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There are two companies (Visa, MasterCard) that have a global oligopoly and full control. If you get on a blacklist for one you are done, your internet economic
by nathias 4y ago
There are two companies (Visa, MasterCard) that have a global oligopoly and full control. If you get on a blacklist for one you are done, your internet economic life is over (except crypto). I don't care if Wall Street is profiting by speculation if I'm not excluded myself, the problem is that WS is getting a lot of help with the US regulators that then regulate the global market in a way that excludes poor people.
- JumpCrisscross 4y ago> two companies (Visa, MasterCard) that have a global oligopoly and full control For one set of rails. Wires, ACH, and a number of other payment rails exist and outclass Visa + MasterCard. (Also, technically, Visa and MasterCard are analogous to SWIFT. They process payment messages. Not the transfer of dollars per se. If they chose, they could execute transactions in Bitcoin with the issuing bank and merchant bank then settling the trade on the blockchain or whatever offline.)
- nathias 4y agowhatever the details, they fully control online economy (except crypto)