This whole payment crackdown situation seems like one of the actually valid uses of crypto.
It extremely is, unfortunately the whole space is still unregulated and 99.9% of coins are just vehicles for speculation and serve no real use as a financial product due to transaction speeds and fees.
Ok, but who cares about the 99.9% of coins… If you’re buying something, use Bitcoin.
Sure but I’ve bought things where the site used a credit card crypto system where you bought some crypto that got immediately paid to the site. Sure it’s a shifty middle man situation but adding crypto address to steam payments could be a way to get around credit cards. Ie you can only buy Tentacle Demon Titty Twisters with Solana or whatever.
True, the best bet currently would be to stick to a ‘stable coin’ to avoid the drastic price fluctuations - but even having to deal with that will largely be a bridge too far for most would-be customers, I fear.
Even getting stable coins is an annoying process for the average person since either they take on large fees to get it, or have to get verified taking pics of themselves and give their ID to try to get into an exchange with lower fees.
Just an overall annoyance. And number of people willing to do that is so small compared to a majority of consumers which is what gives payment processors such influence.
It’s like trying to convince people to use fediverse alternatives over mainstream social media.
And biggest move payment processors have is pulling out completely if alternative payment methods they don’t like are added, which would pretty much lose all the consumers that matter financially.
Most realistic solution is likely Europe coming up with their own mainstream alternative to visa and mastercard than crypto to serve as an actual viable alternative with financial institution backing.
100% in agreement; those are the factors that I was alluding to when I said it would be too much for end users to deal with…
…and that’s all before we even begin to take into consideration regional pricing!
