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"Stripe for vice business" wouldn't work because the payment processors are still beholden to VISA and MasterCard. This company would also have to create a whol

"Stripe for vice business" wouldn't work because the payment processors are still beholden to VISA and MasterCard. This company would also have to create a whole new credit card in which majority of people are using.

alasdair_ 5y ago
You'd probably need to create a network of people that accepted physical cash and gave you crypto in return, sort of like localbitcoins. I guess you could buy a chain of Bureau de Change outlets and have them convert cash to bitcoin, monero etc. I'm surprised this isn't already happening to be honest - they have all the infrastructure and licenses already.
withinboredom 5y ago
I’m sure if you’re a store with a bunch of Karen’s asking if you accept an OF card for payment, you’d probably reach out to OF to figure out how to get that money that just walked out the door…
- Godel_unicode 5y ago
  What are the odds that an OF card would be the only card someone has, though? See for example Dinner's Club.
  - withinboredom 5y ago
    I guess they’d probably have another card, but one has more money on it than the others?
    - Godel_unicode 5y ago
      You have to see how tenuous this is, right?
      - withinboredom 5y ago
        Isn't that how all payment methods get started? Apple Pay wasn't just randomly accepted, people asked and when the answer was "no," they walked out the door.
        Godel_unicode 5y ago
        Not successfully for several hundred years, no. Bottom-up creation of payment methods isn't a thing. Please take a look at the history of the Diner's Club card, and compare it to Amex. Apple Pay is widely accepted because of three things, ordered here from least to most important: Apple applying pressure on the processors to accept it, paying them when necessary, and the fact that giant card data breaches like Target and Home Depot meant that the whole market needed to move away from magstripe anyway. People taking grass roots action was not a part of the change in any meaningful way (at least partly because it never happened). There's this very popular cryptocurrency story that individual people have power in this market. The problem with that narrative is that virtually nobody cares enough this issue because it's just not that important. Sorry.
        withinboredom 5y ago
        Interesting! I’d always assumed it was a grassroots thing. Thanks for taking the time to teach me otherwise!
gumby 5y ago
I wonder how many would carry the pornocard in their wallet. Perhaps the ViceCard or even FreedomOfSpeechCard. I doubt ApplePay would support it. Perhaps a membership service like Costco. Probably someone has tried it, like perhaps a casino chain.

alasdair_ 5y ago

You'd probably need to create a network of people that accepted physical cash and gave you crypto in return, sort of like localbitcoins. I guess you could buy a chain of Bureau de Change outlets and have them convert cash to bitcoin, monero etc. I'm surprised this isn't already happening to be honest - they have all the infrastructure and licenses already.

withinboredom 5y ago

I’m sure if you’re a store with a bunch of Karen’s asking if you accept an OF card for payment, you’d probably reach out to OF to figure out how to get that money that just walked out the door…

Godel_unicode 5y ago
What are the odds that an OF card would be the only card someone has, though? See for example Dinner's Club.
- withinboredom 5y ago
  I guess they’d probably have another card, but one has more money on it than the others?
  - Godel_unicode 5y ago
    You have to see how tenuous this is, right?
    - withinboredom 5y ago
      Isn't that how all payment methods get started? Apple Pay wasn't just randomly accepted, people asked and when the answer was "no," they walked out the door.
      - Godel_unicode 5y ago
        Not successfully for several hundred years, no. Bottom-up creation of payment methods isn't a thing. Please take a look at the history of the Diner's Club card, and compare it to Amex. Apple Pay is widely accepted because of three things, ordered here from least to most important: Apple applying pressure on the processors to accept it, paying them when necessary, and the fact that giant card data breaches like Target and Home Depot meant that the whole market needed to move away from magstripe anyway. People taking grass roots action was not a part of the change in any meaningful way (at least partly because it never happened). There's this very popular cryptocurrency story that individual people have power in this market. The problem with that narrative is that virtually nobody cares enough this issue because it's just not that important. Sorry.
        withinboredom 5y ago
        Interesting! I’d always assumed it was a grassroots thing. Thanks for taking the time to teach me otherwise!

gumby 5y ago

I wonder how many would carry the pornocard in their wallet. Perhaps the ViceCard or even FreedomOfSpeechCard. I doubt ApplePay would support it. Perhaps a membership service like Costco. Probably someone has tried it, like perhaps a casino chain.