131–140 of 515 posts
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Thats news to me. Can you link to a page of a bank in Europe where they state that they offer free instant money transfers?
It’s pretty simple to see. First result I found: https://moneytransfers.com/bank-transfers/sepa-transfers For example from Germany to Austria, sending 1200€, I see multiple providers with no fees for quick transfers.
All this crpyto technology is fascinating. But is it used for anything? I asked this in an Ask HN today, but got no answer so far: https://news.ycombinator.com/item?id=39852389 It looks like not a single HN reader is using blockchain technology for anything. If nobody is using blockchain technology outside of blockchain projects, what are the reasons we expect that some day we will? What could be a near term use case…
Banks have been using the Ethereum blockchain for behind the scenes bad debt transfers for about seven years now. Banks don’t want to deal with treasury departments nor do the banks want to be beholden to federal governments regarding prime rates. Ethereum allows banks to circumvent these types of issues because rates are dictated by banks not by governments and their treasury departments. Crypto currency is coming s…
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Its main purpose is internet currency. The only serious uses surround that via smart contracts, like decentralized exchanges or provably fair gambling (unsavory as that is). Any time someone says "the currency aspect is separate from blockchain," I'd be wary, seeing how the entire point of blockchain is decentralization via proof of work or stake. NFTs can make sense in theory as an alternative to the already-popular…
Are you using it as internet currency? I don't know anyone who paid anything with it in the last 12 months.
Edit: relatedly, not everybody wants to pay their local taxes (and who am I to judge people in various life situations?). This itself is a _massive_ saver for the folks. Send somebody $5k usd a couple times and their bank will start asking complicated questions.
> Today, we have all the tools we'll need, and indeed most of the tools we'll ever have, to build applications that are simultaneously cypherpunk and user-friendly. Really looking forward to the next couple years. Everyone has been writing this off as "no killer apps after 10 years" but there's a lot that's been happening to support adoption, from scaling to improved UX. In the next couple years those should percolat…
What value proposition does crypto offer that existing solutions do not? The only reasonable answer crypto advocates can ever offer is “decentralization” and the lack of trust required. The problem is, most people are perfectly fine trusting their financial institutions. Another commenter was downvoted for saying “No one cares”, but a more precise way of putting this is “the average person doesn’t care about decentra…
That a very big "only". For me that's the killer app. I do not trust financial institutions and the ones that I trust do not want to accept me as their customer.
> “the average person doesn’t care about decentralization”
It's like saying "the average person does not care about a system of interconnected computer networks that communicates through TCP/IP". The average person cares about watching reels on Instagram or sending messages through WhatsApp.
> That’s what blockchain technology is: interesting research which will never be popular
I have no doubt that someone said the same regarding the Internet.
Key quote from the article: > Many have argued that the lack of large-scale applications for the past ten years proves that crypto is useless. I have always argued against this: pretty much every crypto application that is not financial speculation depends on low fees - and so while we have high fees, we should not be surprised that we mainly see financial speculation! > Now that we have blobs, this key constraint th…
5 cents per transaction is high for many parts of the world, and exceptionally high if every interaction in normal life is turned into a financial transaction.
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> Rollups use either optimistic proofs or zero knowledge proofs for settlement Can you post an example of a code that implements either of these? (the fraud proof, not the happy path) I ask because in the past when I researched L2s such as Optimism, that code was "to be developed".
I'm pretty sure that this is part of the code that implements fraud proofs on Arbitrum One, which is one of the few L2s to currently have fraud proofs. Sequencer side: https://github.com/OffchainLabs/nitro/blob/d28682b9300d50214... Contract side: https://github.com/OffchainLabs/nitro-contracts/blob/90037b9... It seems to me that Optimism is lagging way behind - I'm not sure if they have fraud proofs yet even to this…
Hmm ... "proto-danksharding" which activated the "blobscriptions protocol" so that blobs are "much cheaper than calldata", all of this helping it to become an "L2-centric ecosystem". In the end, this leaves them "not confident enough in the complex code of an optimistic or SNARK-based EVM verifier". I'm sold ... just tell me where to transfer the money.
The actual quote is "we are not *currently* at the point where we can be confident enough in the complex code of an optimistic or SNARK-based EVM verifier". The article seems to imply that "in the end", they will be.
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I use it everywhere where it's an option (so not very often, let's say once a month). I also only use privacy services (vpn for example) where you can pay using cryptocurrency, otherwise what's the point
What are some other examples, except for a VPN where you use crypto to pay? And how is the situation around the world - are retailers who offer digital goods/services allowed to accept crypto as payments?
As far as I can tell, the only cryptocurrency that actually delivers on its name (i.e. being used as a currency) is Monero. Sure, it's all drugs and stolen credit cards, but it does undeniably solve a real world problem for its users instead of just being used as a vehicle for speculative investment. With that said, I think if anyone comes up with a "killer-app" for crypto, then it'll be on the Ethereum chain. They s…
I still think that we should not forget the "I need a censorship-proof way to send money to someone overseas" story, but mostly as a hedge against the existing institutions, not as an immediate need.
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Are you using it as internet currency? I don't know anyone who paid anything with it in the last 12 months.
I’ve been paying multiple people and teams remotely via btc in the past years. Even if you can send a wire, sometimes it can be cheaper/easier to send crypto. But in many cases it’s not even possible to send large amounts of money without incurring massive fees (international paypal, western union, etc). Moved hundeds of thousands of dollars this way by now for purely legal economical reasons, helping a bunch of peop…