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Bitcoin is really bad for using as currency, due to the fact that there is a permanent, public ledger of all transactions. Why would you want anyone you pay to be able to see and trace every transaction you've ever made? Pay rent in bitcoin, now your landlord can calculate your spending and who you do transactions with. And yes, there are services that aggregate and obfuscate transactions in order to make them less traceable, but now you've just reinvented the same centralized payment processor system that the whole thing is supposed to be replacing... so... what's the point?
Cash is good for using as currency.
You can use a p2p service, like Lightning with onion routing.
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Ah, and here is where the commenter learns that “capitalist” competitors have legislated their opponents out of business, bought them out, or colluded with them.
Oh, and it’s not just payment processors.
It's not "capitalist", it's capitalist. This is what capitalism does.
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The banks/governments can't freeze your bitcoins, nor can they simply print more or regulate the value otherwise.
You're just listing reasons why bitcoin sucks lol. Oh no!!! Flight risk criminals and terrorists had their accounts frozen!!! Oh no, ReGuLaTiOn BaD!!! Grow up.
Finite currencies (like gold/silver/bitcoin) are deflationary currencies and are genuinely absolutely terrible for an economy. That's why we don't use gold anymore.
It wasn't my intention to come off as supporting it. I was simply giving the objective reasons for its creation. I see it as a tool that can be useful in some situations, but can be problematic in others.
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Not really a meme meme, but i felt like i had to :s
This comic goes from 2020 to 1984, was this comic originally about idiots that compared wearing a face mask to wearing a jew star?
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the economic moat of regulations and infrastructure that has to be overcome before you even can start acquiring customers. You would need a massive capital outlay just to start in last position to compete. Then you have to pay your sydadmins and sales and help desk and administration for how long before you have enough customers to break even? all on a gamble that the government won't hamstring you on behalf of their corporate sponsors. and who is to say the rest of the financial world won't cut you off; you can't process payments if you can't access users banks, it's all cooperative between entities that benefit from it being a small club.
all of this risk to capture the relatively small nsfw market looks like a bad gamble to me, even though i strongly support the nsfw market myself! I spent decades in e-commerce and nsfw ecommerce and it's trickier than it might look.
Yoid be starting in 1st position for all these transactions that just lost a market.
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so... what's the point?
The point isn't anonymity, but independence and autonomy. It's hard to shut down and hard to tax. The banks/governments can't freeze your bitcoins, nor can they simply print more or regulate the value otherwise.
Just ban it worldwide and have the police arrest anyone running a node
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Yoid be starting in 1st position for all these transactions that just lost a market.
wrote last edited by [email protected]that's not just the smallest market it's the most troublesome market which is one of the reasons it's a hot potato. If you limited yourself to just nsfw you would still need the infrastructure to process any types of payments and still be at the bottom of the current players. You would be hamstringing yourself and it would be even tougher.
NSFW and borderline legal stuff (like phone spyware apps) have a chargeback rate that is way higher than traditional retail. Users buy porn then charge it back to their credit card when the post nut clarity sets in. When i worked in the industry that was the constant battle from the retailer side; processors like CCBill were the most lenient but even they would cut you off if your chargeback rate was too high and it was always right on the border. Even on sex toys the chargeback rate is more than double just selling t shirts and stuffies.
I don't know the financial side and have no idea why the chargebacks were such a massive deal to the processors. I can imagine being a small outfit it would be very difficult though if the margins were super thin.
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This comic goes from 2020 to 1984, was this comic originally about idiots that compared wearing a face mask to wearing a jew star?
wrote last edited by [email protected]Worse, it was when Twitter banned Trump. This is just like when the Savage John asked to be exiled from the World State but the Controller forces him to engage in society to torture him.
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Bitcoin wouldn't be an awful solution to this, but there's certainly a few better ones, such as
- Visa and MC just being the opinionless payment providers they ought to be.
- Regulation enforcing all payment providers to be similarly opinionless.
- Ethereum, or another crypto more suited to many, fast payments
- A layer-2 network over Bitcoin that can enable many fast payments, such as the lightning network.
- Monero for private, almost untraceable transaction, keep furry vore artist under cover and still paid in oppressive country.
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that's not just the smallest market it's the most troublesome market which is one of the reasons it's a hot potato. If you limited yourself to just nsfw you would still need the infrastructure to process any types of payments and still be at the bottom of the current players. You would be hamstringing yourself and it would be even tougher.
NSFW and borderline legal stuff (like phone spyware apps) have a chargeback rate that is way higher than traditional retail. Users buy porn then charge it back to their credit card when the post nut clarity sets in. When i worked in the industry that was the constant battle from the retailer side; processors like CCBill were the most lenient but even they would cut you off if your chargeback rate was too high and it was always right on the border. Even on sex toys the chargeback rate is more than double just selling t shirts and stuffies.
I don't know the financial side and have no idea why the chargebacks were such a massive deal to the processors. I can imagine being a small outfit it would be very difficult though if the margins were super thin.
have no idea why the chargebacks were such a massive deal to the processors.
They don't have a lot of things to measure when attempting to address fraud, but that's one of them.
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Let's make a community run payment processor then. We'll valiantly process porn payments.
So crypto?
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have no idea why the chargebacks were such a massive deal to the processors.
They don't have a lot of things to measure when attempting to address fraud, but that's one of them.
oh that makes perfect sense thanks!
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Bitcoin is really bad for using as currency, due to the fact that there is a permanent, public ledger of all transactions. Why would you want anyone you pay to be able to see and trace every transaction you've ever made? Pay rent in bitcoin, now your landlord can calculate your spending and who you do transactions with. And yes, there are services that aggregate and obfuscate transactions in order to make them less traceable, but now you've just reinvented the same centralized payment processor system that the whole thing is supposed to be replacing... so... what's the point?
Cash is good for using as currency.
So monero?
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Just ban it worldwide and have the police arrest anyone running a node
oh wow, it's that easy? we should do it with other things like piracy, human trafficking, tax evasion, insider trading, bribery, cyberattacks and environmental violations as well. oh wait, we did? it didn't stop it? i'm shocked. /s
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This comic goes from 2020 to 1984, was this comic originally about idiots that compared wearing a face mask to wearing a jew star?
wrote last edited by [email protected]There was a reddit sub where they take in unfunny comics (usually sexist) and then edit them to be funny. That's how this actually became a meme.
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That spelling normally infuriates me, but in service of the pun, we're going to have to allow it.
I am a world renowned bad speller, so I thank you for your patience with me.
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Speed running the porn companies making their own payment processor
AFAIK there's pay processing business that will do nsfw transactions but they ask for extra money.
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The banks/governments can't freeze your bitcoins, nor can they simply print more or regulate the value otherwise.
You're just listing reasons why bitcoin sucks lol. Oh no!!! Flight risk criminals and terrorists had their accounts frozen!!! Oh no, ReGuLaTiOn BaD!!! Grow up.
Finite currencies (like gold/silver/bitcoin) are deflationary currencies and are genuinely absolutely terrible for an economy. That's why we don't use gold anymore.
Finite currencies (like gold/silver/bitcoin) are deflationary currencies and are genuinely absolutely terrible for an economy.
Myth. Deflation is just negative inflation, and that's been fine.
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You can make intermediate wallets to obfuscate transfers, like throwaways, so the wallet that pays your rent is different from the one ordering a dragon dildo and it's hard to say if it's the same person, but it's a hassle and you'll get extra transaction fees.
Obfuscation is not security.
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Oh cool. Minor environmental disasters wrapped in explosive deflation.
It takes one wind turbine to run all of Ethereum.
Deflation is not relevant for a transaction.
