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Thomas
@aviationdoctor.eth
Paraphrasing @vitalik.eth just now at TOKEN2049 Singapore: Transaction fees have historically been the roadblock to actual crypto adoption, ahead of UX. The cost of transactions killed off the early and earnest efforts to use either BTC or ETH for day-to-day payments. In places like Argentina, people use crypto but have moved to doing Binance-to-Binance transfers, which are free but also centralized and custodial, which defeats the purpose. However, L2s now offer sub-cent transactions, opening up a new era for payments. Wallet UX is also getting better (e.g., Daimo) but TradFi payment rails have kept up with usability improvements of their own (Venmo, SEPA, etc.). Crypto can bypass the int’l politics that are the main limiting factor in cross-border TradFi payments. Crypto is ultimately digital concrete — blockchains are robust, permanent structures. With digital concrete, we can build digital castles in the sky. [Personal note: I love the fresh idea of ETH as digital concrete rather than digital oil]
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Tokenized Human
@tokenizedhuman
Off ramping to fiat is still a massive adoption roadblock in my mind, no matter how cheap tx fees get.
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abrikos 🎩
@abrikos
Never heard of Daimo. Will check it out.
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kugusha 🦋
@kugusha.eth
Somehow being in SG made me even more optimistic about the future.
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Nona𐦍༘⋆
@nonaa.eth
Greatttttt but do you think subcents from L2 solutions will be enough for day-day payments?
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Eren🎩
@baeshy.eth
Wdym digital concrete
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Zorquzor8
@zefensol
High transaction fees hindered crypto adoption. But L2s offer sub-cent transactions, opening new era for payments. Wallet UX improving. Crypto bypasses int’l politics in cross-border payments. Crypto is digital concrete, building digital castles in the sky
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toro
@toro
Digital concrete...interesting. I like where you're going with it. Concrete isn't as flashy or sexy as digital oil. But I think that's a good shift. It invokes descriptions like: Solid, Durable, Reliable, Permanent, Structural, Formidable, Practical, Substantial, Grounded, Dense
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🌹 zach harris 🥀
@zachharris.eth
Strong bridges need stronger foundations and rebar
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Rafi
@rafi
Digital concrete — I will borrow that
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thugkitten 🎩 🍖
@thugkitten.eth
Offramping every transaction to a cex in my location requires a declaration of the sender's details which is high friction and frankly iffy as you know you are being watched at all times. I prefer direct adoption of crypto for irl spending at some point that feels like a use case that is still fairly in its infancy.
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