this post was submitted on 14 Sep 2023
1468 points (95.0% liked)
Memes
44080 readers
1814 users here now
Rules:
- Be civil and nice.
- Try not to excessively repost, as a rule of thumb, wait at least 2 months to do it if you have to.
founded 5 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
I genuinely tried to look for a legit way to make it an option for paying in a small online store without having to depend on paypal or a bank gateway.
Well transaction fees for any big coin are like many dollars per transaction. It's ridiculous. For smaller transaction fees you have to go to smaller coins that can disappear or lose half their value one day to the next.
And still, if we forget thar people wouls need to pay like a 14€ fee for 1€ transaction. They still have to go to a exange to change their money, and then I have to change it back, because very little things can be bought with crypto, less with cryptos that doesn't have ridiculous transaction fees.
Did I mention than transaction are not instantaneous either? Unless you pay big transaction fee or use some obscure coin that no one uses.
At the end, I ended up with paypal. I really wanted a way to be "independent" of big companies for transaction. But crypto is completely ruined (if it was ever functional that I doubt it). It's not a coin, they are just speculation and bets. With cybercrime and drug dealing being the only "real" uses it has.
Layer 2 networks like Arbitrum resolve the issue of high transaction fees and still be able to transact in ETH. I get there is hurdles compared with the simplicity of PayPal, but at least some of us prefer decentralized payment options where possible.