crypto

Serious question:

Why don’t more businesses today run purely on crypto?

Is it legal? Accounting? Tax? Tooling? On/off ramps? 

Why not?

𝓵𝓲𝓿𝓲𝓷𝓰 𝓽𝓱𝓮 𝓮𝓷𝓭𝓵𝓮𝓼𝓼 𝓼𝓾𝓶𝓶𝓮𝓻 · bootstrapping apps · stride.systems · skeet.build · buoy.club

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.

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.

Cheapest processing fees
Near instant settlement 
No chargeback risks 
Stable coins prevent volatility
Bank can’t hold you hostage, esp for seedy businesses