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MasterCard suspends all services in Russia

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Re: MasterCard suspends all services in Russia

#141

Post by [deleted] »

colesantiago wrote: post #114
ghiculescu wrote: post #21

I’m not pro crypto or pro Russia, but the fact that it’s so easy to lose ones freedom to transact[0] (regardless of the specific merits here) is troubling. [0] https://mobile.twitter.com/punk6529/status/14944446246304030...

> I’m not pro crypto or pro Russia, but the fact that it’s so easy to lose ones freedom to transact[0] I am absolutely sure that Transferwise is still available for Russians to use, so the freedom to transact isn't really lost. 'Cryptocurrencies' should not be used at all.

[deleted]

Re: MasterCard suspends all services in Russia

#142

Post by [deleted] »

savant_penguin wrote: post #73
youngNed wrote: post #14

Earlier quoted context omitted.

> shutting down credit card payments will likely impact large portions of online payments. I can't think of a way to reply to this without being trite or insulting, but genuinely, what do you think is the point of a sanction?

My first reaction was "this is going to force a bunch of people to use cash again" But the, maybe obvious to you not to me, consequence is that this could shutdown the entire online marketplace in Russia (at least in the short term) Also I'm not sure I'd call it a sanction since it's coming from a private company, not a government. If I were any country right now I'd also take it as a warning to not depend on Masterc…

[deleted]

Re: MasterCard suspends all services in Russia

#143

Post by Symbiote »

jimbob45 wrote: post #81
mananaysiempre wrote: post #8

As far as I can tell, this will mainly have an impact on people trying to leave, because payments within the country will still work (if badly because the substitute system, NSPK, is shoddy), but the Russian government doesn’t allow crossing the border with more than the equivalent of 10k USD in cash (since several days ago) and most other money transfer companies are refusing service as well. So, for example, previo…

As other threads have stated, outbound Russian flights have been permanently shut down beyond a few weeks from now (and all flights are full). It doesn’t seem to be the case that exit is an option for many Russians, money or not.

Trains and buses are still running, even to the EU. Cars, too.

Re: MasterCard suspends all services in Russia

#144

Post by colesantiago »

drexlspivey wrote: post #126
colesantiago wrote: post #71

Please do not use crypto no matter how tempting it is to join the Ponzi scheme as I said before and many other critics like Stephen Diehl (@smdiehl), Molly White (@molly0xFFF) (@web3isgreat creator) and more reliable critics. https://news.ycombinator.com/item?id=30512981 Please try use Paypal with a VPN or in another country, Moneygram, Western Union or use cash, better yet use Transferwise (Wise) or buy gift cards t…

I am sure that if my life savings lost 50% of their value in a few days, I was unable to transact with it or move it and faced the possibility of it being seized I would definitely take the advice of some silicon valley armchair experts with 6 figure salaries because they totally relate to my problem.

Why do you assume i’m from silicon valley and have a 6 figure salary?

Re: MasterCard suspends all services in Russia

#145

Post by ffhhj »

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…

And they'll probably continue increasing the debt in their balances due to interests, and sueing people that don't pay.

Re: MasterCard suspends all services in Russia

#146

Post by jdrc »

colesantiago wrote: post #124
jdrc wrote: post #102

Earlier quoted context omitted.

Using crypto is actually productive use of it. It s speculation that is bothering you; that is not going to happen here. But crypto is not immune from censorship, just from centralized censorship. If bitcoin was widespread now, users would block addresses or wholesale fork the chain to oust russia

> Using crypto is actually productive use of it. It s speculation that is bothering you; that is not going to happen here. Crypto is always used for speculation and nothing else and it cannot be used as a 'currency'. The slow speeds, the high gas fees, scams and rampant rugpulls and hacks make this an unregulated wild west that even the crypto exchanges have blocked Russian users (so much for no censorship) [0] so it…

low speeds dont matter if you can use it to get your wealth out of such a situation .

Crypto exchanges have not blocked russian users. the blocked cards are in accordance with laws.

call it what you want, it's not like other kinds of money are ideal 'currencies'. All of them are tools, if they work they re good

Re: MasterCard suspends all services in Russia

#147

Post by lekevicius »

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.

[citation needed]? I only know that Binance and Kraken specifically spoken against blocking the country.

Re: MasterCard suspends all services in Russia

#148

Post by megous »

331c8c71 wrote: post #104
qznc wrote: post #34

Earlier quoted context omitted.

They worked for years towards becoming a EU member. Putin wants to turn them back into a puppet state for "his sovjet union".

EU is irrelevant. They could be EU if they agree to neutrality and let go of crimea and donbass. EDIT: EU was explicitly mentioned as irrelevant by putins press-secretary in a recent press conference (he was asked about it).

And how exactly would Putin's pupet government work towards joining the EU? It's not like it's a job for normal citizens to work towards that. This requires a desire and a massive effort of a whole government, to achieve.

Sounds like a joke.

Re: MasterCard suspends all services in Russia

#149

Post by modernpink »

nickysielicki wrote: post #49

It's hard for me to imagine a scenario where these sanctions (not just Mastercard and Visa, but all of it as a whole) are reduced without a total regime change in Russia. This is becoming a massive divestment, and I'm not sure it's a great idea. There's no guarantee that what replaces Putin is going to be more Western and not reactionary. For every Russian that is cosmopolitan and globalist, there's a dozen Russians…

We are headed into a new Cold War that will last decades. The days of globocorps marching into countries in every corner of the world and setting up shop as happened in the 90s-present are now seemingly over. The world will now move away from a trend towards globalisation to one of multipolarity and spheres of influence.

Russia has been caught out by these sanctions, but China looks to have prepared very well with much of its own sovereign digital and financial infrastructure.

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