To be specific they're allowing transfer to the USDC token, which is a "stable coin" pegged to the USD currency and owned by coin base.
This is a fairly low risk move by Stripe, as USDC is more open and trusted than USDT (Tether)
Expanding access to the future of work with crypto payouts
41–50 of 146 posts
Re: Expanding access to the future of work with crypto payouts
#42Re: Expanding access to the future of work with crypto payouts
#43Earlier quoted context omitted.
TransferWise, now just Wise works awesome too.
I'm using Binance P2P. By far the cheapest way to transfer funds from rich to poor countries. Have used Wise in the past because it's very convenient to use but they are just extremely expensive compared to P2P crypto. Also they don't support many countries or only support one direction. Not a crypto bro and very critical of crypto fads normally but this use case actually works for a regular person like me. Going to…
The reason that Binance is able to charge less is because they're not really regulated and they're able to pass that risk directly on to you.
Re: Expanding access to the future of work with crypto payouts
#44To be specific they're allowing transfer to the USDC token, which is a "stable coin" pegged to the USD currency and owned by coin base. This is a fairly low risk move by Stripe, as USDC is more open and trusted than USDT (Tether)
Issued by Coinbase. It is owned by whoever has it.
They are also easily and instantly (and perhaps most importantly permissionlessly) exchangeable to hundreds of other tokens thanks to DeFi swap smart contracts.
Re: Expanding access to the future of work with crypto payouts
#45Now when stripe suddenly shuts down your business you can be even more outta-luck than when it was USD. Better for them you're on the no-recourse crypto.
Quite the opposite is true. USDC payments are fast and irreversible.
Re: Expanding access to the future of work with crypto payouts
#46Earlier quoted context omitted.
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/
You can immediately exchange your USDC payment for some other token that retains full control, via DeFi contracts like Uniswap.
Re: Expanding access to the future of work with crypto payouts
#47To be specific they're allowing transfer to the USDC token, which is a "stable coin" pegged to the USD currency and owned by coin base. This is a fairly low risk move by Stripe, as USDC is more open and trusted than USDT (Tether)
Issued by Coinbase. It is owned by whoever has it. They are also easily and instantly (and perhaps most importantly permissionlessly) exchangeable to hundreds of other tokens thanks to DeFi swap smart contracts.
USDC is not permissionless. Coinbase froze all USDC in Tornado on the Ethereum blockchain, for examaple.
Re: Expanding access to the future of work with crypto payouts
#48Earlier quoted context omitted.
this is a real lazy take mate. i mean, i agree that the crypto industry is plauged by fraud and posers, but to say that blockchain offers nothing new is just showing ignorance of the technology. i recommend reading the original bitcoin whitepaper to understand what is new: https://bitcoin.org/en/bitcoin-paper
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?
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Re: Expanding access to the future of work with crypto payouts
#49It 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…
People seem to forget that 6 trillion dollars of liquidity was injected into the US monetary supply in 2020 (close to a 50% increase in the total USD monetary supply). The 2008 financial bailout popularized by "The Big Short" pales in comparison to what happened in 2020. While there are situations where creating liquidity via monetary policy is necessary - it sucks that it directly impacts the savings and wages of ev…
How would crypto be immune to inflation? If prices of housing, assets, etc go up, crypto does too.
Re: Expanding access to the future of work with crypto payouts
#50To be specific they're allowing transfer to the USDC token, which is a "stable coin" pegged to the USD currency and owned by coin base. This is a fairly low risk move by Stripe, as USDC is more open and trusted than USDT (Tether)
Issued by Coinbase. It is owned by whoever has it. They are also easily and instantly (and perhaps most importantly permissionlessly) exchangeable to hundreds of other tokens thanks to DeFi swap smart contracts.
Issued by Circle