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  • Showing only topics with the tag "banking". Back to normal view
    1. Banking regulations and collateral damage: Tweetstorm by patio11

      @Patrick McKenzie: Unfortunately the way this is usually implemented is "X stamps and we fire you as a customer."In much of the world, banks are not obligated to continue doing business with people who cause them lots of headaches or cost, and the headaches/cost are not evenly distributed. https://t.co/tufbFyRitG

      6 votes
    2. I just visited a retail marijuana store that uses Litecoin to accept debit cards

      After all this time watching cryptocurrency from a distance, I have finally seen a real world use case. Marijuana is legal in this US state, however national banks are not allowed to service the...

      After all this time watching cryptocurrency from a distance, I have finally seen a real world use case.

      Marijuana is legal in this US state, however national banks are not allowed to service the marijuana industry due to federal law. Therefore all card processing is not available to the retail outlets. It’s only cash transactions at the retail level.

      Until today. Today I was asked if I wanted to pay with a debit card. When I asked how, he said they used litecoin. So I imagine that the card is being run by a company which then converts it to litecoin to pay the merchant. Anyone have any clue on what that might cost the merchant as far as percentage?

      I thought I would share this because after hearing all hype rollercoaster regarding cryptocurrency, I have finally seen a somewhat legitimate use of it in the real world.

      Do you see any other use cases of crypto out in the wild these days?

      13 votes