MasterCard suspends all services in Russia • Hacker News Board

Re: MasterCard suspends all services in Russia

#31

Post by ProjectArcturis » Sat, Mar 05, 2022, 11:04 PM UTC

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...

Russians still have the freedom to transact in cash, and with domestic transfer companies. They do not have the right to have their transactions fulfilled by third-party facilitators.

Re: MasterCard suspends all services in Russia

#32

Post by ur-whale » Sat, Mar 05, 2022, 11:04 PM UTC

grandpoobah wrote: post #20

Call me insane, but this feels insane. It would be one thing if Visa/Mastercard were being forced to do this, but for them to take it upon themselves to "pick a side" during a global conflict feels really wrong.

> but for them to take it upon themselves

they're not.

they do what they're told.

Re: MasterCard suspends all services in Russia

#33

Post by conk » Sat, Mar 05, 2022, 11:06 PM UTC

grandpoobah wrote: post #20

Call me insane, but this feels insane. It would be one thing if Visa/Mastercard were being forced to do this, but for them to take it upon themselves to "pick a side" during a global conflict feels really wrong.

It’s not picking sides it’s a result of economic sanctions. How are financial transactions going to clear when Visa/MC can’t transfer money in/out of Russia.

Re: MasterCard suspends all services in Russia

#34

Post by qznc » Sat, Mar 05, 2022, 11:06 PM UTC

unpopularq88 wrote: post #25

ls15 wrote: post #18

Earlier quoted context omitted.

What else are they supposed to do?

Quoted post unavailable.

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

Re: MasterCard suspends all services in Russia

#35

Post by youngNed » Sat, Mar 05, 2022, 11:06 PM UTC

grandpoobah wrote: post #20

Call me insane, but this feels insane. It would be one thing if Visa/Mastercard were being forced to do this, but for them to take it upon themselves to "pick a side" during a global conflict feels really wrong.

I don't think you are insane, I do however think you should probably read up on what 'sanctions' means

Re: MasterCard suspends all services in Russia

#36

Post by toyg » Sat, Mar 05, 2022, 11:07 PM UTC

grandpoobah wrote: post #20

Call me insane, but this feels insane. It would be one thing if Visa/Mastercard were being forced to do this, but for them to take it upon themselves to "pick a side" during a global conflict feels really wrong.

They picked sides in the past too, ask one Mr. Assange how he knows.

Re: MasterCard suspends all services in Russia

#37

Post by reverend_gonzo » Sat, Mar 05, 2022, 11:08 PM UTC

unpopularq88 wrote: post #25

ls15 wrote: post #18

Earlier quoted context omitted.

What else are they supposed to do?

Quoted post unavailable.

I’d rather die a free man than live 100 years under a dictatorship.

Re: MasterCard suspends all services in Russia

#38

Post by sonicggg » Sat, Mar 05, 2022, 11:08 PM UTC

This seems like a PR play. What's the end goal of these sanctions? Haven't seen them able to topple governments in Cuba, Venezuela, Iran, North Korea, etc. They are even less likely to work with Russia.

Re: MasterCard suspends all services in Russia

#39

Post by cm2187 » Sat, Mar 05, 2022, 11:09 PM UTC

rootusrootus wrote: post #24

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...

Hasn't really been a problem for other countries to avoid this problem, so I'm not sure how worried I ought to be. Like so many things, I'll worry about trends when there is a trend.

It has been a problem. There is pretty much a duopoly, look at the difficulties you face if they disapprove your business or politics. More competition is long overdue.

But we are testing modern finance by weaponising the financial system. The most problematic move I think has been freezing the central bank's reserve. It might achieve the short term gain of hurting Russia, but what about the long term impact on the trust in holding foreign currencies?

Re: MasterCard suspends all services in Russia

#40

Post by pmalynin » Sat, Mar 05, 2022, 11:10 PM UTC

grandpoobah wrote: post #20

Call me insane, but this feels insane. It would be one thing if Visa/Mastercard were being forced to do this, but for them to take it upon themselves to "pick a side" during a global conflict feels really wrong.

No, its not insane for them to do this -- in fact the opposite. Every person has to make the decision for themselves in the end, this goes all the way to presidents and political leaders. You will either stand by, profit and watch, as a neo-Nazi regime rapes a country -- or you will take a stance. When this is all over people will be asking: Where were you and what did you do when the war was happening?