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MasterCard suspends all services in Russia

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Re: MasterCard suspends all services in Russia

#161

Post by azth »

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…

This is another reason why people are interested in Bitcoin/Ethereum/etc. It's sickening to have arbitrary governments and entities decide on a whim to freeze or steal your hard earned money.

Re: MasterCard suspends all services in Russia

#162

Post by colesantiago »

lekevicius wrote: post #147
colesantiago wrote: post #107

Earlier quoted context omitted.

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.

Great, they can ban Russians when forced to anyway? So much for no censorship on crypto tokens even a South Korean crypto exchange has done it. [0]

We both know the writing is on the wall and crypto will end up being useless for Russian users.

[0] https://cryptopotato.com/south-korean-crypto-exchanges-block...

Re: MasterCard suspends all services in Russia

#163

Post by azth »

Symbiote wrote: post #132
artdigital wrote: post #97

I have a Russian friend living abroad for a longer period of time and paying his day to day expenses with savings through credit cards. They all stopped working and he has no way to pay for anything anymore. I get why it’s done but it’s still sad to see people that have nothing to do with this situation get hit like this

My colleague's brother in Ukraine has had his day to day life interrupted by Russians dropping bombs on the city.

What does this have to do with the post you replied to? Two wrongs don't make a right.

Re: MasterCard suspends all services in Russia

#164

Post by maxgashkov »

hadrien01 wrote: post #16
tananaev wrote: post #4

Earlier quoted context omitted.

Interesting that the title says all operations are suspended, but description basically says that foreign cards won't work in Russia and Russian cards work abroad, but does it mean local Russian cards will still work in Russia? That's probably majority of transactions anyway. A bit confused here.

Russia has a home-grown card payment network (Mir) that accounts for 25% of payments. It will probably grow because of the sanctions. Edit: 25% might be false. Maybe 25% of cards are Mir-only? I'd appreciate if any Russian could chime in to clarify the percentages.

It doesn't really matter how many Mir cards are—they're just a home-grown Russian brand of a card.

The real issue is that all transactions inside Russia using Visa, MC or Mir are processed inside Russia by the same entity that runs Mir brand, and therefore won't stop working.

Re: MasterCard suspends all services in Russia

#165

Post by cft »

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…

The West is erroneously acting from a viewpoint that the majority of Russians support democracy. Thus they think that actions like this will cause popular discontent with Putin. In reality, this reckless action will only strengthen Putin's support.

Re: MasterCard suspends all services in Russia

#166

Post by koreanguy »

hadrien01 wrote: post #16
tananaev wrote: post #4

Earlier quoted context omitted.

Interesting that the title says all operations are suspended, but description basically says that foreign cards won't work in Russia and Russian cards work abroad, but does it mean local Russian cards will still work in Russia? That's probably majority of transactions anyway. A bit confused here.

Russia has a home-grown card payment network (Mir) that accounts for 25% of payments. It will probably grow because of the sanctions. Edit: 25% might be false. Maybe 25% of cards are Mir-only? I'd appreciate if any Russian could chime in to clarify the percentages.

No post body was provided.

Re: MasterCard suspends all services in Russia

#168

Post by dragonwriter »

cft wrote: post #165
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…

The West is erroneously acting from a viewpoint that the majority of Russians support democracy. Thus they think that actions like this will cause popular discontent with Putin. In reality, this reckless action will only strengthen Putin's support.

> West is erroneously acting from a viewpoint that the majority of Russians support democracy.

Sanctions have nothing to do beliefs about the presence or support for democracy.

> Thus they think that actions like this will cause popular discontent with Putin.

No, the West believes that the sanctions limit the productive capacity of the Russian economy, and thereby Putin’s capacity to maintain and expand the war, constraining his practical options

(They also think that targeted sanctions on oligarchs put pressure on their support of the regime, which may alter Putin’s choices and prospects, but that even more clearly has nothing to do with democracy.)

Re: MasterCard suspends all services in Russia

#169

Post by colesantiago »

jdrc wrote: post #146
colesantiago wrote: post #124

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. 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

So it is good that the network is congested?

I don’t think you would want to wait for hours for a payment to settle only for it to fail later because of the gas fees.

> Crypto exchanges have not blocked russian users.

Yes they have and they can.

> call it what you want, it's not like other kinds of money are ideal 'currencies'.

It isn’t money if it is loses 60% of its value in a couple of hours with additional fees I didn’t agree to.

It’s a distributed casino that only speculators use, and it would certainly won’t be useful when it all comes crashing down.

Re: MasterCard suspends all services in Russia

#170

Post by postsantum »

tlogan wrote: post #155

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.

It doesn't work this way. For decades, media had been talking about how the collective West hates russian people and want Russia go down in flames. Now everybody sees it's true. I predict Putin's rating will be sky high in the upcoming months
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