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The linked text mentions that even Coinbase dropped Fetlife, because they (Coinbase) still processes credit card transactions. So it looks like any use of a cr

by noarchy 10y ago

The linked text mentions that even Coinbase dropped Fetlife, because they (Coinbase) still processes credit card transactions. So it looks like any use of a cryptocurrency has to be completely decoupled from the credit card world.

Senji 10y ago
Step one: Start a political party Step two: Get in power Step three: Make refusing credit transactions to patrons on grounds of "morality" illegal.
- FussyZeus 10y ago
  What exactly is the difference between enforcing morality with law and enforcing no morality with law? Morality is an incredibly subjective thing between differing cultures, I don't think it has a place in the justice/civil law systems.
  - Senji 10y ago
    You don't have to write the word "morality" in the law itself. Just make it so they can't deny service to anyone ever.
- nerfhammer 10y ago
  > Start a political party > Get in power Almost impossible in a FPTP voting system
  - robhu 10y ago
    Surely it is possible and only requires a majority to support you.
  - Senji 10y ago
    You can take over an established party, eg: alt-right and the mainstream conservative right.
protomyth 10y ago
The interface between me receiving cryptocurrency and me paying bills and food with said cryptocurrency is problematic. I get the feeling we are stuck in a credit card world. I cannot imagine a big payment outfit that gets accepted by merchants to not have credit card companies or deal with merchants without bank accounts. This is really one of those issues that cuts across party (in the US 2 party system) lines. We've seen the crackdown on gun shops, marijuana merchants, and adult industry companies. I don't think I've heard questions asked my the big media to candidates about their feelings toward these type of laws. I might not like some of these businesses, but every legal business should be able to get paid. I am not comfortable with a politician's beliefs affecting the banking of a legal business. Normally, I would like the market to handle this but as the article points out, this is not really a free market. "The banks maintain a shared list that contains all merchant account closings." makes sense from a fraud point of view, but it is a process without appeal. Second, banks have a history of legislation requiring fairness of lending. It is probably time to look at the credit card companies with the same eye.
- LyndsySimon 10y ago
  > We've seen the crackdown on gun shops The issue with firearms sales seems to be at the payment processor level, not the credit card issuers. The big names (e.g., Authorize.net) categorize firearms sales as "highly regulated industries" - even though they really aren't. There are payment processors out there that specifically work with FFLs (Federal Firearms Licensees, a/k/a gun stores), but they charge a couple of percent higher transaction fees, and they just seem a little skeezy. A lot of them also service the adult industry.
  - protomyth 10y ago
    The DoJ was going after gun shop merchant accounts also. Gun shops or Fetish sites should be just as protected as any other legal business.

by noarchy 10y ago

Senji 10y ago

Step one: Start a political party Step two: Get in power Step three: Make refusing credit transactions to patrons on grounds of "morality" illegal.

FussyZeus 10y ago
What exactly is the difference between enforcing morality with law and enforcing no morality with law? Morality is an incredibly subjective thing between differing cultures, I don't think it has a place in the justice/civil law systems.
- Senji 10y ago
  You don't have to write the word "morality" in the law itself. Just make it so they can't deny service to anyone ever.
nerfhammer 10y ago
> Start a political party > Get in power Almost impossible in a FPTP voting system
- robhu 10y ago
  Surely it is possible and only requires a majority to support you.
- Senji 10y ago
  You can take over an established party, eg: alt-right and the mainstream conservative right.

protomyth 10y ago

The interface between me receiving cryptocurrency and me paying bills and food with said cryptocurrency is problematic. I get the feeling we are stuck in a credit card world. I cannot imagine a big payment outfit that gets accepted by merchants to not have credit card companies or deal with merchants without bank accounts. This is really one of those issues that cuts across party (in the US 2 party system) lines. We've seen the crackdown on gun shops, marijuana merchants, and adult industry companies. I don't think I've heard questions asked my the big media to candidates about their feelings toward these type of laws. I might not like some of these businesses, but every legal business should be able to get paid. I am not comfortable with a politician's beliefs affecting the banking of a legal business. Normally, I would like the market to handle this but as the article points out, this is not really a free market. "The banks maintain a shared list that contains all merchant account closings." makes sense from a fraud point of view, but it is a process without appeal. Second, banks have a history of legislation requiring fairness of lending. It is probably time to look at the credit card companies with the same eye.

LyndsySimon 10y ago
> We've seen the crackdown on gun shops The issue with firearms sales seems to be at the payment processor level, not the credit card issuers. The big names (e.g., Authorize.net) categorize firearms sales as "highly regulated industries" - even though they really aren't. There are payment processors out there that specifically work with FFLs (Federal Firearms Licensees, a/k/a gun stores), but they charge a couple of percent higher transaction fees, and they just seem a little skeezy. A lot of them also service the adult industry.
- protomyth 10y ago
  The DoJ was going after gun shop merchant accounts also. Gun shops or Fetish sites should be just as protected as any other legal business.