Full_node on Nostr: Such a failure of a payment method. Maybe it’s good for the spender? Account ...
Such a failure of a payment method.
Maybe it’s good for the spender?
Account numbers listed on the device that can be read by anyone. Now these numbers broadcast to any skimmer that comes within reach. Anyone at any time can pull a transaction from your account.
Surely it’s good for the merchant?
3% and up fees. Takes a month or two to receive payments. The dreaded charge backs.
Who is it good for?
Oh yeah, them..
Insufficient funds fee, late payment fee. Interest on balances. Compounding interest. Variable interest rates. Interest rates ramp up for late payments.
I’m amazed how boomers got duped into falling for these things long enough for them to entrench such a foothold in society. No other product is this broken and yet nearly everyone uses them.
Bitcoin, hurry up and squash the banks.
Maybe it’s good for the spender?
Account numbers listed on the device that can be read by anyone. Now these numbers broadcast to any skimmer that comes within reach. Anyone at any time can pull a transaction from your account.
Surely it’s good for the merchant?
3% and up fees. Takes a month or two to receive payments. The dreaded charge backs.
Who is it good for?
Oh yeah, them..
Insufficient funds fee, late payment fee. Interest on balances. Compounding interest. Variable interest rates. Interest rates ramp up for late payments.
I’m amazed how boomers got duped into falling for these things long enough for them to entrench such a foothold in society. No other product is this broken and yet nearly everyone uses them.
Bitcoin, hurry up and squash the banks.