Payza, Paypal, and Giving up Control

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botipton
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Re: Payza, Paypal, and Giving up Control

Post by botipton » Wed Nov 22, 2017 5:18 pm

TimLinden wrote:
Thu Nov 16, 2017 1:56 am
yeah I am working on accepting bitcoin cash at our sites. if it works I'll be making a way for te owners to be able to do it easily.
I hope you get it worked out.

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Re: Payza, Paypal, and Giving up Control

Post by gadrian » Thu Nov 23, 2017 8:40 am

Allow me to point out that a business which accepts crypto-currency directly as a payment solution needs to have a "know your customer" process in place to comply with anti-money laundering regulations. This includes stuff like asking for copy of the drivers license, utilities bill etc. and probably more staff to handle it.

I know it became a practice to do it without the whole "know your customer" process, but it might be risky.
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Re: Payza, Paypal, and Giving up Control

Post by TimLinden » Sun Nov 26, 2017 7:42 pm

Nah there is no need to. That is only applicable when converting from/to cash.

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Re: Payza, Paypal, and Giving up Control

Post by gadrian » Mon Nov 27, 2017 7:44 am

I like the decentralized structure of bitcoin and hopefully it will remain the same. Although its comparison in this regard with the internet is forced, because the internet came on an empty ground, while blockchain tries to take a slice of a very dominant position of the fiat currencies, where centralization is a rule. We will see how that goes.

About anonymous transactions on blockchain, that is a problem almost anywhere, so they won't be accepted without a filter, and that is now generally provided by the regulated payment processors (or exchangers) or, when the case, in other instances.
TimLinden wrote:
Sun Nov 26, 2017 7:42 pm
Nah there is no need to. That is only applicable when converting from/to cash.
If a business accepts crypto-currrencies and makes sure the withdrawals are also restricted to crypto-currrencies for those who use them, it shouldn't be a problem, otherwise you bring into the fiat circuit untraceable funds. The alternative is your own "know your customer" process to bypass the regulated payment processors.
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Re: Payza, Paypal, and Giving up Control

Post by hotbobs » Mon Nov 27, 2017 12:28 pm

TimLinden wrote:
Thu Nov 16, 2017 1:29 am
I'm really tired of these guys having no accountability. Seeing people get banned from them for no reason at all and poof their business is gone.
they are accountable Tim... but up the ladder not down.

I'm sure paypal hasnt looked to do the things they have done over the years. but their masters are the credit card companies who set the rules by which paypal have to play.
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