Re:An embeddable and customizable fiat-to-crypto onramp
by meowkit on Thursday December 01, 2022 @05:23PM
(#33823820)
>A system without fraud protections (i.e. wires) is a much more efficient solution
The assumption here of efficiency by any metric is the wrong thinking for crypto. Energy/speed are being optimized for, but they are not the goals.
Wires don't have composability. Blockchains do.
https://ethereum.org/en/developers/docs/smart-contracts/comp...
You may not like the logic, but the reason it was so easy for V and MA to cut porn is because the insane amount of porn chargebacks ("yeah I didn't make that purchase, it's fraud").
A system without fraud protections (i.e. wires) is a much more efficient solution than a farm full of GPUs in Austin.