Hacker News Board Hacker News, browsed like a classic message board
Live data from Hacker News

PayPal stops payouts to models on Pornhub

vice.com

Post reply on HN
Print view View original

411–420 of 802 posts

Re: PayPal stops payouts to models on Pornhub

#411

Post by stale2002 »

lvturner wrote: post #390
stale2002 wrote: post #244

Earlier quoted context omitted.

Coinbase isn't currently being deplatformed, though. That is a hypothetical situation which seems to me like it would be pretty unlikely. Banks aren't talking about deplatforming coinbase, for whatever reason, therefore it is useful. The whole "what if the government/banks banned Bitcoin!?" Is a pretty silly hypothetical, to me, because if you look at what these groups are actually doing, you will see that they aren'…

I get your point that it isn't currently deemed at risk of being deplatformed - but while there are some differences, Bitfinex are having difficulties with finding people willing to bank with them. So there is precedence there.

Sure! I agree. It might be possible that things will change in the future. And if things change, then I agree that this might cause problems.

The only reason why I am sceptical, though, is because I have heard these same arguments, about how the government will ban Bitcoin, for 6-7 years. And yet it hasn't happened yet.

So it is totally possible that this time is different. But I just feel like, I need to be very sceptical about these arguments, until they actually happen. Because I heard them before, and those people were proven wrong.

But you are right, in that it is very possible that maybe this time is different.

Re: PayPal stops payouts to models on Pornhub

#412

Post by codexon »

kadoban wrote: post #408
codexon wrote: post #402

Earlier quoted context omitted.

In order to use the lightning network, you are making a smart contract on the normal slow bitcoin ledger with another party. You need to insert a pre-determined amount of money into this system to be able to spend it. Most consumers will not want to do this because they don't know who they will be buying from and don't know how much they are going to spend. If they decide they want to buy from random website Z one da…

Okay, but the lightning network is not just "here's all my money, please don't run off". There's crypto around it, a multisig protocol designed to prevent exactly that, no? If it was just some crap exchange, why would anyone be bothering, and especially why would it be taking so long?

Um no, you deposit all your bitcoin into Coinbase's bitcoin wallet so there's no crypto enforcement that you own the bitcoin anymore. That's the only way Coinbase can safely use your bitcoin on their lightning network connections.

They need to commit regular bitcoin into a lightning network channel on the main blockchain before they can spend it.

Re: PayPal stops payouts to models on Pornhub

#413

Post by dragonwriter »

jkaplowitz wrote: post #391
belltaco wrote: post #347

Earlier quoted context omitted.

Sesta/Fosta potentially make Pornhub/Paypal liable.

Pornhub is Canadian, not American (their HQ is Montreal). Of course PayPal is American and Pornhub has plenty of dealings with the US, so your point stands.

> Pornhub is Canadian, not American (their HQ is Montreal).

That doesn't necessarily make them, or their principals, immune to US civil or criminal sanctions.

Re: PayPal stops payouts to models on Pornhub

#415

Post by Spooky23 »

arminiusreturns wrote: post #299
geomark wrote: post #257

Earlier quoted context omitted.

This is the thing I find very disturbing. That an industry as highly regulated and essential to every day life as banking can pick and choose based on management's moral choices.

UBS and other bankers catering to major drug cartel money though... crickets and maybe a small percentage fine.

UBS and HSBC aren’t US banks.

Re: PayPal stops payouts to models on Pornhub

#416

Post by [deleted] »

gorgoiler wrote: post #120
spookthesunset wrote: post #70

Earlier quoted context omitted.

Fraud. One of the factors in determining your interchange fees as a merchant is your risk profile. It is why a grocery store has a different fee structure than a gas station or a restaurant. Almost the entire industry is driven by risk profiles.

It feels like there’s two kinds of fraud, and I think you mean both? (1) I buy a camera online, but the store mails me a brick. The payment provider steps in (at their own cost) to investigate and resolve the fraud, which is costly. (2) The technology of the payment provider itself is subverted. For example, someone clones the mag stripe on my 1980s credit card and goes on a spending spree. Again, the payment provide…

[deleted]

Re: PayPal stops payouts to models on Pornhub

#417

Post by jedimastert »

miohtama wrote: post #220
mjevans wrote: post #7

A chilling effect on free speech. Real alternatives to paypal and credit cards need to enter the market. It sadly looks like my favorite hope is still not ready, but I am hopeful that this is due to slow and careful development that will lead to a stable long term outcome. https://taler.net/en/faq.html

There are alternatives. Even obvious ones like wire transfers (ACH, SEPA) which have less fraud due to enforced two-factor and better online banking cyber security. PayPal, on the other hand, is free game after you infect a Windows PC with any malware. The problem is that your CC number is both username and password. Cardsters are looking ways to convert soft credit card money to something without chargebacks. These…

> Even obvious ones like wire transfers (ACH, SEPA)

This is assuming that banks don't just close your accounts for the same reasons...

https://www.cnbc.com/2014/04/26/chase-closing-accounts-of-po...

Re: PayPal stops payouts to models on Pornhub

#418

Post by nintendo1889 »

RileyJames wrote: post #377
bcheung wrote: post #247

Earlier quoted context omitted.

I've had several friends in the adult industry have their checking accounts closed at a several major banks as well. Traditional banking should definitely not be discriminating against fully legal activities.

This debate is currently brewing in Australia, except its against providing services to mining companies. When is right / wrong to boycott? And who should be allowed to? (Persons or companies) Context: in Australia the prime minister (Scott Morrison) is looking into laws to ban boycotts by companies (who are being compelled by people / public opinion)

Think about refusing to bake a cake for homosexuals. How is this any different?

Re: PayPal stops payouts to models on Pornhub

#419

Post by kadoban »

codexon wrote: post #412
kadoban wrote: post #408

Earlier quoted context omitted.

Okay, but the lightning network is not just "here's all my money, please don't run off". There's crypto around it, a multisig protocol designed to prevent exactly that, no? If it was just some crap exchange, why would anyone be bothering, and especially why would it be taking so long?

Um no, you deposit all your bitcoin into Coinbase's bitcoin wallet so there's no crypto enforcement that you own the bitcoin anymore. That's the only way Coinbase can safely use your bitcoin on their lightning network connections. They need to commit regular bitcoin into a lightning network channel on the main blockchain before they can spend it.

That's not lightning. That's just how exchanges work now.

Re: PayPal stops payouts to models on Pornhub

#420

Post by IAmGraydon »

bcheung wrote: post #247
aazaa wrote: post #135

Financial deplatforming is a monster, long-term trend to watch over the next decades. Deplatforming happens with sex workers. It also happens in the US marijuana industry. It happens with perfectly legal political content. The number of ways in which someone, somewhere will be offended by products or services for sale is growing, driven by a rapidly improving worldwide communication network and delivery system, and b…

I've had several friends in the adult industry have their checking accounts closed at a several major banks as well. Traditional banking should definitely not be discriminating against fully legal activities.

Checking accounts or merchant accounts? Most banks shy away from processing credit cards for adult sites because the chargeback rate is sky high and it therefore presents elevated risk. It has nothing to do with discrimination.
Post reply on HN