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The fact that OF is not all in on crypto payments is a massive indictment of crypto as a payment mechanism.
by rejectedandsad 5y ago
The fact that OF is not all in on crypto payments is a massive indictment of crypto as a payment mechanism.
- serverholic 5y agoOr that crypto is only 12 years old which is really fucking young for a currency.
- dmitriid 5y agoOr that just the transfer fees would be more than most payments. Or that no one would be able to properly use those payouts.
- AzzieElbab 5y agoNothing is on crypto payments because you never know how you are actually paying
- T0Bi 5y agoThere are stable coins as well, where you know exactly what you're paying.
- mortehu 5y agoThat's not young at all. How much trouble did people have accepting Euro in 2011?
- toast0 5y agoA government mandate certainly helps a currency develop.
- BoxOfRain 5y agoArguably scepticism towards the Euro as a currency and Britain wanting nothing to do with it after the crisis was a key pillar of Brexit, so I wouldn’t say it went down amazingly. I remember during the campaign there was a fairly widespread notion that an overly Europhile government like Tony Blair’s might irreversibly commit the UK to the Eurozone, which was always an act that polled terribly.
- qwytw 5y agoidk... the Euro was introduced in 1998/1999 I heard it was already pretty huge a couple of years later.
- serverholic 5y agoYou're comparing a government mandated currency change vs grassroots currency.
- agumonkey 5y agoI'm still surprised nobody tried to bridge the two .. it seems like the most obvious of shark fad business move
- Goronmon 5y agoI assume because as soon as you become the "place where people get crypto for adult content" then the same issues that OF is running into now become your issues as well. Unless people are getting paid directly in crypto, they are purchasing it from somewhere, and wherever that entry point is will have this problem.
- vesinisa 5y agoYes, already now buying cryptos is ridiculously difficult. Any reputable operator requires KYC, which is a similar process to opening a bank account including submitting a photo ID. That's a pretty good deterrent for the random Joe against signing up on a porn site even if it's all legal. While cryptos in of themselves are decentralized and inherently unregulatable, people forget that the interface with the real financial world is very much vulnerable.
- teh_infallible 5y agoTrue, but there are services like Purse.io which let you order on Amazon and pay with crypto. So theoretically, you could have your fans pay you in crypto, and you could convert that to whatever goods you want. It might not work as your only income, but could be a valuable way to supplement it.
- smt88 5y agoEven if OF could accept crypto, they'd still need an off-ramp back into fiat. They can't operate only on crypto, even just stablecoins, which is itself the indictment of crypto.
- Tenoke 5y agoThere's plenty of services for that - e.g. Coinbase has an enterprise one for that use case.
- arebop 5y agonope, not for adult content/services https://commerce.coinbase.com/legal/terms-of-service-2021-08/ https://commerce.coinbase.com/legal/terms-of-service-2021-08...
- Tenoke 5y agoOkay, that seems much worse than OF since there's no chargebacks or anyone over them for it to be an issue.
- tommymachine 5y agoIt's not about chargebacks its about sex trafficking liability
- flatline 5y agoBut if coinbase doesn’t want to be associated with OF, they no longer have that avenue.
- smt88 5y agoThey need a bank no matter what. They can't do payroll in stablecoins.
- anonu 5y agoAh.. DeFi only exists because of CeFi.
- deleted 5y ago[deleted]
- zz865 5y agoIt also highlights the lack of anonymity with crypto - everyone gets to see what you spend money on.
- young_unixer 5y agoNot if you use Monero. https://www.getmonero.org/get-started/what-is-monero/ https://www.getmonero.org/get-started/what-is-monero/
- teh_infallible 5y agoI love Monero, but I think it is more intimidating for no-coiners than bitcoin. You can’t buy it on Coinbase or many other exchanges, and the wallets are not as polished as the btc wallets I have used. So if you’re trying to get your fans to pay you in XMR, you would be creating a lot of friction for them.
- cody8295 5y agoWith most crypto, yeah. Monero happens to be private and anonymous.
- Tenoke 5y agoThis is a massive exaggeration. I've spent a fair amount of crypto without trying to hide it, please tell me what on. Maybe the state can find my addresses with a bit more effort than they can find my CC purchases but random people or friends and family not so much unless I want them to.
- zz865 5y ago> random people or friends and family not so much unless I want them to What I mean is if you ever send F&F money they'll see all your previous purchases too, and if OF is a well known wallet its easy for them to see that detail.
- hackinthebochs 5y ago
- young_unixer 5y agoHuh? Many services on the Internet accept crypto, Namecheap is a good example.
- digianarchist 5y agoAlongside credit cards not in lieu of them.
- fennecfoxen 5y agoIt might be easier to operate a dodgy site off of USPS money orders than it would be off of cryptocurrency.