This is interesting info: https://www.theverge.com/2018/ 2/15/17017374/coinbase-cryptocurrency-bitcoin-ether-unauthorized-charges I ended up here: https://twitter.com/coinbase/status/964316171934711808
This could make sense, it can be just an innocent technical interference. However the the crypto currencies would in general "take the cheese" of the credit card companies (VISA, Mastercard, Amex, ...) in the long run. Therefore it could be their interest to sabotage it if they can. They skim off "only" ~3% off of credit card transactions, but that's so much money in the end that it's even hard to fathom. Now, someone mentioned cash back cards. As a customer you don't directly face that 3%. The merchant faces it, and when you go to a gas station here in California, if you pay by credit card the gas is at least 10 cents more expensive than cash or debit (I don't remember of such in Tennessee, so when I first faced this I was like WTF?). Well, it makes a lot of sense from the merchant's point of view. They don't want to swallow that 3%, so they defer it to you. The cash-back programs are basically tools to make credit cards more appealing so the purchasing power put more pressure on the merchants (the other reason for cash backs are simple market race between the providers). Amex is often more asshole with smaller merchants and can have higher rate than 3%. I often play with the dream to own a credit card company, which would charge 1% instead of 3%. That would be still tremendous amount of money (surely enough for everything needed to keep an infrastructure running, 3% is just an agreement across all of those institutes), but obviously I would not live long, because it's too much money for VISA, MasterCard, Amex, ... (all charging 3%) to loose. I'm pretty sure I'd die in a surprise freak accident for some reason. That's all for conspiration theories. Now, crypto currency is not without price, it has transaction price as well which is not even a percentage of the sale value, and can be ridiculously high if someone wants a transaction to finish soon, or the sale price is low. I hope I'm not a luddite when I said that BitCoin is a "dinosaur". Multiple ways to make it perform slightly better, still very far from the volume the bigs can handle... I'm truly waiting for a next generation currency which can be 100x better in all aspects, learning form the past. On Thu, Feb 15, 2018 at 6:18 PM, Greg Donald <[email protected]> wrote: > On Thu, Feb 15, 2018 at 6:57 PM, Richard Thomas <[email protected]> > wrote: > > I never thought I'd see such techno-luddism come from this mailing list. > > Think again! > > > I'm > > not going to do any kind of pitch but if you're interested in tech to any > > degree, > > Nope, not even a little. > > > you owe it to yourself to check out what's happening in the > > crypto-currency space (and I don't just mean all the bad BS). > > > > rich > > https://www.theverge.com/2018/2/15/17017374/coinbase- > cryptocurrency-bitcoin-ether-unauthorized-charges > > https://www.bleepingcomputer.com/news/cryptocurrency/loopx- > startup-pulls-ico-exit-scam-and-disappears-with-4-5-million/ > > You mean how people are getting ripped off, that 'bad BS'? > > Not the venture capitalists you're looking for. > > > -- > Greg Donald > > -- > -- > You received this message because you are subscribed to the Google Groups > "NLUG" group. > To post to this group, send email to [email protected] > To unsubscribe from this group, send email to nlug-talk+unsubscribe@ > googlegroups.com > For more options, visit this group at http://groups.google.com/ > group/nlug-talk?hl=en > > --- > You received this message because you are subscribed to the Google Groups > "NLUG" group. > To unsubscribe from this group and stop receiving emails from it, send an > email to [email protected]. > For more options, visit https://groups.google.com/d/optout. > -- -- You received this message because you are subscribed to the Google Groups "NLUG" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/nlug-talk?hl=en --- You received this message because you are subscribed to the Google Groups "NLUG" group. To unsubscribe from this group and stop receiving emails from it, send an email to [email protected]. For more options, visit https://groups.google.com/d/optout.
