Erik
@eriks
gm fc ☕️ i asked gpt how much of a cut the middle men took on my gas station coffee this am not for long 😏
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Sam
@samhorine
Not to be a negative Nancy but you’ll still pay one way or another / say Apple Pay processing fees go away, they’ll just raise the price of the phone by $100 to make up for the lost revenue. Its like how there’s no income tax in WA and on paper it sounds like a great deal and then you realize you pay 20% tax on a beer to make up for it
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Erik
@eriks
yep definitely not getting out of apple unless new physical infra comes out, but the credit card and bank ones making up the biggest part will be avoidable
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Sam
@samhorine
The real problem is the customer wants convenience and doesn’t care about the merchant. You could instantly kill all those fees but switching to cash or a debit card
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Erik
@eriks
agree, plus consumer benefits for credit card so to compete, usdc on base would need 1. yield for simply holding it that competes w credit card benefits, 2. tap to pay the merchant obv has incentive so in the future they theoretically could offer a lesser price for usdc just like they do for cash
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Sam
@samhorine
True - lots of competing incentives with points and miles as well - will be interesting to see how it unfolds - perhaps it’s the CEX that try and capture that market share but we all know how hard imbedded institutions will fight to keep their profits- we’ve been seeing it for 15 years
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