commerce

Base

Two thoughts:

1) These videos are getting better -- @jessepollak street interview game getting stronger (we see you G). It's fun watching "normal" people react to offers of crypto 😆

2) Real talk, I don't understand why crypto is better for IRL small businesses than existing payment rails. Is it mainly the fee structure? 

I've understood financial bundling (https://haseebq.com/crypto-is-financial-unbundling/) to be beneficial for businesses because it reduces risk -- though it can also hurt them via chargebacks

Genuine question and curious to learn from folks who know more about the payments space

credit card processing fees for merchants are ~2.9% + a fixed fee, usually $0.30 or less. debit is much more reasonable with no % fee and only a fixed fee, which is why some merchants are debit/cash only

so even if onchain payments on a cheap L2 like /base aren’t “free” since the merchant needs to off-ramp USDC with a spread of 0.5-1%, this is still a huge improvement for their payment processing

put simply: crypto is a meaningful improvement for merchants vs. legacy systems

figuring out my next thing | marketing, content, growth | prev. Juicebox, Nouns, RAW DAO | casting about coffee, hi-fi, and other rabbit holes

Looking for analytics/gaming/web3 role! Please DC ❤️

I can only understand napkin math so that's perfect for me

thanks for reading! I had a brief stint working in the payment processing industry lol

sorta familiar with this stuff but fair warning that it’s also napkin math