4 ms·
One thing that I feel is probably not being thoroughly considered is that, given that this will likely be a credit/debit card transaction, just how many fraudul
by AgentK20 3y ago
One thing that I feel is probably not being thoroughly considered is that, given that this will likely be a credit/debit card transaction, just how many fraudulent card charges will be rung through this system, and how this will likely result in Twitter/X being banned by Visa and the other payment processors.
One of the many reasons that almost NO ONE accepts less than $2-3 on the internet for things is that if you receive a chargeback from the bank due to fraud, there is a $20-$100 FEE that is applied to your account (in addition to the transaction being reversed), and if you get too many of these (both by percentage of transaction count and dollar volume) you will be banned from the payment processor.
With the proposed $1/yr fee, it would be trivial to pay a few hundred dollars on a shady website for stolen credit card numbers, ring up huge numbers of $1 charges, and induce tens of thousands of dollars of damage while harming X's relationship with their payment provider.
- Freedom2 3y agoI'm sure that Elon has thought of this and has contingencies in place - he's definitely not the kind of person to make rash, arbitrary decisions at all.
- joshstrange 3y agoWell I just barely managed to avoid spitting my water everywhere, well done, well done.