Surely if the risk of fraud is an issue, the processing companies could simply price it into their models and charge the vendor a premium for it.
The main difference is that a gambler will keep throwing money (and encouraged to do so via dark patterns to keep the margins), whereas post-nut clarity is the main barrier to maintain the margins in porn.
What I don’t understand is the selective enforcement – why doesn’t this happen more often? Who is pressuring the payment networks?
In general merchants don't deal with client cards directly but through payment processors. The chargeback process is usually manual (meaning it requires non-negligible resources) plus it impacts the fees the card cartel collects (if the chargeback is accepted).
High risk payment processors generally agree to pay card cartels for the fee lost if chargebacks are accepted, and sometimes even perform refunds to stay within a threshold of chargebacks. This, plus extra fraud monitoring/protection makes their service more expensive.
You don't need a processor in Monaco, CCBill or PaymentCloud are US based and offer that. Now, they shave a significant chunk of the transaction in flat+percentage fees, it can be anywhere from 4 to 15% depending on your profile.
This is like saying "drugs are bad because of all the violence" when the violence is mostly a symptom of how we treat drugs.
I get they are less popular in the US but are probably, hmm, 70% of cards in Europe? So that’s a viable option.
Source: almost accidentally undid an in-shop payment because their processor was based in a different town where i had never been. Realised at the last moment where the charge came from; bank was willing to undo.
Crypto/Bitcoin, in keeping with the relationship the Internet and adult content have. Congrats Coinbase, Venmo, and others enabling censorship resistant crypto payments on your revenue bump.
And yet, that isn't happening to the same degree as visa or mastercard.
So, for whatever reason, visa and mastercard are currently, successfully, forcing OnlyFans to do this kind of policy change, whereas coinbase is not.
When the actual rubber meets the road, crypto is defacto, not as censored as visa or mastercard.
Onlyfans depends on joe average being able to do this (and not being scared off at the mention of the word "crypto")
I think crypto is about 5 - 10 years away from this point
With current tech this would just be a mobile wallet that holds stablecoins with some sort of built in funding mechanism.
The service promises huge amounts of money to, lets be honest, young women, to post nude photos of themselves. How much are you willing to be that every single photo, every video, of what has to be in the terabytes, is of someone over the age of 18. That no one 17 or younger, lured in by promises of big money, lied about their age to get it? That the platform's age verification system is 100% bulletproof and can't be fooled by photoshop.
Rather, the obvious reading of that is that onlyfans isn't primarily or deliberately hosting illegal content.
The issue is getting money from Coinbase into Wells Fargo or wherever, not getting it into Coinbase.
As usual crypto is a solution that didnt solve the problem: how do you detect underage porn so that you can mark your profits in general.
Yes, crypto incurs drag from fees and inconvenience for a platform to transact in it, but it can’t turn your payments off overnight.
(and I make these comments as a crypto skeptic)
Think Privacy.com/Lithic.com but using crypto and instant fiat->crypto conversions when the payments are made. No chargebacks, no refunds. The crypto or stablecoin are decentralized rails.
You'd have to build your own infrastructure, but you could make an actual credit card. It would have to be super jank at first (you might even have to cut actual physical checks at first). Fundamentally, a credit card is just you paying for somebody's transactions, and billing them at the end of the month (and suing them if they don't pay up).
It would be slow, and the service would be horrible, but the people accepting your money don't have a ton of other options.
And fundamentally the reason that credit cards have that customer trust is that they make it easy for customers to get refunds when the product isn't delivered, which is very hard to do for an Onlyfans-like business where there's no way to "return faulty goods" - standing in the middle between clients who think they didn't get what they paid for and sellers who think someone just wants to copy their pics without paying is not going to be a fun place to be.
The "private by default" criticism is misleading:
- While this is important in a design which mixes your transaction with a limited set of other recent transactions, in Zcash the privacy set is all of the shielded transactions ever.
- It's not a "default" technically, it's a choice of transparent and shielded, both of which are useful. "Default" is a wallet UX question. I think the latest reference wallet auto-shields things so you don't have to remember to shield what comes in from a transparent transaction.
The meme is dumb and should die imho.
Best practice would be for patrons and content producers to have dedicated wallets for OnlyFans transactions, to prevent data leakage from ledger analysis.
https://bravenewcoin.com/insights/pornhub-crypto-news
from february
Sadly it doesn't seem to be working out as the crypto-enthusiast author might have wanted.
At the moment I'm pretty sure they don't. At least, not via card-based payment systems.
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