61–70 of 92 posts
And how does this play with current financial legislation. Do they have a banking license?
And where is the blockchain stored?
Otherwise great news; I am looking forward to something that probably has a very good end-user experience compared to what else is out there.
Can not open in Firefox :( but works fine with Chrome. > ReferenceError: requireLazy is not defined
[0]: https://addons.mozilla.org/en-US/firefox/addon/facebook-cont...
Earlier quoted context omitted.
Alipay appears to be available in Europe now, as the UEFA Nations League tickets could be bought using either alipay or card. source: I bought Nations League tickets.
Did you pay using Alipay? If so, are you a Chinese citizen? I'm asking because I have never been able to use Alipay at retailers or web sites outside China. When I tried to pay with Alipay at Uniqlo in Japan, the transaction failed and I received an SMS explaining it was because I don't have a Chinese national ID card.
Earlier quoted context omitted.
>Do not outlaw cash As much as I agree with you, cash is unfortunately already well on its way out: in many EU countries (Italy, France), cash transactions above 1.5k euros are illegal. For example, buying a car cash is illegal. The US won't be far behind, imho. For small transactions (eg buying a loaf of bread), something flipped in small business owners minds: they used to hate plastic for small stuff, and I can in…
I’m not disagreeing, but have you got a reference for your first paragraph?
What's the use case for it? It looks like the point is to send money from people to people easily. But how about businesses? Currently I can pay with Contactless in shops, and on online services, paying by debit/credit card is straightforward. So I'm not seeing exactly what it will be used for.
More data mining?
Well I guess at this point they can pretty much force people to use the currency (by not giving any other payment options) since people are locked into their platform and won't leave no matter what Facebook do.
What could be a bigger achievement for an ad company than being able to track all transactions between its users and customers? That's why your payment account will be associated with your social account. What Facebook is doing here, it's providing a lower-margin (payment processing) service for free to grow its higher-margin (ad targeting) business.
Earlier quoted context omitted.
Also cash is the only thing that works if your system gets unfair in some way. It's the only thing that allows a hobo to stay in touch with society, paying in a gay bar without trace, setup a political group that the state would deem immoral, experiment with banned drugs, buy censored books and journals, etc If you like democracy, you need a small, but resiliant grey zone. You need to allow a few people to take the r…
>Do not outlaw cash As much as I agree with you, cash is unfortunately already well on its way out: in many EU countries (Italy, France), cash transactions above 1.5k euros are illegal. For example, buying a car cash is illegal. The US won't be far behind, imho. For small transactions (eg buying a loaf of bread), something flipped in small business owners minds: they used to hate plastic for small stuff, and I can in…
> Imagine if cash became digital. Been there, in China, with Alipay. Absolutely no way for an EU person to pay with it: doesn't accept European phone number for sign up and since the end of 2018 one can not get a proper Chinese SIM with a passport. Don't touch cash. That's the only fallback we have for outages, when someone is without data connection (ghasp!) or for scenarios where politics or decisions make it impos…
Last that I was in China I used my standard Danish phone subscription from 3. Fast, flat rate data and full access to Google etc. in mainland China. https://www.3.dk/abonnementer/fordele/3likehome/
Earlier quoted context omitted.
Last that I was in China I used my standard Danish phone subscription from 3. Fast, flat rate data and full access to Google etc. in mainland China. https://www.3.dk/abonnementer/fordele/3likehome/
This is orthogonal. Yes, my UK giffgaff worked, but UK - or Hungarian - phone numbers are not accepted by the Alipay app for registration.
Earlier quoted context omitted.
How is that different from transferring money through a bank? I can understand the benefit of this from the standpoint that it will be essentially a global currency, which will reduce transfer times and just generally make it easier to send money, however I don't understand why a blockchain is involved. We already have similar solutions (Paypal, Transferwise etc), is blockchain just a way to market this thing?
A transatlantic bank transfer will cost you over 30 euros in correspondent bank fees, in addition to the fees your bank and their bank charge. And you'll get no receipt for that, because banks suck.
Not will, but can. I did a transatlantic SWIFT payment recently and it cost me $9 in correspondent bank fees. I did another one and it cost me $0 in fees. I did another and it cost $18.
In each instance, I was able to get a SWIFT trace by asking the emitting and receiving banks to provide this. I didn't get a receipt for the SWIFT fees correspondent banks charged, but I did get receipts for the bank fees at either end.
Banks do suck, and the payment networks also suck, but sometimes they can suck less.