Comment by thesandlord

4 years ago

> Websites that integrate web3 wallet login do get something new: built-in, straightforward payment rails.

Is this really any better than Apple/Google pay? Those are already set up, trustworthy, I don't need to convert my fiat into a cryptocurrency than can swing in value wildly, and it's super easy to set up with stripe or any of the other platforms that the website is probably already using.

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thesandlord

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kenjackson  4 years ago

I'm not very knowledgeable about Web3, but what you point out, I also find confusing. Why do I need to use ETH to buy an NFT -- my credit card should just do fine -- shouldn't it?

Clicking the "Connect My Wallet" button is kind of fun. But I feel like I've gained nothing over just using my credit card -- in fact my credit card provides me (as the consumer) tons more benefit than using ETH -- and don't get me started on gas fees!

  • jmoreno94  4 years ago

    There's work happening now to make this a reality by partnering with on-ramps and off-ramps to go from fiat to crypto.

    One can imagine a world in which this is completely transparent to the end user.

    High ETH gas fees are also being solved by Layer 2 solutions which get fees down to cents by either batching transactions or doing the work off the main chain and posting only the proofs to the main ETH chain. Checkout zero knowledge rollups, aka zk-rollups.

andreilys  4 years ago

What happens if Visa/Mastercard decides to block the merchant you want to use? Or you yourself are a merchant that gets hit with high fees simply because you're in a business that is deemed "high-risk"