Fine for small value transactions. Let’s here what Peter Thiel has to say:

To get people start doing something (new) like that (the requirement is):

  1. it has to be something where there’s an intense need and
  2. an instance where it’s not too dangerous

A natural place to start was on the eBay auction site where (there was):

  1. small dollar transactions maybe $40 was the typical amount and
  2. if you send check across the country that’s like a 7 to 10 day delay. This delay was because most people couldn’t process credit cards but you could make PayPal payments with a credit card.

Oh wow look at that, Peter seems to make distinctions as to the size of payments on a payment network that make rational common sense.

If PayPal somehow disappears your $40 then its going to suck but not enough that you need to go to a court and whine about it.

Vlad… when you talk about governance in posts like this I’m dumbfounded. Yeah we’ve got to maintain consensus, I get it. Its not easy getting everyone to agree.

But what good is perfect consensus if I can’t use Ethereum as a payment network? I mean seriously… have you ever considered that Ethereum is a payment network for people who want to use it to make new and different types of payments?

So don’t use Szabo’s law for big sums and I think everything will be ok.

Written by

Incentives architect for TandaPay

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