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MasterCard suspends all services in Russia

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Re: MasterCard suspends all services in Russia

#341

Post by [deleted] »

Symbiote wrote: post #328
koonsolo wrote: post #317

Earlier quoted context omitted.

It's funny how people here on HN are always on about "it's a solution looking for a problem", etc. And then others try explain the use-cases, and they just try to refute it with all kinds of stupid arguments. Now it's pretty clear how crypto can have a use case (as some of us already knew and were hammering on about it for a long time). So can we set a new baseline here, and agree that crypto has a use-case? Or are y…

I think everyone here recognises the criminal use cases of cryptocurrency (drugs, money laundering etc). Evading sanctions is just another type of illegal trade.

[deleted]

Re: MasterCard suspends all services in Russia

#342

Post by koonsolo »

Symbiote wrote: post #328
koonsolo wrote: post #317

Earlier quoted context omitted.

It's funny how people here on HN are always on about "it's a solution looking for a problem", etc. And then others try explain the use-cases, and they just try to refute it with all kinds of stupid arguments. Now it's pretty clear how crypto can have a use case (as some of us already knew and were hammering on about it for a long time). So can we set a new baseline here, and agree that crypto has a use-case? Or are y…

I think everyone here recognises the criminal use cases of cryptocurrency (drugs, money laundering etc). Evading sanctions is just another type of illegal trade.

Some claim this is a bad use-case since it's a public ledger and everything can be traced.

See, every use-case can be easily taken down.

If I was in Russia, I would be very glad to own some crypto right now. But hey, you do you.

Re: MasterCard suspends all services in Russia

#343

Post by olologin »

tananaev wrote: post #4
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...

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.

Yes, all cards issues by russian banks (Mir, MasterCard, Visa) work inside of russia, because in 2014 Russian central bank forced all payment systems to work through processing center in Moscow.

Besides, Russian banks are already promoting new cards - "Mir + UnionPay", where Union Pay is Chinese alternative to MC and Visa and it should be possible to use new Mir cards everywhere abroad where UnionPay is accepted.

Re: MasterCard suspends all services in Russia

#344

Post by akimball »

colesantiago wrote: post #162
lekevicius wrote: post #147

Earlier quoted context omitted.

[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...

While you may know this, I know otherwise. Time will tell which of us has the more predictive knowledge.

Re: MasterCard suspends all services in Russia

#345

Post by tomp »

Symbiote wrote: post #328
koonsolo wrote: post #317

Earlier quoted context omitted.

It's funny how people here on HN are always on about "it's a solution looking for a problem", etc. And then others try explain the use-cases, and they just try to refute it with all kinds of stupid arguments. Now it's pretty clear how crypto can have a use case (as some of us already knew and were hammering on about it for a long time). So can we set a new baseline here, and agree that crypto has a use-case? Or are y…

I think everyone here recognises the criminal use cases of cryptocurrency (drugs, money laundering etc). Evading sanctions is just another type of illegal trade.

Crypto is for people who don’t outsource their morality to governments or other authorities.

Re: MasterCard suspends all services in Russia

#346

Post by akimball »

disiplus wrote: post #332
duckmysick wrote: post #329

Earlier quoted context omitted.

This comment chain mentioned a Russian person living abroad. Supposedly they also pay taxes abroad, not in Russia, yet they are still affected.

they paid taxes on the money that is in the russian bank account still. the money that i have in my debit account comes from my salary. the taxes are paid before the net part hits my bank account.

Many other people experience taxation very differently than do you. Taxation is implemented in many ways.

Re: MasterCard suspends all services in Russia

#347

Post by tomp »

zamalek wrote: post #56
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...

This is analogy is an over-vilification of the Russian people, but I do think it helps bring the intricacies of this into perspective: Imagine there's one big bully in a schoolyard playground, alongside the one kid who is singled out. All the other kids (freely) choose to follow the bullies' lead and, at the very best, join in by ostracizing the victim. Who is in the wrong in that scenario? The best thing Russian peo…

This is both morally (are Americans responsible for Bush’s & Obama’s wars? Should they stop paying taxes? They’re clearly much richer than Russians) and factually (North Korea hasn’t collapsed yet) wrong.

Re: MasterCard suspends all services in Russia

#348

Post by _djo_ »

tsol wrote: post #272
323 wrote: post #128

Earlier quoted context omitted.

Yes, in a few days Putin created a cartoonish evil villain image for himself like in B-category movies: invading a country, threatening the world with nuclear war, shooting at nuclear power plants, threatening prison for anyone of his subjects who dares criticize his actions.

There are dictators doing crazy things all around the world, you just hear about this one more.

This one poses the most danger to us all, far more than tin-pot dictators elsewhere. It’s right to be prioritising this.

Re: MasterCard suspends all services in Russia

#350

Post by hnthrway »

JSavageOne wrote: post #189
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…

Although I strongly despise Russia's (Putin's) war and agree that they need to be punished, I feel sorry for the non-oligarch Russians abroad in foreign countries who will suddenly be unable to pay with their Russian cards, as well as foreigners in Russia who can no longer use their credit cards. Ultimately the legitimacy of these sanctions come down to how effective they will be in influencing a favorable outcome -…

If they don't work they are one big, tragic fuckup that have pushed Russia and Russians further away from us and set us up for war
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