Seems like enormous scams are possible with this. The sheer volume of wallet drains will be unprecedented without some form of checking links for legitimacy. I would never use this until allllllllllllll the kinks were worked out
If to only interact with official/verified accounts or stores its really just like any other payment page that you would normally click on, but quicker
Bye Bye to those rip off "international transaction fee" that most credit card providers charge if you buy something outside your own country. That 3% the banks charge for this rip off fee needs to disappear and Blinks is going to do this. Its not the only thing its going to disrupt. Thanks for the video James
James how do you see blinks affecting media industries like music where artists have been dissatisfied with streaming revenue for yrs now. This in my view presents a direct to customer avenue again that could affect a revolt against the extortionate streaming giants. If I'm a musician or indie film maker I'd be looking at this very seriously.
@@InvestAnswers James, can you elaborate? How does a user make a purchase without anything in their wallet?. I’m a supporter of yours, so I’m not trying to be negative. I’m just seeing how this works without the friction of creating a wallet and putting something in that wallet.
I actually a new to the crypto market. and with in 3 months I accused all the you tubers all of them asking for subscribe like . They provide lies and bulshit. yet I found this interesting with logica. Keep it up great job gentlemen 💯.
Hey James - Love your channel! How do you think Blinks compares to what Elon wants to do for payments through X? Does Blinks take the air out of Elon's strategy?
None of these crypto payment rails are practical. Everyone I use blinks it creates a taxable event. A real PITA. The effort to track that cancels out blinks’ ease.
The only problem i can think of is the fact that, if the bull market ends in 2 years, there wont be much room for mass adoption. but if this was a super cycle run, then, maybe this would lead to some cataclysmic gains if retail were trading on sol then buying memes with it.
What about regulations?😅 I agree with everything you say but i think it's going to be a little bumpy ride to mass adoption. If it's just for micro payments than it can be fast and furious 🔥🦄
The largest concern for any vendor is what happens when the vendor sends a product and the customer claims they didn't get it, didn't get the right one, it was broken, etc. There has to be some mediator to decide what happens with the transaction. This is one reason for high fees. There is a frequent need for intermediaries to spend time reviewing disputes. If Blinks doesn't address that, then it will go no where.
Big problem in the Rolex example: if buyer receives the watch then disputes the sale for whatever reason, his money held in escrow is indefinitely tied up and he’s out the cost of the watch - which is no big deal since he has the watch in hand. Seller on the other hand is out BOTH the watch AND the money - lose lose for the seller! Curious to know how Blink will go about solving this situation.
I agree, as a seller, id not be happy transacting this way under its current format , a team of humans will still be required to deal with disputes , not everyone is honest, far from it
As an eBay seller the two problems I see are No1: Trust as a seller, you could easily be out the item sent, and the money. No2: Getting enough traffic to your retail store/platform, whatever that may be, for people to buy your item. A Blink Store of some kind perhaps?
You guys want crypto adoption and at the same time worried about scammers? It is a technology and it can be used for good and bad. It should be user’s responsibility to check the legitimacy of any link that they click
Ivan explained it this morning and he said that it would only work on a desktop, not mobile and that you have to have a Phantom wallet. It workes like an extension.
@@copycatt2579 you the same with your bank card or PayPal.. you need to open account.. and what are you to lazy.. your problem.. then you will just not have it.. i rather use my own wallet that banks.. they are not safe and money in your bank is not your money
I like the sol blink feature it's definitely disruptive but PayPal and eBay have a strict quality assurance team that protects customer and seller if anything goes wrong . That can still force people to choose traditional market place issuers over blink for now, interested in seeing how this new technology progresses !
If it's a problem for taxation...maybe the laws will change over time. Governments can print their own money or invest in BTC miners for an income. Don't need you're Sol anymore.😂😂😂
@@InvestAnswers I’m sure you know the right people James. Guarantee all western democracies have been rigged. I’m in Canada and there is no way Trudeau was voted in after his first term. He also gave Canadian taxpayer money to the Clinton foundation right after being elected.
Imagine if robocabs use this as payment. The world is gonna become much more efficient. More time with family and doing things you love. Go SOL, go TSLA, go James!
I think ppl go to a centralized marketplace and use credit cards to prevent scams though. Like if Amazon sells a fake or defective product I can complain and get a refund. If they don’t do it then Amex card I paid with can chargeback so I have that insurance.
They will have same assurance duh this guy is stuiped no refund will result in a bad review for that guy and boom out of bussiness dam near same thing@InvestAnswers
Hi James , long time watcher and follower of the channel here. I want to make a RU-vid channel with the best bits of your show, is this allowed ? If not I won't do it , but I thought I just ask. Thank you for all you do 😎 Greetz from the Netherlands
The PTP smart contract application on Blinks Sounds great, but what happens if I send Darrell my Rolex and he says he never received it even though he did. I have no money but he has my Rolex. I love the concept but I as the seller still seems like I’m assuming the risk factor.. I’d have to research this further for major sells. Great content as usual. Thanks
Thanks for the great news. Why? As Psychologist and 'Start Up' specialist I am preparing a low cost web service to master stress and increase income. Low fees conflict with expensive Payment gateways. That seems to be a resolved now. 👍👍👍
Great video! Thank you James :) I wonder... What are the tax implications of paying directly with SOL (say if you bought your SOL at 80$ and it's worth 300$ at the moment of use via Blink)
I might move all my eBay items to FB Marketplace or X. Why pay 15% selling fees? PLUS I get to stack SOL which will GAIN value instead of collecting fiat which loses value! 😊😊
Bitcoin is going to the moon, ETH is going to the moon, Solana is going to the moon...yawn, yawn, yawn...The only thing that matters is buying a crystal ball that works (sarc), or entering a wormhole and going back to 2009 when the first Bitcoin sold for $0.00099.
Who in the HELL would buy an expensive NFT like mad lads or monkeys etc. seems to stupid to me. I want art I buy it physically and enjoy in the real world🖼️ (or make my own in my case). But great show as usual James cheers 🍻
This is an exciting development and will bring about the future of micro-payments. That's great, but the issue I kept thinking about is newbies have to adopt Sol first. Easy for us Sol maxis but the average person will still have a barrier to begin using Blinks. Most ppl I know have never heard of Solana so I doubt they will be impressed until they receive the crypto mind-meld.
It's amazing but we need a non volatile token that is locked to a commodity or like and not wildly moving tokens, like SOL atm. The method is great, and have runway to go.. Amazon, can't sell low margin for swinging cash/token value
It is a great step forward but ... people still need an easy way to get USDC into their wallet. And that's the real pain point today. Convert your paycheck into USDC without all the KYC dance
I dont get it, isn't this just standard web3 stuff? How is this any different than all the exising defi/web3 stuff? How this any better than lightening on BTC? You still need a wallet setup.
Chat is so funny...youve got the best engineers working on this stuff for time..but chat heard about it 2 mins ago and they have the reasons why its a useless product and wont work...and are able to somehow know that the enginners havent built in safety measures around scammers. Again ETH maxis are getting real touchcy this week, they going to hate it that we have more launches this week but the big one is next week😮😮😮😢😢😢😢
Won't this get easily hijacked by phishing scams? Also, if you're going to use it to sell as a shop, then you need the ability to produce receipts, etc.
