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PayPal stops payouts to models on Pornhub

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Re: PayPal stops payouts to models on Pornhub

#431

Post by oneplane »

beatgammit wrote: post #374
SlowRobotAhead wrote: post #359

Earlier quoted context omitted.

Talk to gun retailers that were shut down by Chase and Bank of America. Legal has nothing to do with it. There is an increasing degree of business that entirely revolves around feelings of people who yell the loudest.

This tells me we need more anonymity. A bank doesn't need to know any more about you than wherever is necessary to complete a transaction and report tax details to you and the government, and honestly that can be done with only a tax identification number (which should be separate from a Social Security Number). The same goes for payment processors, though payment processors may additionally need a company/individual…

But then how would you know if you are processing stolen money?

Re: PayPal stops payouts to models on Pornhub

#432

Post by arcticbull »

jaywalk wrote: post #73
arcticbull wrote: post #44

Earlier quoted context omitted.

Have they set the MCC to Restaurant too? I have to imagine that triggers bonus categories for dining on credit cards, like the 4X on the Amex Gold and 3X on Sapphire Reserve. That's a heck of a bonus category haha.

It's always Restaurant from my experience, but it's not like you can pay for dances with your credit card. Just food and drinks.

A friend told me Gold Club accepts credit for dances haha.

Re: PayPal stops payouts to models on Pornhub

#433

Post by oneplane »

trixie_ wrote: post #421
codexon wrote: post #345

Earlier quoted context omitted.

Bitcoin (and all other cryptocoins) are just not usable for mass transactions. Buying anything with bitcoin takes over 10 minutes, often times over an hour for shops that are paranoid and require 3+ confirmations. During the peak bubble time, I remember buying something with bitcoin taking 2 hours!! This technical problem has not been solved and the "lightning network" just turns exchanges like Coinbase into a bank o…

10 minutes is nothing. A wire transfer can take hours. A bank transfer can take days. A wire transfer might cost you 20 bucks as well. Bitcoin is amazing at transferring large sums of money quickly, internationally, for a low overhead cost. It's extremely useful for a lot of people.

Where in the world would a wire transfer cost 20 bucks? It's practically free here unless you do something that makes the bank do extra work.

Re: PayPal stops payouts to models on Pornhub

#434

Post by DennisP »

codexon wrote: post #409
fastball wrote: post #392

Earlier quoted context omitted.

Ethereum is already a lot faster than that, and will probably get to Eth2.0 with sharding and PoS in the not too distant future. Then your ETH transactions will be blazing fast, secure, and cheap as chips. Of course, they've been saying all of that is not so far away for a couple years now, but we will see. I'm tentatively optimistic.

Ethereum is still on proof of work, so it has the same problem as bitcoin. If they made confirmations take 1 minute instead of 10 minutes, that just means their confirmations are 1/10th as reliable as Bitcoin's confirmations. Nothing was solved there. And PoS has been "not so far away for a couple years now" because they keep finding problems with it.

Ethereum uses a variant of GHOST, which is why they get away with 15-second block times.

https://github.com/ethereum/wiki/wiki/White-Paper#modified-g...

Ethereum's PoS is currently implemented in seven independent and fully interoperating clients. Multi-client testnet should roll out soon, and production is expected first quarter 2020.

Re: PayPal stops payouts to models on Pornhub

#435

Post by tuesdayrain »

codexon wrote: post #345
ryukafalz wrote: post #204

Earlier quoted context omitted.

I think part of it is a bootstrapping problem. Bitcoin solved an interesting technical problem, so people started using it. Once people started getting interested, companies popped up to sell it, but notably there was a base of users prior to that. By contrast, the barrier to entry for a new system denominated in USD is much higher. People can't really start using it until there's a company around to support it, and…

Bitcoin (and all other cryptocoins) are just not usable for mass transactions. Buying anything with bitcoin takes over 10 minutes, often times over an hour for shops that are paranoid and require 3+ confirmations. During the peak bubble time, I remember buying something with bitcoin taking 2 hours!! This technical problem has not been solved and the "lightning network" just turns exchanges like Coinbase into a bank o…

I'm not sure why you group BTC with "all other cryptocoins" when it's clear that your arguments are specific to BTC and its clones. There are many other cryptocurrencies with vastly different approaches to scaling that your post does not cover.

Re: PayPal stops payouts to models on Pornhub

#436

Post by codexon »

trixie_ wrote: post #421
codexon wrote: post #345

Earlier quoted context omitted.

Bitcoin (and all other cryptocoins) are just not usable for mass transactions. Buying anything with bitcoin takes over 10 minutes, often times over an hour for shops that are paranoid and require 3+ confirmations. During the peak bubble time, I remember buying something with bitcoin taking 2 hours!! This technical problem has not been solved and the "lightning network" just turns exchanges like Coinbase into a bank o…

10 minutes is nothing. A wire transfer can take hours. A bank transfer can take days. A wire transfer might cost you 20 bucks as well. Bitcoin is amazing at transferring large sums of money quickly, internationally, for a low overhead cost. It's extremely useful for a lot of people.

A lot of merchants ask for 3+ confirmations, and sometimes 1 confirmation can even take 20 minutes. Paypal and credit cards take seconds.

And $20 for a wire transfer pales in comparison to the fees people charge for converting bitcoin to cash https://localbitcoins.com/

Yes transferring large sums of money internationally is useful, but it is a niche, and bitcoin doesn't even do it that cheaply.

Re: PayPal stops payouts to models on Pornhub

#437

Post by cable2600 »

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…

This is Big Brother type censorship. Anyone they disagree with will get shut out of Paypal, Banks, Credit Cards, etc.

There was Hatreon but Visa canceled their services for them.

I agree the porn industry is legal and nobody forces people to watch Pornhub, now I doubt the future of Pornhub. I don't use it but I support those who do under the freedom of speech.

Re: PayPal stops payouts to models on Pornhub

#438

Post by onlyrealcuzzo »

thaumasiotes wrote: post #384
onlyrealcuzzo wrote: post #260

Earlier quoted context omitted.

Can anyone explain how this even happens? Who could possibly threaten a bank over handling financial transactions for sex workers? And what could they possibly threaten the bank with? Even if it's some big business like Chick-fil-A... Presumably they only bank with one bank, and presumably the porn and sex work industry has more money at that bank than Chick-fil-A. How's this actually work? It's not making sense to m…

> Who could possibly threaten a bank over handling financial transactions for sex workers? The government. They do it right out in the open. > And what could they possibly threaten the bank with? Shutting down the bank.

How do they do this in the open? The bank isn't doing anything illegal.

Re: PayPal stops payouts to models on Pornhub

#439

Post by dual_basis »

Spooky23 wrote: post #410
onlyrealcuzzo wrote: post #260

Earlier quoted context omitted.

Can anyone explain how this even happens? Who could possibly threaten a bank over handling financial transactions for sex workers? And what could they possibly threaten the bank with? Even if it's some big business like Chick-fil-A... Presumably they only bank with one bank, and presumably the porn and sex work industry has more money at that bank than Chick-fil-A. How's this actually work? It's not making sense to m…

Look at the recent scandal with “Girls do Porn”. Some nasty people exploited and harmed women through dishonesty and grift. Do you want your bank associated with that? Do you want to be sued because you benefited from the conduct or financed it?

Banks are associated with much worse at the higher levels of the income bracket.

Re: PayPal stops payouts to models on Pornhub

#440

Post by tuesdayrain »

epicureanideal wrote: post #291
tuesdayrain wrote: post #238

Earlier quoted context omitted.

> In fact, you can make your own payments platform denominated in USD and that's as useful as BTC for legal activities. So why go through the extra steps? Good call. These pornstars should just create their own payment platform instead of going through all the hassle of using BTC.

Wouldn't that still require some kind of cooperation from banks or credit card companies? If someone knows a way that doesn't require cooperation from these, that would be great. (I suppose one way would be to set up some sort of "western union" where you could deposit cash and someone at the "bank" would change the number in your account balance accordingly... But maybe there are regulations about this?)

I was joking. Suggesting that pornstars create their own payment platforms instead of using BTC is the single worst suggestion I've ever read on here. I'm dumbfounded that someone could seriously think that. The money transmitter license alone would cost over a million dollars.
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