Re:Rhetoric around the blockchain hints at problems with tec...
by root_axis on Monday May 14, 2018 @09:43AM
(#17065417)
The bottom line is that this isn't a real problem for legitimate businesses. If you're a business owner who's been shut out of the western banking system then your business is DOA whether or not the business accepts bitcoin. Yes, bitcoin is great if you're a rogue political organization like wikileaks, but this is a very uncommon scenario.
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Re:Rhetoric around the blockchain hints at problems with tec...
by slfnflctd on Monday May 14, 2018 @01:24PM
(#17067374)
There have been numerous, widely varied reports of legitimate businesses having their funds completely frozen for an unspecified amount of time - often long enough to sink a fledgling startup - simply because they were new and "made too much money too fast".
Payment processors have also been known to discriminate against perfectly legal businesses for a long list of random things some old jackass in a suit decided were too 'unsavory'.
I think these organizations are wrong to meddle so much rather than being passive facilitators as originally envisioned. They have a right to exclude things which put their assets at risk, as well as a legal obligation to assist law enforcement where appropriate, but beyond that neutrality and privacy should be the rule.
Re:Rhetoric around the blockchain hints at problems with tec...
by vkou on Monday May 14, 2018 @02:11PM
(#17067918)
> Payment processors have also been known to discriminate against perfectly legal businesses for a long list of random things some old jackass in a suit decided were too 'unsavory'.
Typically, it's because of fraud, not unsavory-ness. Fraud on the customer's side, not the business'.
The solution to that is not making every transaction put the weight of fraud solely on the customer.