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0 pointsTimJRobinson4y ago0 comments

> Web3 seems to be much more about decentralised payments. Which is not really a problem many people are demanding a highly complex solution for.

Stripe being a $100B company contradicts this.

Payments and especially finance is a gigantic industry that is still mostly centralized but doesn't need to be. If we can make wealth flow as easy as data does today without any gatekeepers or middlemen that is a huge upgrade for the internet.

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JohnHaugeland4y ago· 2 in thread

"Decentralized" doesn't mean "large companies don't exist."

There are hundreds of thousands of banks, but hundreds of crypto exchanges. Imagining crypto to be less centralized than traditional finance is deeply, deeply incorrect.

TimJRobinsonOP4y ago

Having centralized aspects does not diminish the decentralized aspects. People spend over $10M/day in fees to use decentralized platforms and they had $250B in wealth in them.

It's only a matter of time before decentralized rails become the primary form of wealth transfer on the internet, because they are much more efficient and composable than current systems.

JohnHaugeland4y ago

> Having centralized aspects does not diminish the decentralized aspects.

There aren't any. "Decentralized" is just an in-group smurf word with no legitimate technical meaning, and which is not in any way a meaningful goal.

> It's only a matter of time before decentralized rails become the primary form of wealth transfer on the internet

We're 14 years in and it hasn't gotten anywhere close

You keep holding your breath, though. (You'll have to, with all the pollution being created.)

Note: "wealth transfer" is just a fancy way to say "online casino."

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