Re:OnlyFans to block sexually explicit videos starting in Oc...
by moonchrome on Thursday August 19, 2021 @04:34PM
(#28239024)
Not really - these are high volume low value transactions and need to be low friction. Money laundering and similar illegal transactions are fine with the opposite.
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Re:OnlyFans to block sexually explicit videos starting in Oc...
by dvdkon on Thursday August 19, 2021 @04:43PM
(#28239129)
The cryptocurrencies I consider viable for this kind of thing (mostly Monero) are actually better for low-value transactions than conventional card payments, since they have a low, fixed transaction cost (well under 0.1USD, try that with VISA/MasterCard). I'm not sure about scaling volume, but the current situation looks promising.
Friction is a problem, but I don't see why sending Monero has to be any harder than with conventional payment methods. The hard part is overcoming the network effect of payment cards.