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I'm interested in them from the perspective of eliminating morality police that charge predatory rates to 'risky' sectors of the economy. I see them as providi

by mjevans 10y ago

I'm interested in them from the perspective of eliminating morality police that charge predatory rates to 'risky' sectors of the economy. I see them as providing a more level playing field, though I do feel that competition among escrow providers with clear terms of service for both parties is an element missing from the equation.

pavel_lishin 10y ago
> I'm interested in them from the perspective of eliminating morality police that charge predatory rates to 'risky' sectors of the economy. Can you give some examples? I'm not sure what you mean.
- egypturnash 10y ago
  If you make porn/erotica then a lot of payment processors want nothing to do with you. Same with marijuana. I live in a US state that's legalized it, and every shop requires cash payment because no payment processor will talk to them.
  - Karunamon 10y ago
    As I understand it, that's less about morality and more about fraud risk.
    - conductr 10y ago
      For porn yes, for MJ it's about federal laws and banks wanting to obey them
      - woodman 10y ago
        And the federal laws are a result of the morally driven prohibition movement. They aren't founded on well reasoned logic, just the desire to control others.
        conductr 10y ago
        That becomes pretty circular and more political/philosophical than this conversation needs to be. From a business perspective, online porn is high fraud which makes CC's a difficult thing to underwrite and MJ banking in general is risky because banks need to stay under the government's good graces. This is the business environment regardless of your moral opinion
        woodman 10y ago
        I disagree, pointing to risk management as the root cause makes it circular. I certainly don't expect private enterprise to right the state's wrongs, but I don't think it hurts the conversation to point out the true root cause. It has been my experience that HN welcomes a little more thought beyond the utilitarian argument of what makes the trains run on time.

by mjevans 10y ago

pavel_lishin 10y ago

> I'm interested in them from the perspective of eliminating morality police that charge predatory rates to 'risky' sectors of the economy. Can you give some examples? I'm not sure what you mean.

egypturnash 10y ago
If you make porn/erotica then a lot of payment processors want nothing to do with you. Same with marijuana. I live in a US state that's legalized it, and every shop requires cash payment because no payment processor will talk to them.
- Karunamon 10y ago
  As I understand it, that's less about morality and more about fraud risk.
  - conductr 10y ago
    For porn yes, for MJ it's about federal laws and banks wanting to obey them
    - woodman 10y ago
      And the federal laws are a result of the morally driven prohibition movement. They aren't founded on well reasoned logic, just the desire to control others.
      - conductr 10y ago
        That becomes pretty circular and more political/philosophical than this conversation needs to be. From a business perspective, online porn is high fraud which makes CC's a difficult thing to underwrite and MJ banking in general is risky because banks need to stay under the government's good graces. This is the business environment regardless of your moral opinion
        woodman 10y ago
        I disagree, pointing to risk management as the root cause makes it circular. I certainly don't expect private enterprise to right the state's wrongs, but I don't think it hurts the conversation to point out the true root cause. It has been my experience that HN welcomes a little more thought beyond the utilitarian argument of what makes the trains run on time.