Re:Web3 is centralized and inefficient
by everfree on Wednesday March 23, 2022 @03:06PM
(#30782039)
> Nope. Still need to convert it to real money for buying something. Gas fees > transfer fees.
Sure, if you choose an expensive (congested) blockchain to make the transaction. Otherwise the fees are about comparable or in some cases even less (below 1% for a round-trip from "real money" to crypto and back).
> Without an underlying economic activity it's all a ponzi scheme.
What do you mean by "underlying economic activity", and what kind of such activity does for example a bank or fintech possess that distributed ledger tech does not?
Sure, if you choose an expensive (congested) blockchain to make the transaction. Otherwise the fees are about comparable or in some cases even less (below 1% for a round-trip from "real money" to crypto and back).
> Without an underlying economic activity it's all a ponzi scheme.
What do you mean by "underlying economic activity", and what kind of such activity does for example a bank or fintech possess that distributed ledger tech does not?