Why Can’t Crypto Seize the Payments World? The Bitter Truth Unveiled!

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Why Can’t Crypto Seize the Payments World? The Bitter Truth Unveiled!

Wei Dai, that venerable sage of the cryptoverse who breathes life into the ghost of b-money, has taken up his quill once more to lament the tragic comedy that is crypto adoption in payments. Even amidst the chaos of fiat’s dull dominion, crypto’s timid whisper remains unheard, overshadowed by banks’ iron fists and credit card’s endless fees. Ah, the irony! The pioneers’ dreams fade like a scoffing courtesan’s smile, and we are left pondering: why, oh why, does crypto not conquer the realm of retail payments? 🎭

B-Money Pioneer Wei Dai Laments the Hypocrisy of Crypto’s Powerlessness

In the grand arena of retail payments, where every transaction should be a revolution, the brave dreams of crypto remain as empty as a politician’s promise. Dai, who conjured b-money—a spectral precursor more romantic than Bitcoin itself—utters his dissatisfaction, his voice tinged with the sarcasm of a jaded writer.

On the mystical platform of social media, he declared:

It’s wild that merchants are still paying ~2-3% from each sale to banks & credit card companies. How come crypto has not won yet in C2B payments? Or are we waiting for unicorns and rainbows? 🦄🌈

He then waxes poetic about the mysterious ingredients needed for the crypto fairy tale to come true: token incentives, payment apps that work more smoothly than a well-oiled machine, boring yet necessary account statements, the on-ramp to the traditional financial swamp, and stablecoins with yield—because who doesn’t like earning a little while waiting forever? 💤

Meanwhile, for the noble businessmen, Dai suggests they wave their magic wands: point-of-sale devices on phones and iPads, stablecoin accounts that make them yawn with profit, and the elusive off-ramps back into the bank dens of iniquity.

“Banks & credit card companies kicked this off in the 60s & 70s—why can’t crypto wizards do the same today?” he jeered, as the curtain falls on another failed performance.

Many of Dai’s gloomy prophecies could be thwarted by simply issuing clear, sensible regulations for stablecoins—an idea currently dancing in Congress, led by the venerable senator Bill Hagerty, who wishes to turn this chaos into “Genius.” Whether the Senate will grant this boon remains a theatrical question.

Yet, the wise social media skeptics remind us: stablecoins are just shiny toys—they do not fix the immortal dilemma of credit, the very soul of fiat’s empire.

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2025-05-19 14:00