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0 pointsNicoJuicy4y ago0 comments

Let's simplify it, to explain what "not doable in practice means":

On a normal site, how many % of visitors do you think will/can pay with USDC on stellar?

The example purchase is a computer screen worth 250$, found on a new e-commerce shop ( = you didn't have any purchases yet there)

Note: Most people don't have crypto.

So some basis for estimates:

Let's say that 16 % of Americans have ever bought crypto. Let's be positive and say that halve of them are willing to use it for a purchase instead of considering it as an investment. So 8% - https://www.pewresearch.org/fact-tank/2021/11/11/16-of-ameri... .

Spread of the holdings are taken from an article:

> And it’s true that it is by far the most popular cryptocurrency with 66.7% of crypto investors owning Bitcoin. However, other crypto currencies are catching up with 28.6% of crypto investors holding the popular “memecoin” Dogecoin and 23.9% of investors holding Ethereum.

https://www.finder.com/how-many-people-own-cryptocurrency

A raw guess is fine ofc.

My guess: 0.001% of visitors. I'll explain why after your guess.

( It's possible that i missed something. I don't do these guesses often and I'm not exactly sure how many of those can pay with USDC on stellar even, but that shouldn't matter for the estimate)

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3 comments · 1 top-level

rvz4y ago· 2 in thread

You already explained about what you 'really' meant by 'That's not doable in practise'. No need to change it again or repeat yourself before I commented. Let me remind you before you forget again:

   - You would immediately take a hit, because crypto payments are not popular.

   - Currency/btc conversion fees are more expensive than any transaction fee.

   Many ecoms added support in 2017 and removed that functionality again.

   There's no interest for buying things that isn't part of the "pump and dump" scheme. NFT's are probably the only thing, since they hope to resell it for more money.

You did not say 'solely' until I commented, did you? Even after that, I gave examples of crypto-only businesses. Once again, you attempted to change and shift the goal-posts because you knew those examples were true.

Throughout this whole thread. You are saying to everyone here, I cannot open a Shopify / WooCommerce account right now and accept USDC on whatever cryptocurrency like Stellar and accept payments, worldwide and not just in the US or with Bitcoin which your entire comment(s) are assuming.

Have I just proven and caught you changing your complaints once again about 'what you really meant' in [0], since you knew how incorrect you were, rushing to comment and still avoiding all of my questions?

It is evident that you are finding it harder and harder to cope and ignore cryptocurrencies in general and have to resort to changing definitions, meanings, etc to continue to hold up your complaints.

[0] https://news.ycombinator.com/item?id=29735980

NicoJuicyOP4y ago

Solely is because the op wants lower transactions. Giving an answer that would be applicable for 0,01% or less of the cases is just a useless answer.

The OP is not a crypto only business.

You're examples are similar to crypto investments, which is almost the only thing people would spend their crypto on.

It's not shifting when showing that you're answer would not even be applicable to 0,1% of his customers.

It's actually showing that your answer was useless in the first place.

You think/suggest 'USDC on stellar' even matters, i don't. They all have the same fundamental mistakes.

And it's not solely:

> high transaction fees, unstable price fluctuations and slow transfers

But please give me a realistic estimate for how many people your answer would be useful for the op.

rvz4y ago

Just a reminder in case you have forgotten what the OP said:

   >> Say you’re running an online store, selling something digital or physical.

   >> Is it practical to completely avoid the fees of payment processing companies like Stripe?

You:

   > You're examples are similar to crypto investments, which is almost the only thing people would spend their crypto on.

And how does that not count? Because you think it is for 'crypto investments', which you don't like? So..

..buying a blockchain domain name on OpenSea, Rarible for low fees is 'not practical' then? So I can't make my own marketplace using Shopify's NFT store then? Nor does any of that qualify as 'selling something digital' either in regards to the OP.

So Shopify is not 'e-commerce' because they allow you do sell NFTs?

So buying limited edition NFT shoes from an online store doesn't count either and they are not 'products'? [0]

Given that, is that why you knowingly edited and deleted your comment about the extremely narrow existence of an popular e-commerce business that solely accepts cryptocurrencies for physical products except for the dark web to make a fallacious point that cryptocurrencies are not ever 'practical' for avoiding 'expensive transaction fees' because 'ecoms added support and removed that functionality again' and that means 'There's no interest for buying things' using cryptocurrencies?

At the end of this day, week, month and year, these companies have still have not given up on it, Stripe included. Maybe you should desperately ask how OpenSea, Rarible, Shopify, Circle.com etc are still able to do this, since you are having a very difficult time in ignoring it whenever another user asks a crypto-related question on Ask HN.

[0] https://rtfkt.com/home

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