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MasterCard suspends all services in Russia

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Re: MasterCard suspends all services in Russia

#151

Post by 3np »

colesantiago wrote: post #107
alkonaut wrote: post #57

Earlier quoted context omitted.

Anyone who ran across the border and hoped to get their savings from inside Russia once out were naive (or more likely just in a hurry). This is one of few good use cases for cryptocurrency.

This is still not a usecase for 'cryptocurrencies' at all. In fact the big crypto exchanges have now blocked Russian users.

There are ways to exchange fiat for cryptocurrency without going through a regulated business. Bisq, localcryptos, coordinating over chat and meeting up IRL.

Re: MasterCard suspends all services in Russia

#152

Post by vimy »

323 wrote: post #112
cm2187 wrote: post #59

Earlier quoted context omitted.

Thanks for implying I don't know what an economic sanction is. I do not believe this is part of the economic sanctions announced by gvts. This is a private initiative.

An article from yesterday regarding SWIFT explained this. The western govs issued a "commander's intent" to sanction Russia. That's basically a direction that every financial entity which does transactions with Russia must assume that they too should suspend operations, unless explicitly cleared otherwise. Russia was declared "untouchable", unless you have explicit permission to touch it (like energy markets). https:…

I don’t think that’s true. Otherwise, Mastercard/Visa/Paypal wouldn’t have waited this long. I think Russia is being ‘canceled’. They have become toxic to companies. It’s PR related, not because of government orders.

Re: MasterCard suspends all services in Russia

#153

Post by 331c8c71 »

chrsw wrote: post #140
empressplay wrote: post #127

Earlier quoted context omitted.

NATO will not get involved in Ukraine militarily ever. Period. This isn’t a stage, this is all there is. Accept it already.

Why would Putin stop at Ukraine?

because he's not expanding russia. hes not letting ukraine to join nato.

Check john mearsheimer for an understanding how putin thinks

Re: MasterCard suspends all services in Russia

#154

Post by chasd00 »

lil_dispaches wrote: post #11
systemvoltage wrote: post #9

Do companies of this size already have the infrastructure built, a kill switch of the sorts, to turn off an entire country’s payment system? I’m thinking not just technology wise, but also things like existing subscriptions and contractual legal stuff between countries, customers, etc. It seems like a monumental undertaking to integrate payment systems for a new country, turning it off seems even more impressive.

I don't think this is act of war protest. These corporation know the inside score, they help write the narrative. I predict these companies are giving up Russia for good. This is a signal of a long term shift in world order and these corporate boards know it, because they engineer it with policies and propaganda.

Accenture and McKinsey both closed up shop in Russia. For those two to leave money on the table means there’s definitely something big happening behind the scenes.

Re: MasterCard suspends all services in Russia

#155

Post by tlogan »

Excellent! I hope this will at least make Putin less popular. And hopefully he will be replaced with somebody else.

The biggest mistake Putin made is that he was under impression that Russia can survive alone and isolated. That might be possible in 60s but not any more.

Re: MasterCard suspends all services in Russia

#156

Post by DaiPlusPlus »

sneak wrote: post #105
lostwords wrote: post #99

It's the first action against Russia that made me angry. It's so stupid and wrong at the same time. So, in Russia all the cards will work, nothing is changed here (despite the statements of Visa and Mastercard). Cards issued by Russian banks would stop work abroad. The same is true for any foreign cards in Russia. So, foreigners in Russia are fucked. People who left Russia in a hurry because they didn't want to be pa…

Political/humanitarian circumstances aside, this is a good reminder to all of us, everywhere, that 100% reliance on centralized electronic payment systems is risky because they have rare but total failure modes. ALWAYS carry and travel with cash, no matter what. ALWAYS keep enough cash hidden in your home to cover a month or more of expenses.

> ALWAYS carry and travel with cash, no matter what.

Funny, that's the exact opposite of the advice I hear to only travel with only petty-cash and rely on cards instead, so if you're mugged/robbed or simply misplace your wallet you won't be SOL far from home.

Re: MasterCard suspends all services in Russia

#157

Post by daxuak »

lostwords wrote: post #99

It's the first action against Russia that made me angry. It's so stupid and wrong at the same time. So, in Russia all the cards will work, nothing is changed here (despite the statements of Visa and Mastercard). Cards issued by Russian banks would stop work abroad. The same is true for any foreign cards in Russia. So, foreigners in Russia are fucked. People who left Russia in a hurry because they didn't want to be pa…

People paying servers to selfhost are also fucked. This makes absolutely no sense since we all know the oligarchs etc will have oversea bankings and stay float. It's the average people who get punished, all for something they have no control over.

Re: MasterCard suspends all services in Russia

#158

Post by colesantiago »

analyte123 wrote: post #134
colesantiago wrote: post #100

Earlier quoted context omitted.

Monero isn't really private or secure and was a subject to a 51% attack so this is a moot point.

Can you elaborate on what makes Monero not private or secure?

Look up CipherTrace [0] and I said before a 51% attack was highly likely on Monero.

[0] https://decrypt.co/40284/us-homeland-security-can-now-track-...

Re: MasterCard suspends all services in Russia

#159

Post by gremlinsinc »

alkonaut wrote: post #50
cm2187 wrote: post #42

Earlier quoted context omitted.

And paypal this morning too [1] It does feel coordinated. I know corporate law is kind of irrelevant in a context of war, but it feels more than ever like a cartel. [1] https://www.reuters.com/business/paypal-shuts-down-its-servi...

In this context when one actor pulls out, the eyes turn on the others who either pull out or will have to accept being seen as supporting the regime. The coordination doesn’t have to exist for it to look coordinated. No one wants to be seen as late to leave.

Plus the longer you stay, the more the value of ruble, and exchange rates drops and stocks/etc of those affiliated w/ the sinking ship that is Russia, the more likely you are to be holding the 'hot potato' and lose the most money when everything drops....in other words better to get going while the going is good.

Re: MasterCard suspends all services in Russia

#160

Post by maxgashkov »

lostwords wrote: post #99

It's the first action against Russia that made me angry. It's so stupid and wrong at the same time. So, in Russia all the cards will work, nothing is changed here (despite the statements of Visa and Mastercard). Cards issued by Russian banks would stop work abroad. The same is true for any foreign cards in Russia. So, foreigners in Russia are fucked. People who left Russia in a hurry because they didn't want to be pa…

A little background on why the cards won't stop working in Russia.

After first sanctions due to Crimean & Donbass conflict started rolling out in 2014, Russian gvt saw the writing on the wall and gradually strong-armed Visa & MC to move all the local transaction processing to НСПК (National System for Payment Cards).

Here's some more info on this (you can use Google Translate):

https://ru.wikipedia.org/wiki/%D0%9D%D0%B0%D1%86%D0%B8%D0%BE...

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