Comments by "Doncarlo" (@doujinflip) on "Why Banks Bet Big on Risky Credit Card Partnerships | WSJ" video.

  1. Network Effect means such a service converges on monopoly, since that's what its users (in this case cardholders) demand.
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  2. That's part of how they're able to fund the more generous benefits compared to equivalent cards outside the US, along with America's higher 2~4% card transaction fees.
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  3. Yet crypto is still stuck with largely criminals, pessimists, and speculators. Businesses instead find card fees equal enough to the labor and security costs of handling physical cash, plus the accuracy and speed of confirmed digital payments with dispute resolution avenues that blockchains are much too slow and scam-prone in comparison.
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