6 ms·
There are a lot of porn friendly payment systems. The big issue is chargebacks and fraud.
by bproctor 7y ago
There are a lot of porn friendly payment systems. The big issue is chargebacks and fraud.
- mirekrusin 7y agoFraud has completely different profile on cryptocurrency. They would have zero chargeback percentage. Just think about it.
- spookthesunset 7y ago> They would have zero chargeback percentage. Just think about it. LOL. Great for the shady porn site operators but not at all good for the consumer who has no recourse. A lot of those chargebacks are perfectly valid because the site operator is some shady fly-by-night site doing shady stuff.
- jandrese 7y agoOn the plus side, it's not like they can just grab money out of your wallet with Crypto. You have to initiate the transfer. No "typos" when running your card. No double charges. It actually seems like a valid use case for crypto. Downside is the high fees and/or long waits for the coins to clear.
- mirekrusin 7y agoCryptocurrency exchanges seem to be solving those problems. They transact between participants in thousands per second. Bybit has no fees on deposits/withdrawals (withdrawals can be batched to avoid network fees); but network fees are not a disaster - currently network fees are: a) in 1 block 0.27 USD/tx; b) in 6 blocks 0.10 USD/tx.
- jandrese 7y agoThe fundamental problem with those exchanges is that they are sitting on your wallet. So now you're back to all of the problems with traditional banks. If someone wants to double-charge then it's up to the exchange to prevent it, the blockchain itself doesn't come into play. Worse, a great many exchanges in the past (almost all thus far) have proven to be fraudulent, incompetent, or both.
- mirekrusin 7y agoCharge-backs are due to stolen card numbers, right? This problem of selling stolen card numbers doesn't exist with cryptocurrency.