[toastgrave]

Hasn't that been apparent for years now though? It's a cool idea but really no real use that doesn't boil down to some sort of crime

[wmf]

Maybe there's an alternate timeline where crypto was legalized and regulated into something like fair gambling... but that's not what we're getting. Anyone getting into crypto now is just a sucker to be milked dry.

[daveguy]

Yeah, I don't think the dominos will fall until the next flash crash when people realize it takes $100+ just to withdraw (because 7 transactions per second isn't many). As soon as confidence is lost, the reaction will be full blown tulip market. We just haven't seen the first bank run yet. And there is literally no backstop for a crypto bank run.

[mrb]

It doesn't take $100 to transfer. Fees are currently around $1. You are off by a factor 100!

Also, Bitcoin can process far more than 7 tps through the Lighting network.

I wonder where your misconceptions come from?

[tadfisher]

Oh, there will be runs.

If they remove the guardrails keeping crypto out of the regulated financial industry (read: KYC and AML requirements), your bank deposits will absolutely be comingled with toxic crypto assets, because it will be way cheaper to avoid paying compliance people than the transaction fees.

[snek_case]

Will definitely be entertaining to watch if it happens.