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Yes. High value virtual content is the best way to launder money, especially if it is private content like shows. However unless there exist payment rails outs
by miohtama 5y ago
Yes. High value virtual content is the best way to launder money, especially if it is private content like shows.
However unless there exist payment rails outside Mastercard or Visa, no one is going to build ”Stripe.” The only way would be Stripe running on crypto, but then how people get crypto in the first place if not by a card?
EDIT: Crypto also lacks chargebacks (so called hard money).
- duskwuff 5y agoMore importantly, cryptocurrency also lacks recurring payments. Most adult sites depend upon income from ongoing subscriptions.
- Sargos 5y agoThe Sablier protocol (https://sablier.finance/ https://sablier.finance/) trustlessly streams crypto/stablecoins on a second/hourly/daily/monthly basis which covers use cases such as subscriptions.
- duskwuff 5y agoNo, that doesn't address the use case for subscriptions. (In fact, I'm struggling to understand why anyone would use it in its current state.) The sender of a Sablier "stream" has to set a fixed start and end time for the stream, and deposit the entire value of the stream up front. None of this makes any sense for a subscription application, where the merchant wants the subscription to recur until cancelled, and the subscriber doesn't want to make a large payment up front.
- around_here 5y agoIt doesn’t necessarily lack it, but it’s set up differently via one way payment channels.