Not really a meme meme, but i felt like i had to :s
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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… 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.
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.
“Flight risk criminals and terrorists had their accounts frozen!!!”
Yes, those criminals, for example, LGBT people who conservatives believe are pornographic simply for existing. God forbid LGBT artists want to have a way of earning a living. Crypto is relied on by a lot of marginalized groups. It’s used by artists who make perfectly legal art, but whose content conservatives object to. Crypto is used by many queer content creators as they face being cut off from payment processing systems, as again, conservatives consider queer people pornographic simply for existing. Crypto is used by sex workers, often people with few other employment options. Oh, and crypto is used by trans people to get access to healthcare that is quickly being criminalized.
How insane do you have to be, in 2025 Trump’s America, to fall back on the idea that anything criminal is bad. Republicans are trying to criminalize the existence of entire swathes of the population. And those people face being cut off from the banking system entirely, if folks like you, who blindly consider legality=morality, have their way.
Ah yes, that’s why the Trump administration is one of the biggest proponents of crypto, right?? 🙄 did you even try?
How are those related? It is possible for some conservatives to want to purge LGBT voices from the internet at the same time other conservatives want to advance crypto. These are not mutually exclusive goals.
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.
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.
It’s a fact.
Deflation is just negative inflation
Yep, that’s a major problem. The total pool of currency needs to be able to grow with the economy. Take a first year econ course before speaking
It’s a myth.
The total pool of currency needs to be able to grow with the economy.
Go on, back up that statement with references from your first year econ course notes.
Under your model, how was the economy able to grow before 1976?
Under your model, how was the economy able to grow before 1976?
Gold can be mined.
You can use a p2p service, like Lightning with onion routing.
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.
It’s trivial to trace the funding of these “throwaways” to link them together… unless this entire system is supposed to just rely on using a standard bank account to fund them, which… circling back to “so what’s the point?” you could pay from that account directly to get the same benefits. Using bitcoin is completely redundant in that scenario
Obfuscation is not security.
yeah, just grants you plausible deniability
Cash is good for using as currency.
But so insanely annoying to handle and carry with you.
That’s a bad argument. Visa, MasterCard, etc. know who you’re transacting with anyway. That is functionally equivalent to just paying from a Coinbase Bitcoin wallet. On the public ledger, it’ll only show a transaction from a Coinbase wallet. No one would know it’s you other than Coinbase and the porn provider
Woth crypto you could at least send it to your wallet, throw it through Tornado Cash, then put it in another wallet, making it extremely difficult to track
In general though, if the government wants to know who made a digital transaction, they’ll be able to find out. Doesn’t matter if you use a credit card or crypto
What makes Bitcoin bad as a currency is the slow, expensive transaction times
I’m cool with not trying the money that isn’t money but instead is an environmental disaster wrapped in explosive deflation.
If this really does drive people to crypto then I hope it goes to monero or a fork of it. Try blocking or tracking transactions then.
VISA and MasterCard get to build the digital dollar so they don’t care how any of it is manipulated so long as their position as middlemen is secure.
Probably simpler than all that, at least in the US. The Puritans get something like so passed. Fine. Now who in their right mind is going to stand up and say STOP. Imagine the political smear campaign. And it will all be “for the children”.
Let’s make a community run payment processor then. We’ll valiantly process porn payments.
Having worked in the payment industry, there is a lot of work to be done.
Even if you use the EMV standard, which almost all of the payment processor are based on, the challenge is to interface with the banks and making sure that every cards and terminals follow your standard.
And that’s if you can convince banks to even accept you payment standard in the first place.
I’ve been thinking this too. I’ll use it everywhere just because
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.
I’d open a KinkPay account, when offered.
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So, this means that pretty much any paid adult content can’t accept visa, right? Or are they just stomping in the small creators for not being profitable enough?
Looking at you, OnlyFans…
For now, they are targeting more niche “taboo” kinks like incest and bdsm. But as we’ve seen time and time again with bigoted, puritanical christofascists, they will not stop there. Next, they come for the queer content. My guess is furry stuff is next under the bad faith argument of “bestiality”, then more standard queer content, including tame non-erotic content. Finally, all erotic content.
Remember, everything sexual is sinful and evil unless its a straight white cis Christian married couple having joyless missionary sex for the purposes of procreation only.
They’re already attacking furry content featuring “animal-esque genitalia”, as there were people who thought that was “zoophilic”. However, I still remember how much anime fans needed to fight, so that kemonomimi (catgirls, etc.) wouldn’t been labeled as “zoophilic”, which might be the source for the furry/anime divide in the west.
Valve has changed their content guidelines due to the requirements of the credit card processors. Itch.io, too. I wouldn’t call Valve niche.
OnlyFans felt the pressure not too long ago. It’s just when they announced they were banning porn, they realized they didn’t have anything else. So they reversed course and somehow can still take payments.
Wait what? OF banning porn? Is it 2021 again?
This isn’t new. It’s been happening for a while now.
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They supposedly love their children too.
My God… All the “pro life” movements make so much more sense now! They actually don’t care about the women, they only want the children around. And worse off the children, the better for them!
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So, why doesn’t some other payment processor step in to fill in the demand gap that the others are willfully abdicating?
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Yoid be starting in 1st position for all these transactions that just lost a market.
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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.
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Crypto it is, then.
The most likely to succeed at the moment, IMHO, would be a standardization of the various local payment systems in Europe, and there is already some movement in that direction in a growing group of countries, but it probably needs a push from the EU itself, similarly to how GSM was pushed as a standard for mobile communications by European governments as a group and ended up dominating globally (which is also why, for a period and until smartphones became a thing, European mobile telephony companies were wildly successful).
I’m sorry for Americans who aren’t assholes (most here in Lemmy as far as I can tell) but the rest of the World does need to decouple from speed-running-to-Gilead America at all levels before it’s too late.
I don’t get it. Will they also ban sex shops, adult cinemas and every other offline adult entertainment thing that exist?
Now that weed is being widely accepted legally, porn is the new prohibition.
two steps forward ten steps back, eh?
Man. I remember being a kid and dreaming about a world where puritans got laughed out of existence. Then we had the “woke” era which shocked me sideways. I never dreamed that progressive thinking people would get hung up on regressive shit like policing language, it reminded me of being in church as a kid and hearing about those dreaded, awful, naughty words. But hey, at least their goals were well meaning and driven by empathy and concern for how other people have it in this world.
Who did they piss off though? The fucking puritans. The very people who policed language all of my childhood. It turns out that nothing ever meant anything to them, they just wanted to control people. “Don’t tell me I can’t call a little person a midget! Bad words is fuck and shit! Not me making fun of people!!!” One group said, “if it’s fun it’s bad.” The other group said, “if anyone is hurt by it, it’s bad.”
Now the puritans have gone full fascist because they felt like they were losing some culture war, so they want it all, and they scream loud enough to be heard.
It’s like this tug of war that is just going to end with regular people who don’t raise hell when they get upset being shoved into the dirt by a loud crybaby minority of people.
Before I had any grasp of history, I just assumed that people were always heading toward being more liberal in how they deal with the world.
Nope, this is what we do. We have cycles of enlightenment and cycles of assholes responding to said enlightenment. Somebody always has to be morally superior, fighting some ugly enemy. If we ran out of reasons to fight tomorrow, we’d just argue over some other dumb shit.
I’m drunk, so please don’t take me too seriously. I’ll probably wake up tomorrow and argue with myself about deleting this comment haha.
Whatever happens, I really hope we have freedom at the end of the day. I don’t care what it costs. Maybe we aren’t meant to have it. Maybe our nature is just too ugly.
Time for Europe to get its own payment processor and stop being dependent on companies from Gilead.
Gilead? The Pharma company??
Hoover? The vacuum guy?
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Wow, i didn’t know they had made that? Well, never heard about it, but that’s cool! I love everything made by/with the GNU Project :p
It’s legal until someone challenges it in court and they say it isn’t. Sue.
Absolutely. I suspect the courts will find that if you are picky about what you allow, then you are responsible for it. It might force a push back to safe harbor type situations absolving them of caring about processing porn.
Sex art is art
I’m not a cryptobro but these things make me want to hodl on some
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Easy. Agree on the price in a more stable currency, and pay the equivalent in crypto when the work is done.
Capitalism is actually the fix for this one for once. Just be the only payment processor that lets you buy anything legal. Demand for your services guarantees your success and the others die out.
Let’s see if republicans still like capitalism now.
Capitalism isn’t the fix, banks are in cahoots with visa/mastercard and they will absolutely shut down any competition.
Who said anything about banks? Republicans are all in on crypto. let’s play this game.
Lol, that’s not a thing. The infrastructure required is too kuch, and most banks are conservative.
Money is now the enemy.
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.
This is why some of us love crypto currencies so much despite the hate it gets from so many who claim there is no intrinsic value, it’s a scam, etc.
Stay away from shit coins, no doubt, but the intrinsic value is that you can side step all of the bullshit and spend your money as you choose. No need to get permission first. It’s looking to be a much better path forward, and payment processors inserting their own rules will only drive more acceptance of alternative payment methods.
I mean this is a false dichotomy. You can have a payment system that isn’t a shit show like crypto or a duopoly like Visa and Mastercard.
??? Nothing about what I said was a dichotomy of any kind. Where did I exclude the possibility to create something else?
All I did was use this situation to illustrate why crypto has value today.
