Bitcoin Forum

 http://www.theblaze.com/stories/2014/04/27/how-jp-morgan-chase-has-managed-to-infuriate-the-entire-porn-industry/

Run, run ... banks, you will crash before the end of this year. :P


http://assets.sbnation.com/assets/1169732/coach_1_medium.jpg

feels to me like an attack on a group of people for no good reason,  I think the accounts should be reinstated and the bank fined.

This is outrageous. And what next? Maybe banks will be building their own churches now where they will be telling that people are bad and morally bankrupt.
But what bothers me even more. There is poll below that article and 1/3 of people voted that bank is right to close their acc... Really?

And that is another reason why "you shoud use BITCOIN!"
:)
 hehehe

No one will froze your money :P
Try to froze torrents :P
Same difficult or even higher ;P

So far this seems to be restricted to one or two banks. So the actors are probably going to close their accounts and open one at some other bank. I am still confused about the reason. Perhaps some religious nut got the top job at JP Morgan?

That's what most people would do, but unfortunately American politics in particular have deep ties to religion and yes, I think this is to do with religion, you can bet its someone in the government who wants the support of the religious crazies in America who hate being open minded.

Normally when progress is made, the role played by religion gets less and less important. In the case of the US, it seems to be the reverse. As time progresses, the religious nuts are getting more and more dominant.

             OPERATION CHOKE POINT



It’s called Operation Choke Point, and it has nothing to do with deep-throating.

Instead, it’s a targeted effort to shut down as many as 30 separate industries by making it impossible for them to access banking services.

In a Wall Street Journal op-ed Thursday, American Bankers Association CEO Frank Keating wrote that the Justice Department is “telling bankers to behave like policemen and judges.”

“Operation Choke Point is asking banks to identify customers who may be breaking the law or simply doing something government officials don’t like,” Keating wrote. “Banks must then ‘choke off’ those customers’ access to financial services, shutting down their accounts.”

Keating said the highly secretive operation was launched in early 2013. That’s when porn stars started to complain to the media that their bank accounts were being shut down without explanation.

https://news.vice.com/articles/is-the-doj-forcing-banks-to-terminate-the-accounts-of-porn-stars?trk_source=homepage-in-the-news


--------------------------------------------------------------------------------------------------
The DOJ believes they are helping (who?) by blocking those porn stars while helping covering up the gun running operation called "fast and furious". Amazing.

OK.... so the porn industry is just one of the 30 different sectors. I wonder which are the remaining industries.

I don't know if it is about religion but these days it wouldn't even surprise me if it were.

Thank you very much for sharing that information.  That seems like the Justice Department is breaking the law to me.  This may be the kind of topic that deserves more attention.  Feels like the Government is targeting folks that society may or may not deem desirable to openly defend their rights.   

I really don't get that. This government is liberal as we all know. So it is not about defending against vice or a religious moral they are after. My guess: of all of this is about a test drive to control private citizen and their private enterprise and the flow of money. It is easier to target a group of people that is on the "fringe" everyone would believe they have too much cash and are not paying their taxes.

I honestly tend to agree or maybe this is what happens if you don't let the government take total control over the industry.  It is really very hard to say what it is all about but we all know it is wrong.

You don't need to like if your daughter wants to be a future pornstar or not. If you agree everything in the adult industry is wrong and the DOJ should target them, then don't cry when they come after you because you are next on the "new fringe" list, defined by them, even if you are breaking no laws.

I'm not sure if your making an arguement I agree with or if your trying to disagree with me?  Sounds to me like your not defending he DOJ witch is the same thing I'm getting at.

Agreeing with you. Making a general statement. Sorry for the confusion.

even after this pornhub is planting 1 tree for every 100 videos viewed on their website :D

They closed her personal bank account, the one she NEVER used for her porn business, even though she has been out of porn for a while according to her.

They can open bank account in Russia :D

That means 10 million tress every month or 120 million every year. Oh god... soon they will run out of space to plant trees. May be they could try the Sahara desert and Antarctica.

Antartica, maybe. The people living in the Sahara desert are not fans (not officialy anyway) of the porn industry :)

Precious Metals?
I've been contacted by two banks in the last few months and informed of their decision to close my company account with them.

The bank doesn't say why they are closing the account.  They say they don't have to tell me why, and that if I closed the account I wouldn't have to tell them why either.

Or maybe they looked over at me in the locker room and assumed I am a porn star?

Not really, no.

Well... to make things 100% sure, could you please do a quick Google search and find whether any of your sex videos are out there in the net?  ;D Can't trust anyone these days.  ;D

Not enough to make me a "star", and certainly haven't made a deposit in a bank related to anything like that.

Makes me wonder what the banks were thinking with this move.  It only looks bad if you ask me.  Not sure this was a wise move unless is was in some way strategic.

Sometimes I find a clip of something I really like on a porn site and think "yeah I'd pay for that" but I'm not about to give my credit card to subscribe to a site with a lengthy and difficult account closure process. I just want to empty my balls to whatever kink it is I'm looking at now. Then I watch something else, my nuts are empty and I don't care any more.

Bitcoin porn payments need to be instant for this to work. 1 day access on receipt of transaction, someone might score a double-spend but who cares? It's a flow of money.

Never pay for porn. Instead, note down the name of the video, and do a quick torrent search in 1337x.org or Piratebay. 99% of the time the torrents are available. If that is not the case, then there are other options.

Maybe someone is advising the banks, and this is part of why they don't want the customers? 
Or it could be that there are some religious sovereign funds that are large owners and are pushing policy from above.
Didn't Saud buy another 10% of Citibank and some others when they were in jeopardy?

Bitcoin worl is already associated with drugs and guns. relation to the industry for adults perfectly complement the list

Need to add a bit more rock and roll...

the porn industry is just one of the 30 different sectors. I wonder which are the remaining industries.

from....http://www.fdic.gov/regulations/examinations/supervisory/insights/sisum11/managing.html

Some merchant categories that have been associated with high-risk activity include, but are not limited to:

    Ammunition Sales
    Cable Box De-scramblers
    Coin Dealers
    Credit Card Schemes
    Credit Repair Services
    Dating Services
    Debt Consolidation Scams
    Drug Paraphernalia
    Escort Services
    Firearms Sales
    Fireworks Sales
    Get Rich Products
    Government Grants
    Home-Based Charities
    Life-Time Guarantees
    Life-Time Memberships
    Lottery Sales
    Mailing Lists/Personal Info
    Money Transfer Networks
    On-line Gambling
    PayDay Loans
    Pharmaceutical Sales
    Ponzi Schemes
    Pornography
    Pyramid-Type Sales
    Racist Materials
    Surveillance Equipment
    Telemarketing
    Tobacco Sales
    Travel Clubs

No.  This is top down from Holder's lawless DOJ.

Sad to see Ammunition Sales, Firearms Sales, Lottery Sales.etc in the list. Most of the time, these businesses are perfectly legal, and bring in the much needed tax revenue for the government.

But the fact that your comment is true for many of the categories.....tells you something...

I've been noticed from BofA on the New Liberty Dollar LLC coin dealership...
Accounts will be closed by the bank.  No explanation is given.

Amazing. Bankers are one of the lower forms of life on the planet but they have the gall to besmirch a porn actress’s line of work! They(bankers) engage in economic rape of many of their customers but are worried about their reputations for having checking accounts from people in the porn industry. Bizarre, IMO.

In Europe, some banks started blocking transfers to Bitstamp, MtGox and other BTC-related companies for "safety reasons" (ha!)

In any case, I believe with this move they are only shooting their own legs. It is perfectly possible to operate a business without using their services, and after a while people who flip over will never want to come back at all.

Attacks on groups on people is nothing new, everyone does it and I mean everyone.  This would be good for bitcoin let the adult industry support bitcoin save money on fees, did you know they even charge more fees if they are processing payments in the adult industry.

It is possible, though it does create a few awkward moments when you are dealing with "normals"

I adore the blockchain.info model of doing without any banking from day 1.  I relish the purity of that, but they do have the luxury of only dealing with bitcoin folks.  When you are at the edges, and doing outreach, and etc, it forces some conversations when you have no bank (which are excellent conversations to have and great opportunities to explain the issues).  

Each of us was once a "normal", this is the first generation of this new capability.  


The mere fact that porn actresses are lumped in with we coin dealers shows that they are in very good company.  Wagons are circling.

It is a great chance for bitcoin to come out of darkness. Porno industry is the largest market and like it was with blu ray and hd dvd it may help bitcoin to become popular.

There are much larger markets, lol... real estate, cars, international remittance, internal corporate settlement.  
There's no money in porn since broadband.

The take home message is that the FDIC handed us a list of the types of businesses that they are handing over to Bitcoin.
The banks are apparently so flimsy that they can't handle a few porn stars making deposits or not making them.  That is too much risk for those poor widdle banks.
No worries, Bitcoin to the rescue...

I think that we should be glad to hear that the bankers are getting afraid and pissing their pants because of Bitcoin. My advice to you is to take this as a positive sign instead.  ;D

I could say that they absolutely have the right to cancel any account for any reason because they are a private company. But since the federal govt either runs the banking industry outright or by onerous regulations, it’s not such an easy thing to say.

Yeah , but bitcoin doesn't offer the "rebill the cc card of the idiot till he finds out" option.

You can see how much impact that has since sites that accept btc charge almost double for a month compared to cc payments.

Does the title of this thread bug anyone else?
I keep seeing "embarrass", when it is clearly meant to be "embrace" (though I suppose it could be either, I think the OP meant embrace as it is slightly punnier.)

This is a classic wartime tactic. Restrict sexuality as much as possible so that energy can be redirected fighting wars and obsessing about controlling others like a good sexually frustrated totalitarian subject.

You're joking but that is exactly what historically happened. That's how religion came to be. That's why some banks look like temples, that's why "sin" and "debt" are the same word in many languages ("Schuld" in German for example). Read https://en.wikipedia.org/wiki/Debt:_The_First_5000_Years

Banks are running there own monastery, there rules, there ways, they gotta have it there way or is the highway.  Thats how the banking system rolls.

I don't really see what the outrage is about.  It sounds like the banks are doing them a favor.  With the current garbage interest rates, many would consider it foolish to keep your money in a fractional reserve system.  You get paid a pittance and hold the entire risk in the event of widespread bank collapse.  While the odds of that may be small, the cost benefit analysis is way out of whack.  Keeping your money in the bank earns you less in interest than the rate of inflation, and in the event of catastrophe, you lose everything.  The FDIC simply doesn't have enough money to cover all deposits currently on record. 

*facepalm* all around

xhamster and xvideo accept bitcoin ... to buy tokens to retribute live chat & webcam : https://www.cryptocoinsnews.com/xhamster-porn-site-helps-you-bitcoin-rise-little-bit/