Expanding access to the future of work with crypto payouts
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Re: Expanding access to the future of work with crypto payouts
#2It is a massive mistake that Stripe is offering anything in the crypto space as everyone and Stripe knows it is full of fraud, money laundering, scams and it is completely unregulated.
I look forward to the day that Stripe will get investigated for all of the above with this and end up like Paypal, eventually freezing or banning these accounts.
Crypto does not offer anything new at all.
EDIT: It seems Stripe and Crypto apologists have downvoted & flagged my comment since Stripe is somehow a HN / YC darling that is immune from valid criticism even if they venture into crypto scamming, with no usecase that is better than the current financial system.
Crypto is only used for speculating and will eventually collapse under regulation.
@karaterobot
Stripe is no exception here for regulation and will comply by banning accounts if these 'remittances' are fraudulent as the majority of them most likely are.
Even in El Salvador, the country that has adopted bitcoin, merchants aren't using it for payments because they lose money extremely quickly due to volatility, so there isn't a usecase for cryptocurrencies or blockchain at all.
Re: Expanding access to the future of work with crypto payouts
#3It is a massive mistake that Stripe is offering anything in the crypto space as everyone and Stripe knows it is full of fraud, money laundering, scams and it is completely unregulated. I look forward to the day that Stripe will get investigated for all of the above with this and end up like Paypal, eventually freezing or banning these accounts. Crypto does not offer anything new at all. EDIT: It seems Stripe and Cryp…
this is a real lazy take mate. i mean, i agree that the crypto industry is plauged by fraud and posers, but to say that blockchain offers nothing new is just showing ignorance of the technology.
i recommend reading the original bitcoin whitepaper to understand what is new: https://bitcoin.org/en/bitcoin-paper
Re: Expanding access to the future of work with crypto payouts
#4It is a massive mistake that Stripe is offering anything in the crypto space as everyone and Stripe knows it is full of fraud, money laundering, scams and it is completely unregulated. I look forward to the day that Stripe will get investigated for all of the above with this and end up like Paypal, eventually freezing or banning these accounts. Crypto does not offer anything new at all. EDIT: It seems Stripe and Cryp…
this is a real lazy take mate. i mean, i agree that the crypto industry is plauged by fraud and posers, but to say that blockchain offers nothing new is just showing ignorance of the technology. i recommend reading the original bitcoin whitepaper to understand what is new: https://bitcoin.org/en/bitcoin-paper
What can crypto and blockchain legitimately offer that is better than what the current financial system offers?
The Bitcoin whitepaper outlines a P2P payments system, today it isn't used as such, rather a store of value, not even Stripe is using Bitcoin for payments at all.
So what use are these cryptocurrencies for, if not for scams and fraud?
Re: Expanding access to the future of work with crypto payouts
#5Earlier quoted context omitted.
this is a real lazy take mate. i mean, i agree that the crypto industry is plauged by fraud and posers, but to say that blockchain offers nothing new is just showing ignorance of the technology. i recommend reading the original bitcoin whitepaper to understand what is new: https://bitcoin.org/en/bitcoin-paper
What can crypto and blockchain legitimately offer that is better than what the current financial system offers? The Bitcoin whitepaper outlines a P2P payments system, today it isn't used as such, rather a store of value, not even Stripe is using Bitcoin for payments at all. So what use are these cryptocurrencies for, if not for scams and fraud?
From the article:
> Speed is one advantage of crypto payouts. Reach is another. Millions of talented freelancers live in countries where it’s hard, if not impossible, to open a local bank account. For example, a majority of the people in Djibouti, El Salvador, and Bhutan don't have bank accounts. With Stripe, freelancers in those countries are now able to receive funds via USDC in minutes. With the addition of USDC, Stripe cross-border payouts extend to more than 4.4 billion people in more than 110 countries—a majority of the world’s population.
Re: Expanding access to the future of work with crypto payouts
#6Earlier quoted context omitted.
this is a real lazy take mate. i mean, i agree that the crypto industry is plauged by fraud and posers, but to say that blockchain offers nothing new is just showing ignorance of the technology. i recommend reading the original bitcoin whitepaper to understand what is new: https://bitcoin.org/en/bitcoin-paper
What can crypto and blockchain legitimately offer that is better than what the current financial system offers? The Bitcoin whitepaper outlines a P2P payments system, today it isn't used as such, rather a store of value, not even Stripe is using Bitcoin for payments at all. So what use are these cryptocurrencies for, if not for scams and fraud?
absolute control of your own money. borderless currency. distributed applications/smart contracts outside the reach of any state. these are my personal faves
Re: Expanding access to the future of work with crypto payouts
#7It is a massive mistake that Stripe is offering anything in the crypto space as everyone and Stripe knows it is full of fraud, money laundering, scams and it is completely unregulated. I look forward to the day that Stripe will get investigated for all of the above with this and end up like Paypal, eventually freezing or banning these accounts. Crypto does not offer anything new at all. EDIT: It seems Stripe and Cryp…
Crypto is very popular among people working in rich countries who send remittances back to their families in other countries. That's a legitimate use, a very popular use, and is obviously what Stripe is going for here.
Re: Expanding access to the future of work with crypto payouts
#8Earlier quoted context omitted.
this is a real lazy take mate. i mean, i agree that the crypto industry is plauged by fraud and posers, but to say that blockchain offers nothing new is just showing ignorance of the technology. i recommend reading the original bitcoin whitepaper to understand what is new: https://bitcoin.org/en/bitcoin-paper
What can crypto and blockchain legitimately offer that is better than what the current financial system offers? The Bitcoin whitepaper outlines a P2P payments system, today it isn't used as such, rather a store of value, not even Stripe is using Bitcoin for payments at all. So what use are these cryptocurrencies for, if not for scams and fraud?
transparent algorithmic governance.
I think it is easy to dismiss as a value proposition. In the end, the future will show, so we probably should not spend too much time speculating.
Re: Expanding access to the future of work with crypto payouts
#9Earlier quoted context omitted.
this is a real lazy take mate. i mean, i agree that the crypto industry is plauged by fraud and posers, but to say that blockchain offers nothing new is just showing ignorance of the technology. i recommend reading the original bitcoin whitepaper to understand what is new: https://bitcoin.org/en/bitcoin-paper
What can crypto and blockchain legitimately offer that is better than what the current financial system offers? The Bitcoin whitepaper outlines a P2P payments system, today it isn't used as such, rather a store of value, not even Stripe is using Bitcoin for payments at all. So what use are these cryptocurrencies for, if not for scams and fraud?
> What can crypto and blockchain legitimately offer that is better than what the current financial system offers?
Cancellation resistance. Protection from oppressive governments trying to squash freedom. Protection from retroactive laws targeting previously legal transactions. Asset protection.
And look I agree with you. And everything I posted above carries a huge cost given the volatility of most cryptocurrencies, but unfortunately we live in times where if you truly care about freedom from tyranny, your behaviour is going to overlap heavily with criminal behaviour.
Re: Expanding access to the future of work with crypto payouts
#10Earlier quoted context omitted.
What can crypto and blockchain legitimately offer that is better than what the current financial system offers? The Bitcoin whitepaper outlines a P2P payments system, today it isn't used as such, rather a store of value, not even Stripe is using Bitcoin for payments at all. So what use are these cryptocurrencies for, if not for scams and fraud?
From the article: > Speed is one advantage of crypto payouts. Reach is another. Millions of talented freelancers live in countries where it’s hard, if not impossible, to open a local bank account. For example, a majority of the people in Djibouti, El Salvador, and Bhutan don't have bank accounts. With Stripe, freelancers in those countries are now able to receive funds via USDC in minutes. With the addition of USDC,…
USDC is a completely centralised 'stablecoin' and has a blacklist function which means they can seize funds of people who they don't like. USDC again is not even regulated as I said with no proof backing this other than 'attestations' which is not a full audit of reserves.
How is this decentralised money that was promised by crypto and blockchain? You may very well use Wise, Moneygram and other regulated alternatives which works better, is also relatively faster and is more stable and widely accepted than these USDC tokens.