Gumroad, an e-commerce company for creators, updated its rules to more strictly limit NSFW content, citing restrictions from payment processors like Stripe and PayPal.
And people continue to mock cryptocurrencies.
They’re still pretty bad at being currency. Transaction fees are still too high and it’s still pretty slow and/or complicated
Is it? The ATMs have been all over the place for half a decade at this point.
As for fees it cost me 3 cents to send a $50 Litecoin transaction a few days ago. If I did that with Bitcoin it would have cost me $8 in transaction fees so you’re right there.
Now days there’s a coin for every purpose.
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Bitcoin = gold bars
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Litecoin = mundane transactions
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Monero = digital cash
Crypto has been around for 15 years already. Time flys.
all over the place
Speak for your own location.
Also, “crypto works as a functional currency, which can be demonstrated by how you need to sell it for cash in order actually buy anything with it” isn’t the argument you think it is.
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Fees are high in Bitcoin but there are other options that are low fees/faster (still too complex for most people imo
I see cryptocurrency ATMs in various random places around town, they’re evidently not too complex for common usage. I think this is a bit of a chicken and egg thing, people would figure them out if sites like Gumroad actually used them. Porn is a powerful motivator for human ingenuity.
And yeah, Bitcoin’s fees are silly and I wouldn’t recommend it for anyone wanting to use it as a currency. The Bitcoin community long ago decided they wanted to be “digital gold” and are firmly dedicated to making the token unusable for anything other than that. For general currency usage I’d recommend looking into stabletokens like USDC or DAI, they run on the Ethereum blockchain instead.
I see the occasional Bitcoin ATM but they seem to be Bitcoin only, and they have their own high fees. I agree with the stablecoins point, though. Although ethereum has worse fees than Bitcoin these days there are ofc L2 options like those listed at https://l2beat.com
Crypto currency is gambling like nfts or anything else. It only has value as a hot potato.
What potato stays hot for 15 years?
And people continue to mock cryptocurrencies.
And rightfully so. They’ve demonstrated their lack of worth as an actual medium of trade, and have wasted an alarming amount of electricity, while pumping an unconscionable amount of carbon into the atmosphere for jack-fucking-shit.
Ethereum, the number-two cryptocurrency, has been using proof-of-stake consensus since 2022. As a result it no longer uses significant amounts of electricity. Bitcoin’s still stuck with proof-of-work, but if you want to mock cryptocurrency as a whole you need to update your talking points.
and will continue until there is security (state backing) in the exchanges.
And that will only happen when the politicians get thier kickback.
Yes, because they are jokes
If I commission a piece of art, and they refuse to deliver what is my recourse?
If an honest artist is issuing a refund, and adds an extra 0 what is their recourse?
There are distributed marketplace applications that can handle those matters in various ways. You’d need to be specific about which one you’re using.
Crypto would be great if the idea wasn’t “zero-trust money exchange”. That is the root of the problems with high payment fees, super slow transaction throughput and excessive resource (storage space, energy) consumption
But that feature is the whole point. The alternative is Paypal et al, which this very article points out the problem with.
Also, those problems are being addressed by the more modern cryptocurrencies. Bitcoin has fallen far behind the technical curve, I wouldn’t bother with it frankly.
We mock crypto because anyone who has it wants to hoard it as an “investment”. Nobody wants to use it as a currency.
I tried for years, buying and selling goods with crypto. I never purchased any crypto, I just earned it. I tried to talk others into the same. You need to spend to have value… they just laugh and day hold your bags tight with diamond hands.
Yeah, it’s never going to work.
It’s probably not payment processors as such that care, but rather countries. Payment processors are just a convenient lever. Payment processors are vulnerable to national pressure, and random commercial website is vulnerable to pressure from payment processors.
Payment processors do care, but not for the reasons people seem to assume. NSFW purchases have disproportionately high rates of buyer remorse and charge reversals, which understandably make them much less desirable for anyone to deal with.
Prudishness may also play a part, but the chargeback rate is a major factor.
I wonder how often Visa and Mastercard had to deal with those problems up to the early 2000s, with nearly every porn site being paid access and none of them accepting Paypal, as far as I remember.
The industry found another way through a company called CCBill, that essentially became the adult industry’s preferred payment gateway. They took a lot of the heat off the unsavoriness of it.
Can I download the videos for the class I signed up for and actually watch them when I have no cell signal yet? No? Cool. Cool. Banning porn was important too I guess.
wtf
(no, I’m not asking to be able to export content. I’m talking about using their paperweight of an app)
Oh, it says Gumroad. I thought it said…
Well this is going to be a problem, since they’re also getting chased off Patreon.