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Stripe Launches L1 Blockchain: Tempo

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Re: Stripe Launches L1 Blockchain: Tempo

#681

Post by hdjrudni »

alchemist1e9 wrote: post #285
notatoad wrote: post #226

Earlier quoted context omitted.

i'm still unclear what the crypto really adds to this play. stripe customers need to move their money around, and they need a trusted source to hold money. stripe could just do that. why add crypto into the mix?

So many of the crypto skeptic comments on this story are massively out of touch with the products and sophistication of the crypto industry. For those of us who aren’t, the question has basically been flipped to “what does a bank add to this situation?” . I’m typing this shortly after buying my groceries with a visa debit card that was funded 30 seconds before the transaction over Lightning Network with Bitcoin that…

So you paid a 0.1% fee for a less convenient way to pay? I just tap my credit card or phone, and then the CC company debits my bank account automatically a month later, essentially giving me a free small loan plus 2% cash back.

Re: Stripe Launches L1 Blockchain: Tempo

#682

Post by djrj477dhsnv »

arcticbull wrote: post #656
thehappypm wrote: post #582

Earlier quoted context omitted.

Venmo is essentially a stable coin

Other way around. Stablecoins are essentially Venmo for crime. They get zero benefit from a blockchain. They are centralized, trusted and permissioned. Circle can freeze the USDC in your self-custody wallet at any time and you’re on your own bud. This whole thing is antithetical to crypto’s core ethos. You could replicate USDC with a website where you log in with a password and move money between numbered accounts an…

Good. AML/KYC laws are a huge abuse of state power.

Re: Stripe Launches L1 Blockchain: Tempo

#683

Post by derangedHorse »

arcticbull wrote: post #656
thehappypm wrote: post #582

Earlier quoted context omitted.

Venmo is essentially a stable coin

Other way around. Stablecoins are essentially Venmo for crime. They get zero benefit from a blockchain. They are centralized, trusted and permissioned. Circle can freeze the USDC in your self-custody wallet at any time and you’re on your own bud. This whole thing is antithetical to crypto’s core ethos. You could replicate USDC with a website where you log in with a password and move money between numbered accounts an…

> Stablecoins are essentially Venmo for crime

What is your source for stablecoins being "for crime"? I've seen many individuals from countries all over the world utilize stablecoins in ways legal for their jurisdiction.

Re: Stripe Launches L1 Blockchain: Tempo

#684

Post by hdjrudni »

sundbry wrote: post #662
cco wrote: post #643

Earlier quoted context omitted.

> I’m typing this shortly after buying my groceries with a visa debit card that was funded 30 seconds before the transaction over Lightning Network with Bitcoin that was sold at a 0.1% fee for USD and immediately then transacted on Visa debit payment network. I think I'm confused. You paid 0.1% on this transaction, but if you'd done it with just a Visa debit card tied to a traditional bank account you would have paid…

He gets the benefit of just-in-time conversion to fiat; so his exposure to inflation purchasing power loss is nil.

What rate is he getting on his crypto? I get ~4% on my fiat.

Some cryptos are doing better than that, so it's certainly possible to beat, but I wouldn't chance the volatility. Unless it's doing better than that.. then I think inflation is eating the crypto, not the other way around?

Edit: I see, because Bitcoin isn't adding additional coins, it's "non-inflationary". I think this is moot when you ultimately have to transact through fiat, so the only thing that matters is BTC-USD conversion rate.

Re: Stripe Launches L1 Blockchain: Tempo

#685

Post by ac29 »

madamelic wrote: post #420
raincole wrote: post #403

Earlier quoted context omitted.

> a shared ledger implemented with traditional databases / protocols would be faster, easier, and more transparent. Stablecoin is not a technology. It's an excuse. An excuse to do what banks do while not being regulated like a bank or using the infrastructure banks use. Similar to how Airbnb is not a technology but an excuse to do what hotels do without hotel's license. So it makes no sense to compare it to database,…

Personally, I think US banking needs something an Uber or AirBnB style shake-up to get their act in order. It's awful how behind the times the US is when it comes to banking. 2 - 3 days to get money from one account to another is beyond embarrassing in the modern day. It took the US something like 15 years to get chip-and-pin. Banks are still these monolithic entities that don't care to innovate or listen to customer…

> 2 - 3 days to get money from one account to another is beyond embarrassing in the modern day

I've had next day ACH between all my various accounts for years now. Wires have also been a thing basically forever though most people need to pay to send and receive them. Same day ACH and FedNow are both out there too, though I've yet to see widespread implementation.

Re: Stripe Launches L1 Blockchain: Tempo

#686

Post by derangedHorse »

kccqzy wrote: post #463
madamelic wrote: post #420

Earlier quoted context omitted.

Personally, I think US banking needs something an Uber or AirBnB style shake-up to get their act in order. It's awful how behind the times the US is when it comes to banking. 2 - 3 days to get money from one account to another is beyond embarrassing in the modern day. It took the US something like 15 years to get chip-and-pin. Banks are still these monolithic entities that don't care to innovate or listen to customer…

Banks have banded together to create Zelle for mostly instantaneous payments for individuals. As far as transactions between individuals, moving money quickly is a solved money. As for moving money from individuals to businesses, taking a long time gives customers more "float" and more time to earn interest, and it is a feature not a bug.

There are other issues to consider in the payments world. For example, I may not want my payment data to be used for marketing purposes[1] or have my payment processor block my steam purchases[2]. I'm skeptical that Stripe will deliver on those gaps though.

[1] https://www.gao.gov/blog/why-do-banks-share-your-financial-i...

[2] https://www.thegamer.com/paypal-not-accepting-most-currencie...

Re: Stripe Launches L1 Blockchain: Tempo

#687

Post by arcticbull »

derangedHorse wrote: post #683
arcticbull wrote: post #656

Earlier quoted context omitted.

Other way around. Stablecoins are essentially Venmo for crime. They get zero benefit from a blockchain. They are centralized, trusted and permissioned. Circle can freeze the USDC in your self-custody wallet at any time and you’re on your own bud. This whole thing is antithetical to crypto’s core ethos. You could replicate USDC with a website where you log in with a password and move money between numbered accounts an…

> Stablecoins are essentially Venmo for crime What is your source for stablecoins being "for crime"? I've seen many individuals from countries all over the world utilize stablecoins in ways legal for their jurisdiction.

> The devastating impact of these scams is evident in the staggering losses reported globally. In 2024 alone, cryptocurrency investment fraud, largely driven by pig butchering schemes, caused over $5.8 billion in reported losses in the U.S. The anonymity and cross-border nature of cryptocurrency transactions have historically made these scams incredibly challenging to investigate and prosecute, allowing criminal syndicates to operate with relative impunity.

https://blockchain.bakermckenzie.com/2025/07/01/the-225-mill...

It’s slower, riskier, with less protection and usually more expensive than a classical financial transaction. So it self selects for criminals.

Re: Stripe Launches L1 Blockchain: Tempo

#688

Post by arcticbull »

djrj477dhsnv wrote: post #682
arcticbull wrote: post #656

Earlier quoted context omitted.

Other way around. Stablecoins are essentially Venmo for crime. They get zero benefit from a blockchain. They are centralized, trusted and permissioned. Circle can freeze the USDC in your self-custody wallet at any time and you’re on your own bud. This whole thing is antithetical to crypto’s core ethos. You could replicate USDC with a website where you log in with a password and move money between numbered accounts an…

Good. AML/KYC laws are a huge abuse of state power.

Great opinion.

Re: Stripe Launches L1 Blockchain: Tempo

#689

Post by jdminhbg »

gamblor956 wrote: post #478
jchw wrote: post #148

Earlier quoted context omitted.

A lot of us are not really deep into the finance space. Maybe there's a good reason it's left unsaid, but the question I came away with after reading that page and this comment is, why are businesses finding crypto easier/faster/better? To me, it's not 100% clear exactly who Tempo is for and not for, and why blockchain is more suitable than traditional centralized database technology here. And it sounds like this sys…

It's left unsaid because the truth is that businesses are not finding crypto easier, faster, or better. In most cases, it's the exact opposite. But crypto excels at one thing: obfuscation. A regular log or ledger file could accomplish the same thing as a blockchain for significantly less technical debt or ongoing expense. And note that the best use cases Stripe could find for "real world" use cases were a company try…

> A regular log or ledger file could accomplish the same thing as a blockchain

It is kind of wild how a bunch of people hyping blockchains five years ago has resulted in a thermostatic reaction where a bunch of other people have decided that distributed computing is easy, actually, you just need a ledger file.

Re: Stripe Launches L1 Blockchain: Tempo

#690

Post by soared »

knorker wrote: post #536
apinstein wrote: post #151

Here's the play. It's very simple, and it's quite good. Stripe processes a LOT of money. The customers that get that money need to move it around. Often to banks. Stripe makes no money on that. Over the last few years, stablecoins have become a preferred means to hold and move money (for convenience, etc). Stablecoin providers make money on their float -- selling stablecoins means you get free deposits, and risk-free…

> Over the last few years, stablecoins have become a preferred means to hold and move money (for convenience, etc). Huh? In the western world this is nonsense. I move 6-7 digits regularly, internationally, even between continents, for free. Convenience of cryptocurrency? Lol. Maybe if I want to send money to Nigeria or North Korea. Cryptocurrency was never more convenient. It's cheaper than Western Union when that's…

How are you doing it for free, how long does it take, and what happens if something goes wrong?

These are the things companies want. With current methods you must take on risk to move money cheaper, faster, or without chargebacks/etc.

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