Comment by TechSquidTV
3 days ago
When crypto was genuinely new, and I was young, I had hope that one day we might actually embrace micropayments. Turns out I was not only young, but stupid.
3 days ago
When crypto was genuinely new, and I was young, I had hope that one day we might actually embrace micropayments. Turns out I was not only young, but stupid.
Ignoring the cryptocurrency angle for a second (to avoid distracting knee-jerks)...
Have you thought deeply about why micropayments have not been embraced?
All transactions include several kinds of costs. Reducing the monetary costs to zero does nothing for the other costs.
Enthusiasm for micropayments is very similar to enthusiasm for cutting the price of something from $5.001 to $5.00000001. It's a 0.02% decrease in the price! They make about as much sense as saying "hey, if I can buy 80,000 plastic ninjas for $500, I should also be able to buy one ninja for $0.007".
ads
Yes. And AML/KYC. Advertisements don't bear the burden of AML/KYC, but micropayments do.
AML/KYC costs money, enough to make truly micro micropayments impossible.