Not really a meme meme, but i felt like i had to :s
this post was submitted on 24 Jul 2025
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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?
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.
We are discussing how to counter the monopoly stranglehold of payment processors. Crypto is a possible solution that is viable today.
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.
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.