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MasterCard suspends all services in Russia

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Re: MasterCard suspends all services in Russia

#241

Post by vkou »

3np wrote: post #12
samwillis wrote: post #5

Mirror: https://archive.ph/d5RmA (was down) Key passage: “ With this action, cards issued by Russian banks will no longer be supported by the Mastercard network. And, any Mastercard issued outside of the country will not work at Russian merchants or ATMs.” I don’t believe it’s clear that cards issued in Russia are not still being accepted within Russia. Which is what I believe Visa is still doing: “ all transactions…

So individuals who recently left Russia out of fear for the regime and may be in very vulnerable positions have potentially unexpectedly lost access to their funds until they can sort that out... Meanwhile, for The Real Russians, business as usual. This looks like theatre hurting the wrong people.

It's not theatre, between this, and the trade disruptions, it's currently crippling the Russian domestic economy.

People at different levels of society are, of course, affected differently, but everybody's affected at this point. Even for an aristocrat, drinking moonshine in Krasnodar just doesn't have the same caché as Don Perignon in Paris.

Re: MasterCard suspends all services in Russia

#242

Post by 3np »

root_axis wrote: post #212
3np wrote: post #151

Earlier quoted context omitted.

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

Ok. So there's a war on, and I make a public post online advertising that I have a bunch of cash and I'd like to meet up to facilitate a trade...

Did you check out the anonymity properties of Bisq and localcryptos?

Re: MasterCard suspends all services in Russia

#243

Post by DarkmSparks »

laluser wrote: post #47
DarkmSparks wrote: post #30

Earlier quoted context omitted.

Which, tbh, was pretty much the stated intention before starting the conflict - cut off the new superpowers and their historic satellite states dependence on [insolvent] western financiers.

Rip the band-aid off and take some hairs with it!

Very. They (China, Russia, India) are calling it "the multi polar world". Knocking swift, visa, mastercard and the dollar out of every country they can has been a goal for years, and now they are handing it them on a plate. Sigh.

Re: MasterCard suspends all services in Russia

#244

Post by colesantiago »

null0pointer wrote: post #238
analyte123 wrote: post #134

Earlier quoted context omitted.

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

Just ignore this guy, he’s a troll. The Cyphertrace thing he is referring to is 2 years old and EXTREMELY overblown. There is a an unclaimed bounty from the FBI to trace Monero transactions. Wouldn’t cyphertrace have claimed it if they actually could trace Monero transactions? The Monero community is very open about discussing the tech and its issues. They are near-pure technologists, not get-rich-quick-cryptobros. T…

This still means that Monero as well as the other privacy coins still have issues, if there weren’t any issues why are they not being accepted by more exchanges?

Even a reportedly private ‘cryptocurrency’ called ‘Grin’ had an attack which rendered the coin useless.

The only usecase of privacy coins is for illegitimate purposes only.

Also: I think you mean ‘CipherTrace‘, ‘CypherTrace’ does not exist.

Re: MasterCard suspends all services in Russia

#245

Post by 3np »

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.

To be more specific: They did not speak out about blocking "the country" but about closing accounts and restricting access for all Russian citizens/residents. They are, however, complying with targeted sanctions of the individuals on the sanction list.

If the scope of the OFAC sanctions forces the exchanges to start blocking Russian passport holders and/or residents, that will change, of course.

Kraken CEO tweet thread: http://nitter7bryz3jv7e3uekphigvmoyoem4al3fynerxkj22dmoxoq55...

Re: MasterCard suspends all services in Russia

#246

Post by vkou »

xdennis wrote: post #200
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...

> it’s so easy to lose ones freedom to transact How is it easy? Does your country's dictator regularly invade neighbors without so much as pretext and targets civilians?

I'll also mention that transactions work just fine in most countries ran by dictators who invade neighbours without pretext, and target civilians. Saudi princes seem to have no problems buying mega-yachts and futball clubs.

The key is that they tend to not invade European neighbours. So, yes, if you upset Europe, and all your transactions rely on European cooperation, you may no longer be able to transact.

In fact, if you upset Europe enough, and are not a nuclear state, you might even get invaded as a result. Your concerns about international financial transactions will be a bit academic at that point.

If anything, this episode should make you more confident about transactions just working. The point at which they stop working is 'We've done everything we could against you, short of declaring war.'

Re: MasterCard suspends all services in Russia

#247

Post by dehrmann »

323 wrote: post #2

Visa too: > Visa Suspends All Russia Operations https://usa.visa.com/about-visa/newsroom/press-releases.rele... MasterCard/Visa cards issued in Russia will not work abroad, cards issued abroad will not work in Russia. > MasterCard/Visa account for three-quarters of payments in Russia https://twitter.com/spectatorindex/status/150023911662537932...

Visa. Its everywhere you want to be.

Re: MasterCard suspends all services in Russia

#248

Post by colesantiago »

kayamon wrote: post #217
colesantiago wrote: post #114

Earlier quoted context omitted.

> 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.

> 'Cryptocurrencies' should not be used at all. Why not? Are you allergic to them or something? Why can't someone transfer money using crypto if it benefits them to do so?

It is not money.

Try sending me money using a coin that is regulated, not volatile and rife with scams and does not contribute to burning up the planet.

Re: MasterCard suspends all services in Russia

#249

Post by [deleted] »

throw-ru-938 wrote: post #74
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.

Getting hard currency in Russia right now is a long and difficult process, there's a massive shortage.

[deleted]

Re: MasterCard suspends all services in Russia

#250

Post by quotha »

alkonaut wrote: post #57
3np wrote: post #12

Earlier quoted context omitted.

So individuals who recently left Russia out of fear for the regime and may be in very vulnerable positions have potentially unexpectedly lost access to their funds until they can sort that out... Meanwhile, for The Real Russians, business as usual. This looks like theatre hurting the wrong people.

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.

Yes, imagine, you only need to remember 12 words!
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