Bhutan don't have bank accounts. With Stripe, freelancers in those countries are now able to receive funds via USDC in minutes. With the addition of USDC,…

USDC is a completely centralised 'stablecoin' and has a blacklist function which means they can seize funds of people who they don't like. USDC again is not even regulated as I said with no proof backing this other than 'attestations' which is not a full audit of reserves. How is this decentralised money that was promised by crypto and blockchain? You may very well use Wise, Moneygram and other regulated alternatives…

USDC can be sent peer to peer with low fees. And I would be extremely surprised if Wise or Moneygram are cheaper or faster.

Re: Expanding access to the future of work with crypto payouts

#20

Post by rafaelm »

jfghi wrote: post #18
karaterobot wrote: post #7

Earlier quoted context omitted.

Crypto is very popular among people working in rich countries who send remittances back to their families in other countries. That's a legitimate use, a very popular use, and is obviously what Stripe is going for here.

Once the remittance is received, how is it then exchanged for the currency the recipient needs?

From my own experience, you can use a very popular exchange that has a huge P2P marketplace, precisely for this.
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