[EGreg]

Why can’t crypto be like that?

Centralized Social networks like Faceboon and WhatsApp can roll out a payment system nearly overnight and have it accepted at millions of merchants. Crypto after 10 years is hardly accepted anywhere…

[jjulius]

Facebook Pay is just a payment system that was established within the confines and regulations of an existing monetary system.

"Crypto" is not that.

[EGreg]

"just"?

When people start keeping their balances INSIDE the system, it becomes its own currency. Like when people pay with PayPal without cashing out.

They can print more of it internally, and you wouldn't know. They can have fractional reserves, etc.

WhatsApp and Facebook have huge adoption. By contrast, after 10 years, crypto is nowhere near being a "peer to peer cash system".

[wraptile]

yet.

[jjulius]

Okay?