161–170 of 450 posts
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And ransomware was making a LOT of money before crypto, so we can't blame crypto for it. Magnitude matters.
Estimated 5 billion in 2021. How much was it before crypto?
Cryptolocker is estimated to have "only" cost its victims millions. However, cryptocurrency already existed when it was released.
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The storage device doesn't matter - it's the seed words that generate the wallet that matter. If you memorize them you're good (short of someone beating it out of you or legally compelling you - even then they'd have to be able to prove it existed in the first place). You can trivially prove your gold ingot exists because you can just find it. It's also way harder to move your gold ingot out of your war-torn country,…
You can also bury your ingots/drives deep in the wilderness and only memorize where they are at
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Why the fsck would they block Ukrainians? Makes no sense.
I figure they are betting that Ukraine will be sooner or later part of Russia.
This is pretty common (simply by the size of the investments), and Yuri Milner's DST Global was in some funding rounds so they probably have a big stake.
Yuri Milner is exhibit A of how the offshore feeders fund a bunch of US tech startups, mostly for the alpha, but that also comes with influence
https://www.theatlantic.com/international/archive/2017/11/yu...
So, sanctions result in cutting off Russia, investors result in cutting off Ukraine ha.
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> their new tax collection stuff Couldn't you turn that off ?
I know, that for setting up my stripe account, I HAD to provide a credit card number, which I did not had, as they are not needed in EU.
I think there will be decent transfer of money from venture-funded NFT startups to Stripe for the next few years, followed by a dip in the market when the startups discover that selling digital art is less of a viable market than they realize.
I am personally skeptical about the end market, but Stripe seem well-insulated from the risks. I'm curious what people who are bullish on this think though – what might I be missing about the digital art market? I think paying 12 million pounds for a Renoir is bananas too, but people certainly do it [3]. I just expect digital stuff to be more volatile because it's hard to communicate that combination of artisanship and rarity.
On the topic of well-made shovels, I highly recommend the Voile Telepro in HN Orange [4] as a portable snow shovel to keep in your car if you live in a snowy climate. They will probably be on sale in spring and summer.
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[1] https://web.archive.org/web/20150516061807/https://stripe.co...
[2] https://stripe.com/blog/ending-bitcoin-support
[3] https://www.christies.com/en/lot/lot-pierre-auguste-renoir-1...
Just last year Stripe wouldn't even allow any crypto business to be their customers. You could not use Stripe if you business was crypto related. A client of mine had to switch implementation to checkout.com because of that. I wonder what changed...
Yep. Until very recently, we weren't able to support businesses selling crypto. (The regulatory details are complex.) We're now rolling out support and this page is basically about that change.
Essentially, how are existing Stripe users protected from Stripe's reputational self-harm here?
They forgot to update their terms of service. > Prohibited Businesses > You must not use Stripe’s services for the following activities: > * Pyramid schemes > * ‘Get rich quick’ schemes > * No value added services > * Predatory investment opportunities
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It's just bizarre. You end up paying your cut twice: once to convert it into crypto (paying the exact same card fees you'd pay for a direct card payment), and then once again to pay someone like Stripe for this. For either a business owner or a customer, that's a loss - increased infrastructure fees just to do business. It's the opposite of the crypto dream. But that's not Stripe's fault; it's Bitcoin's, for not crea…
there are many many more ways to acquire crypto, which many many people have done already it sounds like you have only attempted to acquire it by a combination of 1) Purchasing it 2) with a credit or debit card All it comes down to is that its a $2 trillion market with an extremely high volume of transactions, at all and when compared to the capitalization of the market so service providers cater to that, and fortuna…
A $2T market cap doesn't mean a whole lot. It's unclear how much money actually changes hands in this system. You and I could make a $2T market cap system today, right now. I'll start an excel spreadsheet and sell you a cell for ~$40. BAM! $2T market cap excel spreadsheet, even though only $40 has changed hands! Neat, eh?
I've argued with crypto enthusiasts long enough to anticipate the requisite "WHAT ABOUT STOCKS" retort. Yes. Stock market caps are also a sloppy measure, though significantly less so in magnitude. Businesses are regularly purchased outright at their market caps. There are, of course, exceptions, like Gamestop, Tesla, AMC, and many other meme stocks. But these are the exception to the rule.
Important to note that Stripe has NOT announced any crypto/blockchain/NFT products or tech of its own. The only news here is that Stripe is letting crypto companies use their various fiat processing services, now that they feel comfortable that they can legally do so. Confirmed by pc's comment [1] [1] https://news.ycombinator.com/item?id=30629169