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comment by mk
mk  ·  3558 days ago  ·  link  ·    ·  parent  ·  post: The Advent of Cryptocurrencies: A Reason to Rethink Currency in the 21st Century

When creating my tabletop RPG book, a few artists that I commissioned requested that I pay them with personal check rather than PayPal since PP takes such a significant cut. Rather than signing a piece of paper and sending it to them in the mail, I could pay them with BTC for almost no cost, and they could feel free to spend it within 10 minutes.

There are many scenarios where the blockchain wins over clearing houses that siphon off each transaction.





thenewgreen  ·  3558 days ago  ·  link  ·  

That is a good example. PayPal is notorious for holding funds too. If they find anything suspicious about the transaction they can hold the funds in limbo for a seemingly indeterminable amount of time. Even if they find nothing wrong at all they will hold funds for 3-5 days or longer. Think of the amount of interest they earn by floating those funds. It seems insignificant given the $100 you paid the artist, but when you figure there were 500,000 other $100 transactions made that day, the float becomes extremely significant. The amount of hands that touch money between sender and receiver and make money off of the transaction is silly. It will change.

user-inactivated  ·  3558 days ago  ·  link  ·  

Woah, you're doing a tabletop RPG book??

mk  ·  3558 days ago  ·  link  ·  

I am Jimmy Swill.

Mongoose stopped carrying us after selling out the first dead tree run (they are still charging too much for our PDF), and I am working on a new print version that will put everything into one ridiculously large book. I'll post about it when I get there.

If you want a PDF, send me a PM.

Here's the post I made when Mongoose picked us up.