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OnlyFans to block sexually explicit videos starting in October

bloomberg.com

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Re: OnlyFans to block sexually explicit videos starting in October

#141

Post by Alex3917 »

toomuchtodo wrote: post #125
ramesh31 wrote: post #123

Earlier quoted context omitted.

It's not like they have a choice. Their business was only ever viable at the behest of their payment provider. The reason no one has made an OnlyFans before, and the reason why people have tried and failed, entirely comes down to this.

Oh god I can’t believe I’m going to say this. Crypto/Bitcoin, in keeping with the relationship the Internet and adult content have. Congrats Coinbase, Venmo, and others enabling censorship resistant crypto payments on your revenue bump.

Getting a payment provider an adult business using crypto is going to be even harder than getting a payment provider for just an adult business.

Re: OnlyFans to block sexually explicit videos starting in October

#144

Post by post_break »

This makes me think of Operation Choke Point. I understand payment processors need to limit fraud and risk, but at what point do they get to determine what a legal business does? I understand the mental gymnastics involved to think a private business gets to choose who they do business with, but when there are only a handful of businesses doing the processing what then?

https://en.wikipedia.org/wiki/Operation_Choke_Point

Re: OnlyFans to block sexually explicit videos starting in October

#145

Post by nathias »

root_axis wrote: post #137
TekMol wrote: post #116

mounting pressure from banking partners and payment providers HN is often sceptical about use cases for crypto beyond speculation. This looks like one.

So why do you think they decided to ban sexually explicit content rather than use cryptocurrency?

because the payment providers have 99% of market share?

Re: OnlyFans to block sexually explicit videos starting in October

#147

Post by monocasa »

bcheung wrote: post #96
monocasa wrote: post #36

Earlier quoted context omitted.

Because it's Visa and Mastercard saying no, not the banks.

Visa and Mastercard allow adult. They just force you to pay the "high-risk" category. Which is much higher fees. OF can't get away with only charging models 20% if credit card processing is taking more than half of that. I suspect they are currently not classified as adult and the banks are saying, look, you are almost entirely adult so you have to pay us more.

I mean, yeah, that's one of the mechanisms. Charge you close to an order of magnitude more for being "high-risk", while also putting all the actual risk on you as well. Visa/MC are more than compensated for each chargeback with the additional fees the charge the vendor for each chargeback.

Re: OnlyFans to block sexually explicit videos starting in October

#148

Post by traveltek »

mrRandomGuy wrote: post #132
toomuchtodo wrote: post #125

Earlier quoted context omitted.

Oh god I can’t believe I’m going to say this. Crypto/Bitcoin, in keeping with the relationship the Internet and adult content have. Congrats Coinbase, Venmo, and others enabling censorship resistant crypto payments on your revenue bump.

LOL This is would actually work! Holy crap if OnlyFans actually started accepting bitcoin that would be incredible

transaction fees would be too high, transactions would take too long, and the transactions would be public.
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