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RichFelker's profile
Rich Felker
Rich Felker
Rich Felker
@RichFelker

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Rich Felker

@RichFelker

Yeah, I do @musllibc, FOSS & infosec stuff. But now is not the time for a mostly-/only-tech Twitter feed.

musl-libc.org
Joined March 2014

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    1. Matthew Green‏ @matthew_d_green 26 Dec 2017

      Visa is the absolute worst. They’re terrible. Let me put it another way: Visa is so awful *and hard to dislodge* that people developed Bitcoin in an effort to get rid of them. 2/n

      14 replies 89 retweets 362 likes
      Show this thread
    2. Matthew Green‏ @matthew_d_green 26 Dec 2017

      That’s right. One of the most important functions of society has been poorly implemented that people *had to effectively re-invent cash* in an effort to replace them. 3/n

      7 replies 35 retweets 197 likes
      Show this thread
    3. Matthew Green‏ @matthew_d_green 26 Dec 2017

      If you like numbers, there are better ones than transaction throughout. Take profit margin. This company, which does nothing interesting, routinely brings in 45-55% profit margins. That’s highway robbery. 4/n

      19 replies 56 retweets 331 likes
      Show this thread
    4. Matthew Green‏ @matthew_d_green 26 Dec 2017

      For this service, which is trivial to provide, the card industry charges both customers and merchants enormous fees. That 3% fee infests everything we do. 5/n

      24 replies 39 retweets 232 likes
      Show this thread
    5. Matthew Green‏ @matthew_d_green 26 Dec 2017

      All of the “interesting” non-cryptocurrency payment startups this year just add a premium (and their own fraud layer) on top of the huge fees from the card industry. 6/n

      5 replies 31 retweets 195 likes
      Show this thread
    6. Matthew Green‏ @matthew_d_green 26 Dec 2017

      Largely to offer “innovations” that any kind of competitive card industry would have had from the beginning, like the ability to easily start a store, or send money to your friends. 7/n

      1 reply 20 retweets 130 likes
      Show this thread
    7. Matthew Green‏ @matthew_d_green 26 Dec 2017

      The card industry routinely launches extra-legal financial blockades against legal operations that the government just dislikes. 8/n

      10 replies 32 retweets 170 likes
      Show this thread
    8. Matthew Green‏ @matthew_d_green 26 Dec 2017

      This past couple of years the industry (finally) rolled out chip cards, but did such a terrible job that the checkout lines in *the Visa corporate cafeteria* got too long. 9/n

      21 replies 46 retweets 243 likes
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    9. Matthew Green‏ @matthew_d_green 26 Dec 2017

      (That’s right, the Visa executives were so out of touch that their first realization they’d screwed up was when their own cafeteria had lines out the door.) 10/n

      6 replies 40 retweets 233 likes
      Show this thread
    10. Matthew Green‏ @matthew_d_green 26 Dec 2017

      Anyway, to summarize. I have no idea if cryptocurrencies will ever scale to payments. But to pretend there’s no need for something like this is to miss a pretty giant, smelly elephant in the room. 11/11

      45 replies 125 retweets 593 likes
      Show this thread
      Rich Felker‏ @RichFelker 26 Dec 2017
      Replying to @matthew_d_green

      For some very very loose sense of "like this"...

      7:58 PM - 26 Dec 2017
      0 replies 0 retweets 0 likes

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