Vitalik Buterin on Warpcast

Dan Romero pfp

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zach roth pfp

what is an actual killer consumer use case for onchain that you think will break into the mainstream/normies for REAL, beyond speculation?

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Dan Romero pfp

Payments and credentials

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Vitalik Buterin pfp

Vitalik Buterin

What is the payments use case where crypto has the strongest durable advantage?

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Dan Romero pfp

I'm a big believer in the @balajis.eth barbell idea: crypto is really good for extremely large and small payments. I think extremely large payments are less frequent, so on total volume / people impacted pov, I would imagine frequent, really small payments is more likely to be something that crypto does well. Also bullish on the idea that AI agents will transact in / prefer crypto.

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casslin.eth pfp

My pov: makes lots sense for 1) cross border payments; 2) programmable payments e.g.@sablier

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Vitalik Buterin pfp

Vitalik Buterin

3) Intra-country payments in cases where the local financial system is too corrupted / collapsed 4) Any payments in cases where either the sender or the recipient is using crypto as SoV, which is something that makes sense to do for a number of reasons (eg. also having to do with limited/unstable banking options)

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Vitalik Buterin pfp

Vitalik Buterin

I suspect (4) is a bigger category than (3). The reason is that to use a network to _send_, it has to work only once, but to use a network to _hold_, you have to be confident that it will keep working for a very long time.

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casslin.eth pfp

for 4) actually related to 3), due to that, in many cases, find out having usdc/usdt/eth in a wallet, not for speculation, but for actually paying internationally, is very convenient, so will hold more in the wallet as a result, which in turn feels like using crypto as SoV but the two scenarios are intertwined: more use case it has, more SoV ppl perceives.

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casslin.eth pfp

4) if use a s.g. $ denominated credit card/debit card, and when u do international travel, where u have to settle in local currency or $, card issuer charges u a dcc fee, on top of very bad conversion rate, which is 1% of tx amount, quickly adds up if do global travel quite often: https://www.forbes.com/advisor/credit-cards/dynamic-currency-conversion/#:~:text=Currency%20conversion%20fees%20are%20typically,rate%20and%20any%20additional%20fees.

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casslin.eth pfp

for 3), my experience, not only when the local financial system is corrupted/collapsed, even w/ S.G. as example, w/ a healthy & good local financial system & strong currency (relatively), paying globally is painful coz: 1) most places prefer to receive $ instead of their own local currency, even some s.g. local co.s; 2) if u pay a counter party $, even if both of u have s.g. bank account which can hold $, it's still an "international transfer" so to speak and u have to pay swift fees and wait slower transfer time; 3) if u pay some one outside of s.g. in $ , even worse, and w/ uncertainty as to wire time and if bank will return the transfer, money will just be in the air, untraceable for 7-10 days ;

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