4 ms·
This is good news for cryptocurrencies. Mastercard/VISA offer no value in 2020 and are an anachronism to an era that no longer exists.
by admiralspoo 6y ago
This is good news for cryptocurrencies. Mastercard/VISA offer no value in 2020 and are an anachronism to an era that no longer exists.
- BitwiseFool 6y agoThe same pearl clutching about making payments to site hosting "unlawful content" will apply to cryptocurrencies as well. Sadly, there are already efforts to track crypto payments and regulate the crypto ecosystem.
- crispyporkbites 6y agoHow do you block/censor a Bitcoin transaction to a porn site? Perhaps if the sending address has been linked to an IRL identity you could prosecute. But then you could just use Monero or other anonymous currencies instead.
- BitwiseFool 6y agoMy understanding is that the US government cannot realistically regulate the Bitcoin protocol, but it can regulate it's own citizens use of it. It wouldn't be materially difficult to pass a law stating that all bitcoin transactions made by citizens and businesses subject to US jurisdiction must be registered. While they would not be able to block the transaction, they can go after anyone who made the transaction.
- smt88 6y agoWhen I buy things with my Visa and accidentally break them, Visa buys me a new one. When a business screws me over, Visa takes my payment back. You can argue that the core activity of processing payments is a commodity (and it isn't, because building a merchant network as big as Visa's is incredibly difficult), but you can't argue that they don't add any value on top of that.