PayPal stops payouts to models on Pornhub

Post by swebs » Fri, Nov 15, 2019, 9:38 AM UTC

Corrado wrote: post #561

xtracto wrote: post #277

Earlier quoted context omitted.

The problem for those providers is often not their own morals per se. But the fear of being related to certain verticals. This oftentimes has a real impact on lost deals from other companies that do have a moral judgment and wont do business with you if you are related say to marijuana selling companies.

In that case, wouldn't this be a great opportunity to start a payment processor that (mainly) deals with these "fringe" verticals? What's stopping someone from creating MoralPay (or whatever) that accepts all money from adult entertainment, dispensaries, etc. From what I understand there is a huge market for processing legal monies from these types of businesses, especially dispensaries. Is it too difficult in 2019 t…

Post by Ralfp » Fri, Nov 15, 2019, 9:47 AM UTC

ptaipale wrote: post #582

yati wrote: post #575

Earlier quoted context omitted.

So I can't use my personal account to receive salaries? Does the bank have to know/care about the details my profession?

Depends on what your "salary" is. In the EU, the banks are obligated to find out where you get your money. And they have an obligation to close your account if they don't get satisfactory answers. "Know your customer". My bank has recently started to ask customers to clarify transfers, and even shoot and send some video of themselves, smiling, and explaining things. I haven't got that myself yet but several colleague…

Post by kmlx » Fri, Nov 15, 2019, 9:48 AM UTC

yati wrote: post #575

hsailor wrote: post #558

Earlier quoted context omitted.

A jedermann Konto or Basiskonto refers only to a personal account. If a client uses this account for commercial activities (eg receiving payments in the said industry), the bank has every right to close the account.

So I can't use my personal account to receive salaries? Does the bank have to know/care about the details my profession?

Post by rusk » Fri, Nov 15, 2019, 9:52 AM UTC

Ralfp wrote: post #583

ptaipale wrote: post #582

Earlier quoted context omitted.

Depends on what your "salary" is. In the EU, the banks are obligated to find out where you get your money. And they have an obligation to close your account if they don't get satisfactory answers. "Know your customer". My bank has recently started to ask customers to clarify transfers, and even shoot and send some video of themselves, smiling, and explaining things. I haven't got that myself yet but several colleague…

In EU there is an anti-money laundering directive, but it’s mostly up to member countries how they’ll implement it. As usual some countries implemented it reasonably while others didn’t.

Post by _Kristijan_ » Fri, Nov 15, 2019, 9:54 AM UTC

codexon wrote: post #345

ryukafalz wrote: post #204

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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…