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Stripe Crypto

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Re: Stripe Crypto

#411

Post by Shadonototra »

Stop flagging my legitimate concern and questions about the scam that are Crypto/NFTs market

Are you guys CCP agents trying to censor the people against this scam?

You want the news but not the concerns? c'mon lol

---

That's very sad, this should be banned Why should people accept money created out of thin air and speculation?

Why let that kind of criminal money into the economy?

Now america amassed ton of stock (coinbase, paypal and the plethora of other services), who really owns crypto coins nowadays?

This stuff smells bad, and yes, it should be banned

Shame on anyone who participate into this giant, state organized crime against the economy

Poor people won't realize they became even poorer because someone's random NFT picturing a $5 pixel art picture from Fiver, is worth more than their house

Re: Stripe Crypto

#412

Post by ranguna »

I'm failing to understand what this is.

Is stripe adding crypto support to the existing API (USD, EUR, and now some crypto coins). Or are they just allowing crypto businesses to accept fiat?

Re: Stripe Crypto

#413

Post by bb010g »

Nathanael_M wrote: post #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?

https://youtu.be/YQ_xWvX1n9g

Re: Stripe Crypto

#414

Post by ATsch »

TomGullen wrote: post #203
ATsch wrote: post #99

I'm sure this will go very differently from the last cryptocurrency bubble, where a whole bunch of merchants started accepting them, just to realize half a year later that beneath the hype, nobody was really interested in using these so-called currencies as an actual currency and quietly shelved it.

Used to be a big Bitcoin advocate, we accepted it on our website but removed it due to it just not being worth it for the odd sale with the extra accounting required. Bitcoins original goal was to be an online currency, this has not transpired nor do I think it ever will which is why I (unfortunately!) got out. Talking to random people on the street the main feeling I'm getting now is as some sort of gold analogue, w…

Indeed this is by design. Cryptocurrencies are deflationary, which means that it is always better to hold your coins than to spend them. They must be deflationary as there is no reason to mine them or buy in early other than the promise of future gains. Working well as an investment is antithetical to working well as a currency.

Re: Stripe Crypto

#415

Post by mattdesl »

ordinaryradical wrote: post #397
mattdesl wrote: post #362

Earlier quoted context omitted.

transaction fees on L2s are in fractions of a cent, certainly lower than the fees paid to PayPal or Stripe on regular international payments. a feeless public ledger seems unlikely to ever work at scale; it would immediately be polluted by spam.

A feeless public ledger already exists, is transacting around the world, and has overcome spam attacks multiple times at this point: Nano, from one of the original developers of Bitcoin.

thanks, hadn’t heard of Nano before, it looks interesting.

I should correct to say a decentralized public ledger “free of transaction costs” is hard if not impossible. Nano seems to remove fees by having users engage in PoW (ie: cost of energy expenditure), so it is feeless but not free.

Re: Stripe Crypto

#416

Post by traveler01 »

rsstack wrote: post #174
traveler01 wrote: post #93

Earlier quoted context omitted.

If you want to accept cryptocurrency payments and want a privacy focused service you can try Cryptapi...

Not to be negative, but when evaluating financial services CryptAPI are failing most checks: - Three employees on LinkedIn, none with a background in finance, security, accounting, etc. - No audited security certifications (PCI DSS doesn't directly apply, but there should be _something_ that shows that _someone_ checked their processes/code/infrastructure for reasonable best practices) - No fraud protection or anythi…

Well, I've been using their service for quite a while and it works great.

I like that each transaction is forwarded to my wallet right after the first confirmation on the blockchain, so the money is always on my side.

Re: Stripe Crypto

#417

Post by harel »

rmbyrro wrote: post #236
harel wrote: post #75

Earlier quoted context omitted.

To be honest, I thought your refusal was probably well justified considering the disproportionate levels of credit card fraud involved in anything to do with crypto. I'd love to see your end of year statistics now...

> disproportionate levels of credit card fraud involved in anything to do with crypto Source?

Personal observation on 2 projects. See above for details on another reply.

Re: Stripe Crypto

#418

Post by zarzavat »

uoaei wrote: post #374
hn_throwaway_99 wrote: post #347

Earlier quoted context omitted.

Ugh - not a fan of declaring everything you disagree with as "evil". I think NFTs, along with the vast majority (but not all) crypto, are total bullshit, but I also accept (a) I could be totally wrong in this, in which case, my loss, and (b) offering rails to sell these items doesn't strike me as "evil" in the slightest.

The magnitude of the carbon footprint alone is not enough to hit the threshold? How about the obvious breeding ground for scams, and the tacit approval by the community because all that money (assets) flows to the top? There are more reasons, too. Just because you don't understand someone's argument doesn't mean you should trivialize it.

On the carbon footprint: Ethereum will adopt proof of stake soon, of course you can trade NFTs on other chains but at least there’s an effort to drop the carbon footprint to very low levels. That’s more than you can say about most economic activities that have a large carbon footprint.

The scams seems like a very weak reason. The internet is full of scams, is the internet evil?

Re: Stripe Crypto

#419

Post by newswasboring »

MathCodeLove wrote: post #311
wmf wrote: post #271

Earlier quoted context omitted.

Stripe is largely selling well-made shovels for the gold rush here. ... This time around, they ... don't have any exposure to the volatile world of ETH or other coins. Which is... even more evil? They're encouraging an externality which harms normal people but not them.

They're not encouraging crypto anymore than a liquor store encourages alcoholism. The liquor store may lower the barrier to entry for obtaining a bottle of alcohol, but it's ultimately the alcoholics choice to enter the store and purchase it. Offering a product is not evil or immoral. It may be amoral but that's not the same as immoral. Ultimately the market decides what stays and goes except in extraordinary circums…

You are conflating logistics with morality. The market will provide argument may make sense logistically but that does not mean its morality.

Re: Stripe Crypto

#420

Post by rvz »

StewardMcOy wrote: post #386
rvz wrote: post #373

Earlier quoted context omitted.

> If it does, great, but Stripe should have waited until then to support ETH, and not support Bitcoin or other chains currently on proof-of-work. Maybe is that why I see Solana on the front-page of Stripe Crypto? Since that is a blockchain that is not only more eco-friendly [0] and many times faster than both Ethereum and Bitcoin put together but one can use right now today rather than waiting for Ethereum Proof-of-S…

> Maybe is that why I see Solana on the front-page of Stripe Crypto? This would be a great argument if Solana were the only cryptocurrency that Stripe was supporting, or if Stripe was only supporting cryptocurrencies with similar carbon footprints, but the top image above the fold is a screenshot of using Stripe to purchase Bitcoin. ETH and other PoW blockchains are also featured on the page. My core argument is that…

This is your suggestion:

> Stripe should have waited until then to support ETH, and not support Bitcoin or other chains currently on proof-of-work.

> but the top image above the fold is a screenshot of using Stripe to purchase Bitcoin. ETH and other PoW blockchains are also featured on the page.

I'm not the one telling Stripe and merchants to 'Wait for ETH to migrate to PoS' to support crypto payments, just because PoW blockchains still exist and are burning up the planet. Maybe you can tell the CEO of Stripe, (Patrick Collison [0]) to cut support for all PoW cryptocurrencies on Stripe then?

So you're also telling me there isn't a choice or a way to avoid PoW cryptocurrencies and only accept PoS cryptocurrencies? Are you also going to tell merchants to close their Stripe accounts because Stripe still plans to continue to support Bitcoin? Outside of Stripe, Bitcoin is still there and burning up the planet. It's not the only cryptocurrency that exists is it?

> My core argument is that supporting PoW blockchains does more damage than their carbon recapture efforts reduce.

And? Everyone knows that.

You can do something about that and not accept and cut support for those PoW cryptocurrencies as a merchant and use eco-friendly alternatives? If Bitcoin was the only cryptocurrency that exists today, then there would be NO choice and that would be a problem, but that is not the case today.

The presence of non-proof-of-work cryptocurrencies that exist and are working today like Solana, Algorand and Polkadot tells you that there is choice beyond PoW; even Stripe knows that.

[0] https://twitter.com/patrickc/

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