Re:Show HN: PeerSend – Social Payments powered by crypto
by kevinak on Wednesday October 06, 2021 @06:43AM
(#28771456)
This isn’t built on top of Bitcoin, it’s built on Bitcoin hard fork. Also, why would you use stable coins and thus adding a centralised point of failure when Bitcoin already solves this? Just use it as payment rails.
Re:Show HN: PeerSend – Social Payments powered by crypto
by rglullis on Wednesday October 06, 2021 @07:09AM
(#28771638)
> Also, why would you use stable coins
- Because merchants do not want a volatile currency.
- Because people in countries with weaker currencies might be interested in accepting/transacting in something that gives them USD/EUR/GBP/JPY.
- Because there are DeFI protocols that are giving better returns than any savings account ever could.
A suggestion (since PeerSend is limited to payments with bitcoin / lightining?): Consider building this on top of stable coins likes USDC, DAI, either on offchain networks like celo.org, or lenders like goldfinch, or stacks like silamoney.com
I really believe cross border payments is an important problem to solve (with more and more workforce going remote and products like tryjeeves, brex, usealloy atop traditional financial instruments notwithstanding) and that stable coins can enable that.
Also see: paymobil.co and lastbit.io