1119
Creative Title (lemmy.world)
submitted 1 year ago by to c/memes@lemmy.world
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Not really a meme meme, but i felt like i had to :s

The "1984 Calendar" meme template where the woman says "Payment processors are banning NSFW content on all platforms by threatening to stop processing payments."
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[–] -4 points 1 year ago (10 children)

Looks like Bitcoin does indeed suck, but Etherium and one called Avalanche(?) Are more environmentally friendly.

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  • [–] 11 points 1 year ago (9 children)

    Oh cool. Minor environmental disasters wrapped in explosive deflation.

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  • [–] 1 point 1 year ago (8 children)

    It takes one wind turbine to run all of Ethereum.

    Deflation is not relevant for a transaction.

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  • [–] 3 points 1 year ago (7 children)

    Deflation is not relevant for a transaction

    What are you trying to say with this? Cause I'm stuck between the very literal and wildly confusing.

    I will say, regardless of your further explanation, that deflation makes transactions less likely to happen, which is the whole point of a currency to begin with. Would you rather pay a debt to a friend off with dollars or a cryptocoin? Cause my money is that most people would say the dollars since the crypto could grow, whereas the dollar is always shrinking. A speculative asset is not something most people would give away like they would money.

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  • [–] 1 point 1 year ago (6 children)

    If you are storing money in a certain currency then inflation is a problem.

    If you owe money in a certain currency then deflation is a problem.

    If you are quickly moving money from one currency to another then making an instant one off payment, the time span is too small for either inflation or deflation to have an impact.

    The price of the service can be quoted as fixed in USD and adjusted in real time on the crypto side.

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  • [–] 1 point 1 year ago (5 children)

    Cool. So why would I ever want that? Why would I willingly buy a crypto to pay for a transaction when doing so is always detrimental to me over the person who I am paying? I'll spend more than the amount of debt I have (thanks to various fees) in order to give the person I'm buying from an asset that's more likely to gain value than lose. Instead of a dollar, a thing made to do the actual job of a currency that everyone already has and accepts.

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  • [–] 1 point 1 year ago (4 children)

    Cool. So why would I ever want that?

    So that anyone can buy what they want from whoever they want. So that payment processors cannot hold or be held by certain groups for ransom.

    You know, the whole point of this thread.

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  • [–] 1 point 1 year ago (3 children)

    Okay, so. First comment made this argument, to which I fired back that I'm not interested because:

    Crypto is not a currency Is an environmental disaster Has massive deflation

    And since this thread has begun we've changed that to:

    Is not a currency (you ceded this when you said that transactions would be in USD, just with the crypto as the value carrier) Are mostly environmental disasters Has massive deflation (you ceded this again with your transactional argument)

    Damn, your powers of persuasion are beyond my comprehension. /s

    Seriously, the fuck are we doing here? You just wanna talk about nothing? I rather think daisies are pretty. What're your thoughts?

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  • [–] 0 points 1 year ago (2 children)

    Crypto is not a currency Is an environmental disaster Has massive deflation

    My first response delt with this. Only bitcoin is an environmental disaster. Deflation is only relevant if you hold a currency long term. Irrelevant for payment processing.

    Seriously, the fuck are we doing here?

    We are discussing how to counter the monopoly stranglehold of payment processors. Crypto is a possible solution that is viable today.

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  • [–] 2 points 1 year ago (1 child)

    Alright. Here's an argument why crypto doesn't do that.

    Today: Me Payment processor Vendor

    Crypto tomorrow: Me Payment processor Crypto Crypto fees Payment processor Vendor

    So not only am I paying the payment processor twice as much for the interaction (it doesn't matter which processor, since the issue at hand is their monopoly) thus rewarding their censorship, I also wasted a whole bunch more money for the privilege.

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  • [–] 1 point 1 year ago* (last edited 1 year ago)

    Yes, the round trip is more expensive.

    But if you receive some income in crypto and park it in a stablecoin (like USDC) then you can avoid the price volatility risks and round trip fees. The crypto fees are much less than 2% and this also avoids rewarding censorship.

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