They pressure payment processors through reputation damage and regulatory threats - these companies are terrified of being associated with anything that could trigger banking regulations or get them labeled as “enabling” problematic content in the media, its purely a risk management desicion for them.
That’s because 90% of cryptocurrency marketing consists of “THINK OF THE GAAAAAAINS YOU CAN MAKE!” instead of “You can use this to buy things without government censorship”.
The entire crypto industry has based itself around being a speculative asset, not a currency.
Which is really unfortunate. If you avoid the most popular coins (Bitcoin, Ethereum, etc), you avoid most of the scams and speculation and end up with a decent currency that respects your privacy and has low fees.
I truly don’t understand how Visa/MasterCard/etc can be pressured. They are basically infrastructure.
What’s someone going to do, stop using credit cards if they don’t stop a store that person even patronize from selling morally hazardous goods?
I don’t get how these campaigns are even effective.
Debit Cards, too.
They pressure payment processors through reputation damage and regulatory threats - these companies are terrified of being associated with anything that could trigger banking regulations or get them labeled as “enabling” problematic content in the media, its purely a risk management desicion for them.
Supposedly there was a ruling in California that made them responsible.
Cryptocurrency is the solution here, and unfortunately that’s an unpopular take here.
That’s because 90% of cryptocurrency marketing consists of “THINK OF THE GAAAAAAINS YOU CAN MAKE!” instead of “You can use this to buy things without government censorship”.
The entire crypto industry has based itself around being a speculative asset, not a currency.
Which is really unfortunate. If you avoid the most popular coins (Bitcoin, Ethereum, etc), you avoid most of the scams and speculation and end up with a decent currency that respects your privacy and has low fees.
Probably just worried Trump will over regulate them if they don’t fall in line with the Christian Radicals.