Re:Blockchain in a Nutshell
by arcticbull on Sunday May 08, 2022 @06:04AM
(#31302668)
Ok but it's not value if you can't spend it on things. In order to spend it on things you have to convert it to something that can be spent. So it's disingenuous to exclude that conversion step from your calculus.
> ... but any merchant or online platform that decides to accept XTZ as a form of payment can already do so to mitigate the 2-5% payment processing fees that I mentioned earlier.
But of course they won't because they can't spend it on things, like the inputs to the goods they sell (be that physical, rent or mortgage). They'll need to convert it, and that conversion fee will be something you pay by marking up the cost of goods.
Re:Blockchain in a Nutshell
by mattdesl on Monday May 09, 2022 @04:30AM
(#31311822)
I already am spending it on things e.g. art, donations, and peer-to-peer international payments. The number of services accepting crypto can continue to grow without transfers reaching the 2-5% processor fees I mentioned earlier.
> ... but any merchant or online platform that decides to accept XTZ as a form of payment can already do so to mitigate the 2-5% payment processing fees that I mentioned earlier.
But of course they won't because they can't spend it on things, like the inputs to the goods they sell (be that physical, rent or mortgage). They'll need to convert it, and that conversion fee will be something you pay by marking up the cost of goods.