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After watching Ozark, I'm actually convinced that software is amazing for money laundering, it's stupid easy to generate huge amounts of fake data. "Look, our
by jbob2000 9y ago
After watching Ozark, I'm actually convinced that software is amazing for money laundering, it's stupid easy to generate huge amounts of fake data.
"Look, our food delivery app delivered 10,000,000 meals and everyone paid by cash!"
"Wow, we rented 10,000 homes through our short term rental app this month and everyone paid by cash!"
"Hey, we have an ATM that lets you convert money into NameCoin, sooo many people are using it, look at all this cash!"
- raverbashing 9y agoFrom a bit of inside info from the aggregator side (think app - but let's keep it generic), there are some fraudulent activity in the 'seller' side and the aggregators pay a lot of attention to it.
- wmf 9y ago"Uber for X" apps generally don't even accept cash; it's credit card or nothing. Building an app that accepts cash would be a red flag in itself.
- hobofan 9y agoNot in Germany (and I think also other european countries). People here love using cash, and so a lot of the startups go with it, or they would lose out on +50% of the market.
- the_stc 9y agoWhy is that a red flag? Uber accepts cash. We are doing an Uber for X and accepting cash, cryptocoin, and limited credit cards (CC companies dislike adult services so it might involve too much cat-and-mouse to be worthwhile). Not accepting cash seems like a the lack of features in an MVP. It's easier to handle CCs, but collecting cash in a sharing-economy situation is more work. It certainly isn't a good thing to not accept cash!