[elietoubi]

Full disclosure: I work in the payment space. -> I really wish that they used crypto for this type of things. Crypto has some pretty massive advantages. 1) No cc fees if you have a wallet. 2) No risk of censorship 3) support in any country.

[mrtksn]

It’s also very hard to use, mistakes are permanent and a lot if not most people never hold any crypto outside of the exchanges.

Transfers are also slow and too expensive for small amounts.

Moving funds costs about 20$ at the moment for BTC.

[alwillis]

Sending bitcoin over the lightning network is instant and cost fractions of pennies.

Sphinx Chat and Breez (a bitcoin wallet) already support streaming sats to podcasters in realtime: https://medium.com/breez-technology/podcasts-on-breez-stream...

[alwillis]

Checking https://mempool.space, a low-priority transaction is about $5.99. That could be $50 worth of bitcoin or $500,000 worth of bitcoin to another bitcoin address anywhere in the world, with zero counterparty risk or middlemen.

Of course, using lightning, the payment is instant and cost fractions of a penny.

[mrtksn]

That's a lot of effort to increase your risk of not having a trusted middleman and pay more fees.

WIth regular systems you have a Bank, a payment processor and a sale processor which collectively provide the following experience:

1) transaction fees at the range of 0.1$ and up at %1-%3 that is incorporated in the price. 2) Visa/MasterCard etc, you don't have to choose your merchant depending on your coins you have, it works everywhere globally 3) Fraud protection is included, if something doesn't work out as expected or you simply made a mistake you get your money back easily 4) payment takes about 1 to 5 seconds and usually is hassle free, like tap a botton to start the payment tap once more to confirm the payment. 5) funds security is guaranteed through reversibility and active security, no risk of going broke when trying to listen to a conversation online.

[elietoubi]

Crytpo <> Bitcoin. You can get pretty cheap transactions on other network. Research Layer 2 Ethereum or blockchain like stellar are great for micro payments

[mrtksn]

Other networks are irrelevant if my funds are not in that network or the merchant is not on that network. Moving funds between networks tend to be expensive and inconvenient as you need to go through an exchange.

[btmiller]

Full disclosure: I’m being pedantic. Are you suggesting Clubhouse doesn’t use cryptography?

More seriously: cryptocurrencies don’t need to be shoved into everything, and I’d like if HN cryptocurrency warriors would stop assuming that it’s the ultimate and stable solution for all payment problems today.

[elietoubi]

touché ;) Not really a crypto warrior but I think it makes a lot of sense for mass payments. I used to lead one of the payment team at Uber ... turns out sending money to people all over the world is a pretty hard problem in the traditional finance space.