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Stripe Crypto

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131–140 of 450 posts

Re: Stripe Crypto

#131
It's very strange seeing the option near the bottom of the page to donate a fraction of your revenue from Stripe Crypto to carbon recapture efforts. I agree with Stripe that, at this point, the solution to our climate problems must include carbon recapture, but it's not an ideal situation to be in.

Businesses entering the crypto space always seem to tout carbon offsets and sidechains that use less energy, but offsets are insufficient, and NFTs minted on sidechains inevitably migrate to Mainnet, where they're just as environmentally destructive as any other NFT, or they fail.

Stripe's carbon recapture efforts seem to be in the same category. Recapture is good, but not nearly as good as not emitting the carbon in the first place. If Stripe's support of crypto increases the use of blockchains, the overall impact of extra carbon emissions could very easily outpace all the carbon recapture they'll ever achieve.

It's a shame. When Stripe announced their carbon recapture efforts, I was impressed by how sincere they seemed in finding solutions to climate problems. Next to Stripe Crypto, however, it appears to just be greenwashing.

(And to head off the replies, I know all about proof-of-stake, but it's not relevant here. I'm unconvinced it will work, and even if it does, the ecological damage done and being done in the meantime is massive. If Stripe really cared about carbon emissions, they'd wait to launch Stripe Crpyto only on proof-of-stake blockchains, and only after they proved that the energy usage at scale was similar to the energy use for transferring fiat currency.)

Re: Stripe Crypto

#132

Earlier quoted context omitted.

How to participate in crypto? Just head to a privately owned exchange that might be traded at a stock exchange! Alternatively use a startup service that in turn relies on a privately owned backend that might as well go public at any point.

Or get to localcrypto, localbitcoin, localmonero and find a peer who is willing to give you crypto for your cash.

CryptoBarter is here!

So we simply ~~kill the batman~~ -- er... trade resources for resources, and determine a balance between what I am asking for vs your offer?

Its amazing we need digital fn currency to algorithm this bullshit for us to maintain trust in such NOTES

Re: Stripe Crypto

#133

The main point of crypto these days appears to be to replace the current middlemen with different middlemen who can make more profit while offering the consumer much less legal protection. It's a bit concerning.

The capability of self-custody is the thing to pay attention to. Nothing else has this capability to the same extent. Today we store most of our wealth in assets (market index funds, stocks, real estate, etc.) and some (typically very little, and rarely outside of a bank account) in cash. Most of this is not actually controlled by you. With BTC (and cryptocurrency more generally) you have the capability of having you…

It's funny because some Bitcoin evangelists point to the US govt's 1933 confiscation of a gold as a reason to use Bitcoin instead.

... How is nabbing a gold ingot and different than nabbing a storage device? If anything, the threat surface of a digital wallet is much greater (you could steal it remotely if the user doesn't have good cybersecurity practices, unlike a gold ingot).

Re: Stripe Crypto

#135
post #127

Earlier quoted context omitted.

So crypto qualifies.

Why isn’t this new Stripe thing then about being able to use Bitcoin when buying things? Or how do I use Coinbase for buying things? Try go to the coinbase website and look for how to buy things with your Bitcoin. What I read from the site is that it’s all about investing in the value going up, not about making payments to other people or businesses for services or purchases.

My question also.

Re: Stripe Crypto

#136

The main point of crypto these days appears to be to replace the current middlemen with different middlemen who can make more profit while offering the consumer much less legal protection. It's a bit concerning.

The capability of self-custody is the thing to pay attention to. Nothing else has this capability to the same extent. Today we store most of our wealth in assets (market index funds, stocks, real estate, etc.) and some (typically very little, and rarely outside of a bank account) in cash. Most of this is not actually controlled by you. With BTC (and cryptocurrency more generally) you have the capability of having you…

You can currently take physical possession of commodities including all the precious medals, one doesn't have to allow their stock certs to be help by others, cash and other such methods still work but most people chose to let middlemen do it for them, just like most people do for Crypto judging by the market valuations of some of those companies.

Re: Stripe Crypto

#137
post #94

Earlier quoted context omitted.

Which cryptos are scams and why?

well, most cryptos are scams. that's extremely obvious. the 0.1% that are not are going to be the foundation for the next generation of web and finance -- this is also obvious. but it's silly to pretend like most cryptos aren't just cash grabs. but just like 99.9% of websites on the internet are scams/ads/useless, doesn't take away from the importance of the legitimately useful websites.

> 99.9% of websites on the internet are scams/ads/useless?

Really?

Does Amazon, Wikipedia count as one website or do you just deploy an arbitrary definition of the word useless?

Re: Stripe Crypto

#139

They forgot to update their terms of service. > Prohibited Businesses > You must not use Stripe’s services for the following activities: > * Pyramid schemes > * ‘Get rich quick’ schemes > * No value added services > * Predatory investment opportunities

No post body was provided.

Re: Stripe Crypto

#140

Earlier quoted context omitted.

I feel like I am engaging with a bad faith critique for the purposes of good faith discussion, which is a mistake, but OK, here goes: Some businesses in the UK have banks that say they will close their accounts if they accept cryptocurrency payments. Mine does! I would without hesitation lose my business bank account if I did, because I am a trifling small customer. Stripe was safe and reputable, but now it is a plac…

> Because cryptocurrency is consistently crime-adjacent and fraud-adjacent. So are banks. https://en.wikipedia.org/wiki/Money_laundering#Notable_cases

That's as may be.

But I have to deal with my bank, don't I? And there is regulation to protect my business.

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