Forget Google - It's time to break up the payment processing duopoly of Visa and MasterCard

submitted by magnora7 from medium.com

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[–]philosopher 38 insightful - 4 fun38 insightful - 3 fun39 insightful - 4 fun -  (3 children)

I don't use Gab, but I heard they lost all ability to take payment this week, when Visa shut them down. The same happened to Wikileaks a while back. I don't think a small number of corporations should decide who I can give my money to or not.

[–]Pendergreens 5 insightful - 1 fun5 insightful - 0 fun6 insightful - 1 fun -  (2 children)

A great reason to start buying some cryptocurrency and using that instead for some stuff.

[–]Slutbuster 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (1 child)

Until you need to cash out any realistic amount - then you have to go back to the payment processors.

[–]apoliticalinactivist 1 insightful - 1 fun1 insightful - 0 fun2 insightful - 1 fun -  (0 children)

It's the chicken-egg problem, people don't use because they want to "cash out" to local currency.

If you use and it takes off, it replaces all local currency. It's a long way off, but no reason to not keep around your $20 to spend in order to support the principle/tech.