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Does anyone else associate "crypto" with "scam" these days? How is this good for them or their brand? I used to think Stripe's team cared about technical excellence and generally had good ideas. With their first announcement into this space and now this I'm less inclined to think so and will avoid their business as much as I can.
Also hell of a thing to announce on Earth Day.
What will be interesting to see is when/if they roll this back. Historically significant announcements like this from large corps are more of a PR play than anything else. Even Elon/Tesla backed away from crypto less than three months after announcement. They've been (allegedly) looking at it again for almost a year now but given no additional announcement of progress that announcement was quite possibly just another…
Well, it's USDC which is stable and probably is less of a headache to deal with than ETH/BTC. I suppose if not very many people use it, it might not be worth the engineering time to maintain it though.
Does anyone else associate "crypto" with "scam" these days? How is this good for them or their brand? I used to think Stripe's team cared about technical excellence and generally had good ideas. With their first announcement into this space and now this I'm less inclined to think so and will avoid their business as much as I can.
Totally. Also hell of a thing to announce on Earth Day.
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Totally. Also hell of a thing to announce on Earth Day.
Not sure if you missed the details of the announcement but they are doing the payouts on Polygon, which is not a Proof of Work network (the technology that is harmful for the environment).
There's also no guarantee that the PoW chain won't simply continue in yet another fork because profits.
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This is mostly off-topic, but one thing I’ve taken to when evaluating these announcements is to give the coin a stupid-sounding name and see if the idea still sounds impressive. “Stripe piloting payouts to Twitter creators in Circle Bucks” Do with that what you will.
And gmail would have less users if it was called ClownFartMail. Not sure what you’re getting at.
"Instead of sending a letter via USPS, send an instant electronic message via Clownfartmail"
Still seems better to me.
EDIT: Just to answer your implied question. I'm saying that in practice paying out an end user in USDC is the equivalent of paying out a user in any USD-denominated currency (crypto or not). Changing the name of the tech removes the 'gee-whiz' aspect of it and makes you focus on the use cases, which is ultimately what matters and ultimately what crypto struggles to actually deliver on.
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Well, it's USDC which is stable and probably is less of a headache to deal with than ETH/BTC. I suppose if not very many people use it, it might not be worth the engineering time to maintain it though.
Isn't USDC a token on Ethereum and some other blockchains? According to this it is 99%+ ETH: https://www.theblockcrypto.com/data/decentralized-finance/st...
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Not sure if you missed the details of the announcement but they are doing the payouts on Polygon, which is not a Proof of Work network (the technology that is harmful for the environment).
... it's not on PoS yet and it was delayed again. It's been delayed since 2016 or so (I can't remember the first time they announced it was just around the corner ). There's also no guarantee that the PoW chain won't simply continue in yet another fork because profits.
Earlier quoted context omitted.
Well, it's USDC which is stable and probably is less of a headache to deal with than ETH/BTC. I suppose if not very many people use it, it might not be worth the engineering time to maintain it though.
Isn't USDC a token on Ethereum and some other blockchains? According to this it is 99%+ ETH: https://www.theblockcrypto.com/data/decentralized-finance/st...
As a Russian oligarch, I'm very happy that Stripe is expanding my access to USDC when previously, I would have been prohibited from holding US Dollars, or selling the ones I have! Unfortunately, I'll have to send it through Twitter for some reason, but this is a win for free markets worldwide.
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And gmail would have less users if it was called ClownFartMail. Not sure what you’re getting at.
No that's not true at all. "Instead of sending a letter via USPS, send an instant electronic message via Clownfartmail" Still seems better to me. EDIT: Just to answer your implied question. I'm saying that in practice paying out an end user in USDC is the equivalent of paying out a user in any USD-denominated currency (crypto or not). Changing the name of the tech removes the 'gee-whiz' aspect of it and makes you foc…
But on USDC, it isn't regulated or properly audited by anyone reputable, the fact that sits on Ethereum/Polygon (which also isn't regulated and is riddled with high fees) doesn't give me confidence that anyone will use this token.
Stripe isn't doing anyone any favours offering this service.