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Stripe Launches L1 Blockchain: Tempo

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Re: Stripe Launches L1 Blockchain: Tempo

#591

Post by alchemist1e9 »

kiitos wrote: post #509
alchemist1e9 wrote: post #439

Earlier quoted context omitted.

What is complicated? It takes seconds on my phone, must less complicated than writing a comment on HN! The processing fees are lower for vendors than credit card fees if they accept LN Bitcoin. For me the “savings” account is completely self custody held in a non-inflationary non-depreciating currency called Bitcoin. Massive value for everyone by cutting out the legacy banks. As I said earlier, unless you actually do…

it turns out that legal regulations are Actually Good and Really Important

And how did you come to that conclusion? From all the money laundering done by the traditional banks for the cartels once they bribe the right AML personnel?

Re: Stripe Launches L1 Blockchain: Tempo

#592

Post by prettyblocks »

sethops1 wrote: post #43
prettyblocks wrote: post #12

Earlier quoted context omitted.

Blockchains might not have hundreds of millions of users, but popular L1s have volumes in the many billions of dollars.

These metrics are so trivial to inflate they are effectively meaningless.

It's not meaningless to the folks collecting fees for securing the chain.

Re: Stripe Launches L1 Blockchain: Tempo

#593

Post by gip »

Crypto has delivered a lot of great projects in the past 10+ years: * A new store of value (Bitcoin) * Programmable money with a lot of innovation still happening (Ethereum ecosystem) * Fully compliant chains for decentralized finance and payments * Fully compliant solutions for enterprises (Ripple and tons of others) * Projects that support financial inclusion worldwide (Stellar is awesome) * Stablecoins - basically stable, open, regulated money with lower fees * Privacy is the next focus with zero-knowledge (a very impressive tech) is being integrated * ... and a lot more ...

Sure, some people thought buying tokens was a way to become rich quick and lost money. Yes, some projects were not regulated and the regulators need to catch up. But overall progress is impressive imo.

Re: Stripe Launches L1 Blockchain: Tempo

#594

Post by argiopetech »

consp wrote: post #476
lacy_tinpot wrote: post #445

Earlier quoted context omitted.

Protection and control are indistinguishable. And secondly what if the State is a bad actor? "Protecting" free trade from "bad actors" is just an extension of the state to control what "free trade" is from what it considers "bad actors". Bad behavior does exist, but current technology far exceeds the capacity of bureaucracy to implement free trade, protection from bad actors, and most importantly Trust. The state its…

> And secondly what if the State is a bad actor? That's ad hominem. You can make that argument for any player (stripe, any intermediary, the customer etc). Personally I trust the state (at least mine) more than any corporation. But that's just me.

Depends. For the Founders of the US, it was a base assumption that the state was a bad actor. It's usually a good bet (i.e., it pays off more times than not), IMHO.

Re: Stripe Launches L1 Blockchain: Tempo

#595

Post by hrdwdmrbl »

ozgrakkurt wrote: post #546
hrdwdmrbl wrote: post #388

Blockchain people have always hated chargebacks, but any successful payment rail needs a system for dispute resolution. I run e-commerce business and I’ve received bullshit chargebacks before. But I’m also a consumer and I’ve filed legitimate chargebacks before. Related: I’ve also had my bank send money to the wrong place before. There must be some means of reversing transactions in some cases. Some arbitration mecha…

You can easily build escrow on chain but obviously it can’t decide on chargebacks. So you need a real world entity that is responsible for that. You already have binance b2b and similar stuff that do escrow and it works ok

There do exist automated dispute resolution mechanisms like UMA. Though even they reduce to human voters when results are disputed.

So effectively yes, you need (a) decision maker(s) in the loop.

Re: Stripe Launches L1 Blockchain: Tempo

#596

Post by moonraker »

dperfect wrote: post #348
pc wrote: post #46

There are lots of crypto skeptics on HN (and we ourselves were disappointed with crypto's payments utility for much of the past decade), so it might be interesting to share what changed our mind over the past couple of years: we started to notice a lot of real-world businesses finding utility in stablecoins. For example, Bridge (a stablecoin orchestration platform that Stripe acquired) is used by SpaceX for managing…

It sounds great, but every time I see this argument, I end up going down the rabbit hole of actually studying how stablecoins operate. And every time, I come to the same conclusion: they always rely on trust in an off-chain oracle or custodian. At that point, a shared ledger implemented with traditional databases / protocols would be faster, easier, and more transparent. Bitcoin (and possibly a few others) is one of…

Stripe's a $90bn+ company because it builds & sells tools that make it easy for software engineers to programmatically move and manipulate money. This is a no brainer for them (regardless of how mainstream stablecoins/cryptocurrencies/blockchain eventually become)

Re: Stripe Launches L1 Blockchain: Tempo

#597

Post by spaceman_2020 »

pc wrote: post #46

There are lots of crypto skeptics on HN (and we ourselves were disappointed with crypto's payments utility for much of the past decade), so it might be interesting to share what changed our mind over the past couple of years: we started to notice a lot of real-world businesses finding utility in stablecoins. For example, Bridge (a stablecoin orchestration platform that Stripe acquired) is used by SpaceX for managing…

My biggest reason to be a crypto believer right now is stablecoins, international payments, and agentic AI.

It's inevitable that agentic AI will handle a lot of workload online eventually. We can't expect these agents to work on existing payment rails, what with their fees and slow settlement and international payment hurdles.

AI agents that can pay each other when necessary - even tiny fractional amounts - will be a massive use case.

Re: Stripe Launches L1 Blockchain: Tempo

#598

Post by taberiand »

forgotTheLast wrote: post #498
taberiand wrote: post #494

Earlier quoted context omitted.

[flagged]

That term has a very specific meaning and I wish people stopped using it to mean "big tech doing something bad"

Yes I know, which is why I looked up the Wikipedia definition to make sure I was using it correctly.

Stripe provides a trusted service to its users, has a great reputation, then implements changes that will degrade that service by avoiding regulations designed to protect the consumer.

Adding blockchain is enshittification.

Re: Stripe Launches L1 Blockchain: Tempo

#599

Post by simonw »

matthewmueller wrote: post #539
simonw wrote: post #197

Earlier quoted context omitted.

Can you say more about the SpaceX use-case? Are they paying for rocket parts from some of their vendors using crypto?

https://techcrunch.com/2025/01/31/stablecoins-are-finding-pr...

Sounds like it's used for accepting payment from Starlink customers in numerous counties:

> The company [SpaceX] partnered with Bridge, a stablecoin payments platform, to accept payments in various currencies and instantly convert them into stablecoins for its global treasury.

Re: Stripe Launches L1 Blockchain: Tempo

#600

Post by degamad »

latchkey wrote: post #521
9dev wrote: post #441

Earlier quoted context omitted.

Other countries managed to regulate their banks to innovate just fine without blockchain technology, though. It doesn’t always need a startup to disrupt something by flipping the finger to lawmakers. Sometimes humble regulation is enough. Take SEPA as an example: I can transfer money free of charge to any European bank account, in a few seconds.

Small money is fine. Any big transaction will get flagged and potentially delayed. I don't know about you, but I'd rather use a system that allows me to do what I want with my funds without anyone else controlling it.

> I don't know about you, but I'd rather use a system that allows me to do what I want with my funds without anyone else controlling it.

How do we know that this unusual transaction is you doing what you want and not someone else controlling and defrauding you?

A small well-understood amount of friction that significantly reduces everyone's risk is not an attempt to control your funds.

Old systems with arbitrary delays based on twentieth century processes should be replaced, but not everything needs immediate infinite speed to be valuable.

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