Re:Crypto is an unproductive bubble
by hiq on Saturday March 19, 2022 @08:55AM
(#30733367)
> 0 fee
Every time I look at a no fee platform in the cryptocurrency world, it turns out that it's subsidized somehow. If you want to make a fair comparison with e.g. SEPA transfers, you have to assess where this comes from. For a lot of these networks, it's just a way to gain adoption and it doesn't reflect whether it's sustainable for them in the longer-term.
The compromise I have to make as a user is to use their cryptocurrency with all the drawbacks it has. But it doesn't matter if it takes me no time to send $CRYPTO if I need to wait hours before I can convert it back to fiat money and actually use it. That will remain the case as long as these cryptocurrencies remain niche, it's a bootstrapping problem.
Every time I look at a no fee platform in the cryptocurrency world, it turns out that it's subsidized somehow. If you want to make a fair comparison with e.g. SEPA transfers, you have to assess where this comes from. For a lot of these networks, it's just a way to gain adoption and it doesn't reflect whether it's sustainable for them in the longer-term.
The compromise I have to make as a user is to use their cryptocurrency with all the drawbacks it has. But it doesn't matter if it takes me no time to send $CRYPTO if I need to wait hours before I can convert it back to fiat money and actually use it. That will remain the case as long as these cryptocurrencies remain niche, it's a bootstrapping problem.