Consumer Crypto

the problem with this is that "paying for my Starbucks" is about as far down the list of consumer pain points as possible

existing payment rails are seamless and have massive momentum

this makes them worth the fees

crypto will get its breakthrough via a use case where there is mass frustration with the UX, not one where we only offer an incremental improvement

and re: the consumer incentives argument here

you can add consumer incentives to get people to use crypto, but you have to ask why the merchants would go through all that trouble

they have tried-and-true payment systems that work flawlessly

and we're asking them to mess with that system for a promise that internet money *might* be taken up by the same number of people using the current rails and that *might* lead to cost savings (what's to say USDC doesn't start charging 5% once they're a monopoly with no competitors like the current payment system)

it's a big gamble which is why I don't think the idea has taken off despite many people trying to pitch it over the last decade

incentivizing things @ poidh.xyz - come chill /poidh + follow @poidhbot

It’s way easier to pay for stuff with my phone and debit card than it is to pay for stuff with my wallet and coins