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Stripe Crypto

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251–260 of 450 posts

Re: Stripe Crypto

#251

It is important to recognize that Stripe is largely selling well-made shovels for the gold rush here. They have a history of diving more deeply into this market [1] and withdrawing from it before [2], so this is just Take 2. This time around, they are not themselves buying Cube Thingies or similar and don't have any exposure to the volatile world of ETH or other coins. I think there will be decent transfer of money f…

Why do you limit your scope to digital art? There are plenty of other potential applications, from tickets, music and gaming to gumroad-like marketplaces

Re: Stripe Crypto

#252
This is unrelated to the specific story, but as more and more companies and people I respect get involved with it, the more I realize I need to have a working knowledge of Crypto Currency so at the very least I can be involved in the discussion.

Does anyone have any good resources for learning the building blocks/vocabulary of Crypto Currency?

Re: Stripe Crypto

#253

It is important to recognize that Stripe is largely selling well-made shovels for the gold rush here. They have a history of diving more deeply into this market [1] and withdrawing from it before [2], so this is just Take 2. This time around, they are not themselves buying Cube Thingies or similar and don't have any exposure to the volatile world of ETH or other coins. I think there will be decent transfer of money f…

My interest in web3 + art is from finding new livable income sources for artists generally. Less about big money speculation, more about getting more artists supported such that they don’t need a day job or purely commercial art pursuits (as opposed to “fine art”). I understand the current state of crypto isn’t near offering this outside of hyped speculative investments I’m also not interested in ideas on a shelf tha…

This is a solved problem: you pay them for their work, which is how artists have made money since time immemorial. The degree to which artists can make a living off their art is a function of demand and discoverability, not whether they have a payment system (they do need this, but they already have them).

I'd be curious to know what fraction of NFT enthusiasts had previously commissioned a piece of art, and of those how many were truly aghast at the dire state of payment systems without NFTs or at their inability to assert ownership via a blockchain. I suspect both are quite small.

The former is ludicrous, because Paypal/Kofi/Patreon/what have you offer a wide array of easy-to-use, feature-rich payment systems.

The latter maybe less inconceivable, but IMO it's driven by a desire to use blockchain tech for _something_, find something that it can conceivably do, and then deciding that that thing is therefore important. Personally, proving ownership and providence hasn't ever been a concern for any of my art purchases because they, like the vast majority of art, isn't worth selling a forgery of--nobody is coming to steal the forum avatar I commissioned or selling unauthorized prints of the obscure photographer I like.

This is just round three (or whatever) of blockchain being a solution in search of a problem: having failed to evangelize its wide use as a consumer payments system in general, its adherents moved on to hyping it as a solution to Enterprise IT problems (where selling bullshit is the name of the game anyway), failed to find traction (because everyone discovered it didn't actually solve any problems), and so we've circled back round to a consumer market, but now with more celebrity endorsements. It's still an effort to convince people that the blockchain version of something is much better and therefore worthwhile so that the worth of the tokens is tied to something other than transactions illegal goods and wild speculation. It's about supporting the livelihoods of people hoarding GPUs and wasting electricity to mine the tokens, not artists.

Re: Stripe Crypto

#254

This is unrelated to the specific story, but as more and more companies and people I respect get involved with it, the more I realize I need to have a working knowledge of Crypto Currency so at the very least I can be involved in the discussion. Does anyone have any good resources for learning the building blocks/vocabulary of Crypto Currency?

You could check out crypto.tre.gd

Re: Stripe Crypto

#255
post #193

Earlier quoted context omitted.

How does that protect you from someone who can seize your device? If they can seize your device they can also seize any physical assets that you possess. So your wealth exists only nominally, you can't really spend it.

The device holds a private key that can be regenerated from 12 seed words. The device itself doesn't really matter if you know these 12 words. The key is what lets you update ownership information on the public block chain. The wallet doesn't hold any coins on the device, just a key that let's you update the chain of public ownership. For example: - You live in Russia and see the writing on the wall for invasion and…

So a key step in there is finding someone that's willing to take your local currency in exchange for a not-local asset that you can access later.

Would it be very different if that asset was Euros? Or ownership of gold that's stored in Chile?

If you need any documents you can store them in a secret passworded account.

Re: Stripe Crypto

#256

> Build your crypto business with Stripe I would hesitate building any business on Stripe. However, if you are considering using Stripe Crypto, build the integration it in a way that you can easily migrate away. We built our credit card processing and invoicing on Stripe. We've only processed $2.5m and now we are migrating away. We are 2 months into the migration. It's worth the migration cost, working with Stripe ha…

Curious what happened with your integration and subsequent migration?

Re: Stripe Crypto

#257
post #251

It is important to recognize that Stripe is largely selling well-made shovels for the gold rush here. They have a history of diving more deeply into this market [1] and withdrawing from it before [2], so this is just Take 2. This time around, they are not themselves buying Cube Thingies or similar and don't have any exposure to the volatile world of ETH or other coins. I think there will be decent transfer of money f…

Why do you limit your scope to digital art? There are plenty of other potential applications, from tickets, music and gaming to gumroad-like marketplaces

This had been discussed a lot of times. All of those proposed uses are better served by regular databases

When crypto proposes something that *is*, rather than something that *could be* people will stop considering it as a big casino.

Re: Stripe Crypto

#258
post #253

Earlier quoted context omitted.

My interest in web3 + art is from finding new livable income sources for artists generally. Less about big money speculation, more about getting more artists supported such that they don’t need a day job or purely commercial art pursuits (as opposed to “fine art”). I understand the current state of crypto isn’t near offering this outside of hyped speculative investments I’m also not interested in ideas on a shelf tha…

This is a solved problem: you pay them for their work, which is how artists have made money since time immemorial. The degree to which artists can make a living off their art is a function of demand and discoverability, not whether they have a payment system (they do need this, but they already have them). I'd be curious to know what fraction of NFT enthusiasts had previously commissioned a piece of art, and of those…

Buddy, think about the poor starving VCs. They got into certain coins at prices at fraction of a dollar. They need 10000x returns so they can keep putting 100m into a saas company that sales force can buy.

Re: Stripe Crypto

#259

It is important to recognize that Stripe is largely selling well-made shovels for the gold rush here. They have a history of diving more deeply into this market [1] and withdrawing from it before [2], so this is just Take 2. This time around, they are not themselves buying Cube Thingies or similar and don't have any exposure to the volatile world of ETH or other coins. I think there will be decent transfer of money f…

My interest in web3 + art is from finding new livable income sources for artists generally. Less about big money speculation, more about getting more artists supported such that they don’t need a day job or purely commercial art pursuits (as opposed to “fine art”). I understand the current state of crypto isn’t near offering this outside of hyped speculative investments I’m also not interested in ideas on a shelf tha…

What is the pitch for how web3 will help artists find income without purely commercial art pursuits? Every single web3 art project I've seen has been entirely commercial.

Re: Stripe Crypto

#260
post #193

Earlier quoted context omitted.

How does that protect you from someone who can seize your device? If they can seize your device they can also seize any physical assets that you possess. So your wealth exists only nominally, you can't really spend it.

The device holds a private key that can be regenerated from 12 seed words. The device itself doesn't really matter if you know these 12 words. The key is what lets you update ownership information on the public block chain. The wallet doesn't hold any coins on the device, just a key that let's you update the chain of public ownership. For example: - You live in Russia and see the writing on the wall for invasion and…

First of all, if you have to liquidate 90% of your wealth in the middle of a market crash you're going to lose most of it before you even get it out of the country. This, of course, assuming you can get out of the country, which for many people is not a realistic option. And finally, movements of capital across borders are highly regulated. You can't simply cross the border and "recreate" your wealth on the other side, because all you will have re-created is a pile of dirty money that now will have to be laundered at a great expense. All this is illegal, by the way.
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