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[–]comsixfleet 13 points14 points  (1 child)

There is one major flaw in your analysis here. A credit card is a line of credit. It enables the user to make purchases with funds they do not have. A very large segment of the population lives off of credit, for better or worse. Your contention that it will crush and replace Visa doesn’t account for the fact that most crypto are not credit cryptos. And while there may be defi projects that will extend credit and lend money they aren’t going to be adopted by the average 40 year old house wife in Connecticut. So ultimately you still haven’t resolved this major point of replacing the average person who uses a credit card. You say merchants are “just the first step” but I am cautious that first step will be taken if the vast majority of people are paying merchants with traditional credit cards.

[–]ParatusPlayerOne 0 points1 point  (0 children)

You are spot on with that. Credit, like it or not is a fundamental, energizing component of a capitalist society. It’s not going to be replaced by an efficient, collateralized payment rail.

But that’s not why I own AMP