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A comment on What Happened with the Web Monetization API?. Parent comment

Re:What Happened with the Web Monetization API? by johannes1234321 on Tuesday February 06, 2024 @02:26PM (#39279246)
Blockchain isn't really the solution there, though.

I don't want a public ledger with all my payments, which tells not only what I consume, but also how much I am able/willing to spend.

And as soon as you are in massmarket you need ways for humans to intervene, for handling complaints, mistakes, whatever or dealing with the unavoidable case that individuals lose their secret keys. Or even cases like medical restriction or inheritance requiring others to take over the funds.

All those things Blockchain purposely and inherently prevents.

[ Parent | on HN ]
Re:What Happened with the Web Monetization API? by pants2 on Tuesday February 06, 2024 @02:54PM (#39279626)
You can just send a transaction from your exchange.

Like, let's say I want to send you $0.10 right now. I would just go into Robinhood and send 0.1 USDC to you on Polygon or Solana, that would arrive in your wallet instantly from a Robinhood-owned address, you would have no idea who I am or my previous transaction history. Robinhood also owns the private keys and account recovery process here - it's just using blockchain as the payment rail.

Go ahead and post your address and I'll send you $0.10.

[ Parent | on HN ]
Re:What Happened with the Web Monetization API? by johannes1234321 on Tuesday February 06, 2024 @03:01PM (#39279735)
Okay, so the solution is to use a bank, not Blockchain money.
[ Parent | on HN ]
Re:What Happened with the Web Monetization API? by pants2 on Tuesday February 06, 2024 @03:23PM (#39280018)
But you can't send $0.01 instantly and anonymously with bank rails. The solution is to use a crypto exchange on crypto rails - just not a regular crypto wallet (you could, but perhaps not very user friendly)
[ Parent | on HN ]
Re:What Happened with the Web Monetization API? by _heimdall on Wednesday February 07, 2024 @07:41AM (#39287833)
Isn't that just turning the exchanges into unregulated banks?
[ Parent | on HN ]
Re:What Happened with the Web Monetization API? by pants2 on Wednesday February 07, 2024 @11:54AM (#39290887)
Many exchanges are regulated, but maybe not as banks. But yes you're trusting that exchange with your money. If used for web-micropayments it shouldn't be much of an issue though.
[ Parent | on HN ]