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Michael Pfister
@pfista
Serious question: Why don’t more businesses today run purely on crypto? Is it legal? Accounting? Tax? Tooling? On/off ramps? Why not?
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kia
@kia.eth
why should they?
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Michael Pfister
@pfista
Cheapest processing fees Near instant settlement No chargeback risks Stable coins prevent volatility Bank can’t hold you hostage, esp for seedy businesses
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kia
@kia.eth
none of these are that big of a headache to be a 10x improvement tho. especially if customers don't want to pay in crypto. i have a long winded rant about how coinbase can disrupt visa. the TLDR of it is that you need backwards compatibility, same UX and significant incentives for both sides of a trade to use crypto.
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notdevin
@notdevin.eth
Consumers don’t need to pay in crypto, and all of those advantages to a merchant are definitely a 10x improvement imo Kia, let me run your through one of our flows this week. My two cents, if coinbase disrupts visa then self custody has failed and we still have further to go before we free our money.
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Michael Pfister
@pfista
Doesn’t that future seem inevitable to you though? It seems like everyone will talk about all the problems until one day everyone is just using crypto. Trying to uncover the problems that can be solved today on the business side to drive that adoption
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jj 🛟
@jj
Would like to hear this rant. Especially in cities I’m better there’s a lot of people with coinbase wallets. And transaction fees being virtually 0, why can’t this be done?
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