Post AS13xgdpmwn3wLs9Y0 by Jim@poa.st
(DIR) More posts by Jim@poa.st
(DIR) Post #AS0meZLcz2Tyb2eeZc by josh@poa.st
2023-01-25T19:46:45.779602Z
35 likes, 12 repeats
Are there any libertarian banks that intend to work with the Federal Reserve's FedNow system?If you don't know, FedNow is launching in 2023. It is the US's answer to the EU's IBAN transfer, which is an instant bank-to-bank transfer system. This means that, as long as your sender and recipient bank are willing, you won't have to appease Stripe or the payment networks anymore.So I'm scouting for a bank that I can open a Lolcow LLC account with and accept payments on behalf of the Kiwi Farms with intent to use FedNow.And yes, I know their branding is fucking abysmal.
(DIR) Post #AS0mrR9UlYw2wV7ES8 by Flamenco@poa.st
2023-01-25T19:49:06.140962Z
7 likes, 0 repeats
@josh The fed doing something reasonably based
(DIR) Post #AS0mrYYvDQQvvO48Ya by ProsperityGospel642@poa.st
2023-01-25T19:49:07.585407Z
3 likes, 0 repeats
@josh > tfw Dear Feeder need to get Fed(Now)
(DIR) Post #AS0nGDmxaXASjhORDU by ButtWorldsMan@poa.st
2023-01-25T19:53:25.565838Z
0 likes, 1 repeats
@josh i want to keep calling FedNow GlowNigger
(DIR) Post #AS0onaXq6PTQp6nM4u by Marshall1Banana@poa.st
2023-01-25T20:10:49.022837Z
0 likes, 0 repeats
@josh If it works... I dont particularly trust the centralization of money processing, but with "privatized" banks the way they are today all working in coordination...while I can always say "it cant get any worse," somehow I'm always surprised to find a new lower level of hell
(DIR) Post #AS0rokHlfhVnBaWN4C by PunishedD@poa.st
2023-01-25T20:44:38.472937Z
0 likes, 0 repeats
@josh Whatever bank operates on it, will still want to have or accept Visa/Mastercard. They'll still ban wrongthinkers once Mastercard's "risk department" hears about them.
(DIR) Post #AS0sFHr5U0C6pUhJ0C by bebecool@shitposter.club
2023-01-25T20:49:24.516455Z
0 likes, 0 repeats
@Marshall1Banana @josh how it works now there is always a payment processor between you and the person you want to send money to and they ask high fees for that as in super chats on YouTube. The new system would be a direct transfer. with IBAN you don't pay extra fees for this. I don't know if it's the same with fed now.
(DIR) Post #AS0se9gR0Du0izZZTs by Marshall1Banana@poa.st
2023-01-25T20:53:55.615889Z
0 likes, 0 repeats
@bebecool @josh I more ment regarding money transfer services today banning payment to certain businesses, if this too carries into fednow itll be a problem... but... its already a problem
(DIR) Post #AS0tgL2Jraf0T7PjW4 by bebecool@shitposter.club
2023-01-25T21:05:28.713279Z
0 likes, 0 repeats
@Marshall1Banana @josh But That's more with visa and stripe. This would be bank to bank directly so they would have no control and you would have more choice because you could go to a different bank. Visa and stripe are just middle men.
(DIR) Post #AS0xv3JASUBLe6ZB7Q by Albert_Wormenheimer@poa.st
2023-01-25T21:34:22.711598Z
1 likes, 0 repeats
@josh FedNow sounds like a fucking amazing thing I am very concerned there's something here they're not telling us
(DIR) Post #AS0yjUQNukxoE0zb0K by josh@poa.st
2023-01-25T22:02:06.456241Z
5 likes, 0 repeats
@Albert_Wormenheimer Every transaction will be reported directly to the Federal Reserve like it is to the EU Central Bank. That's the gotcha. You know how they recently reduced mandatory IRS reporting from $10,000 transactions to $600? This reduces it to $0.
(DIR) Post #AS0zOSmWvXtx0Et9A8 by Marshall1Banana@poa.st
2023-01-25T22:09:31.774037Z
0 likes, 0 repeats
@bebecool @josh I hope so, but damned if I'm not tensing up for something bad to happen in a new unexpected way
(DIR) Post #AS12sx3dE6hNS47KG8 by Jim@poa.st
2023-01-25T22:48:38.402202Z
7 likes, 0 repeats
@josh Doesn't Africa use something similar as well? Could have sworn they had built up a mobile based peer to peer (for service and personal) banking system though I don't know if it was integrated through something like stripe or not.
(DIR) Post #AS13iyBcH6KA0jejwm by DixonButts@poa.st
2023-01-25T22:50:27.007328Z
1 likes, 0 repeats
@Jim @josh He's Alive! Yeah
(DIR) Post #AS13o8N1q1aj2nSNA8 by Eiswald@poa.st
2023-01-25T22:58:59.592060Z
2 likes, 0 repeats
@Jim @josh mfw Africa is somehow ahead of us on this one particular thing
(DIR) Post #AS13xgdpmwn3wLs9Y0 by Jim@poa.st
2023-01-25T23:00:42.302016Z
6 likes, 0 repeats
@Eiswald @josh I could be misremembering this but I saw a video a year or so back where they talked about large segments of the population in different African nations not having proper access to a physical bank and the solution was to build up a mobile system that functioned as service to pay bills and transfer funds. I mean it makes sense but I don't know if they routed it through existing shit or made it from scratch.
(DIR) Post #AS14AjQgjZy6LqwZsG by grey@poa.st
2023-01-25T23:03:04.067063Z
1 likes, 0 repeats
@Eiswald @Jim @josh even a third world shithole like Canada has this
(DIR) Post #AS14BUbzJNvwgValVo by ezpz@poa.st
2023-01-25T23:03:12.184124Z
1 likes, 0 repeats
@Jim @Eiswald @josh I think I saw that shit too
(DIR) Post #AS14w5ozIbvRPQtRMu by doki@clubcyberia.co
2023-01-25T23:11:38.165355Z
0 likes, 0 repeats
@josh @Albert_Wormenheimer They love you, that's all. How else are they suppose to show how much love you if they aren't watching you. It sounds to me like you don't want love josh. Just embrace globo homo, let them take control.
(DIR) Post #AS15BApKyElXHHFQDw by Zygnus@poa.st
2023-01-25T23:08:30.436336Z
2 likes, 0 repeats
@Jim @Eiswald @josh That's the reason crypto is very big in Africa. Apparently Nigeria, which has a population of 150 million people, is the country with the largest use of Bitcoin in day to day transactions. Their government tried banning Bitcoin outright a year ago, launching instead their own CBDC (a crypto controlled by a central bank / government), but since nobody used it and people continued to use Bitcoin nonetheless, the government reversed the Bitcoin ban a month ago. Also Cardano (ADA) is very focused in Africa, seeking to reap the enormous opportunity presented by the millions of people without access to regular banks.
(DIR) Post #AS15RfUSjUut0mLhDM by GRAD13NT@chudbuds.lol
2023-01-25T23:17:20.500988Z
0 likes, 0 repeats
gonna have to barter in yanks, smokes, and bottles of whiskey if they go full lightswitch, the most secure investment besides guns and ammo right now and manga half the population will need that to get off when the lights go out and bubbas got the zipties and chains jangling trying to get in your house to give you a new profession.
(DIR) Post #AS1647AiGJeLrtRaPg by alex@gleasonator.com
2023-01-25T23:24:02.670521Z
8 likes, 1 repeats
@josh I was just gearing up to build a new FOSS self-hosted Patreon-style platform. Was planning to build it on Authorize.net, but now wondering if FedNow will be a better solution. I need developer docs for this thing.
(DIR) Post #AS168RFxWv5TJlxYnY by APPTeOORuzvlGOetVY.verita84@poster.place
2023-01-25T23:25:04.309290Z
0 likes, 0 repeats
@alex @josh @mona Gleason is gonna build something you were interested in
(DIR) Post #AS16E3I7XpakjFeCTw by mona@frennet.xyz
2023-01-25T23:26:04.795Z
1 likes, 0 repeats
@verita84@poster.place @alex@gleasonator.com @josh@poa.st that would be great love it
(DIR) Post #AS16MFT0A08ko6e3yC by charliebrownau@pieville.net
2023-01-25T23:27:32Z
1 likes, 0 repeats
@josh The real solution is LocalismLocal CommunityLocal Banks with currency based off hoursLet me know when ((( LIBERTARIANS))) are finally willing to de couple from the National ((( STATIST))) system--Local Currency in USAhttps://en.wikipedia.org/wiki/Local_currencyIthaca Hours: https://yewtu.be/watch?v=Jy2nCHX36tIBerkShare - Berkshire County - https://yewtu.be/watch?v=KRID85f-dmQlocal French currencies https://yewtu.be/watch?v=Sapa2UQrhIQWooden Money - Tenino,Washington - https://yewtu.be/watch?v=4xqSUYKwVVM
(DIR) Post #AS16Mf0BDmXC0FMPei by Moon@shitposter.club
2023-01-25T23:27:25.873174Z
0 likes, 0 repeats
@alex @josh i assume it still will be bound by OFAC and domestic equivalent so I wonder if right out of the gate it will start blocking stuff.
(DIR) Post #AS16VPsqneJRil6j7Q by alex@gleasonator.com
2023-01-25T23:29:04.953872Z
3 likes, 0 repeats
@josh I found this: https://www.frbservices.org/financial-services/fednow/blog/payment-flow-what-you-need-to-know.htmlISO 20022: https://en.wikipedia.org/wiki/ISO_20022
(DIR) Post #AS17Wd2FUJQokme4MS by feld@bikeshed.party
2023-01-25T23:40:15.269389Z
0 likes, 0 repeats
Did they change scope of FedNow? I thought it was not going to be permitted for person to person transfers or something like that. Only between businesses as new payment rails.
(DIR) Post #AS17d3ZfjGeSnhLNiK by charliebrownau@pieville.net
2023-01-25T23:41:47Z
0 likes, 0 repeats
@alex @josh Wasnt their some GNU payment thingThing is unless your willing to use a Porn/high risk payment processorits going to be the same bullshit that uses((( PAYPAL)))((( MASTERCARD)))((( STRIPE)))
(DIR) Post #AS17lylUylh8UW88QK by raphael@mastodon.communick.com
2023-01-25T23:37:45Z
0 likes, 0 repeats
@josh Small correction: in the EU, the payment network is SEPA. IBAN is just the numbering system for bank accounts. @alex Regarding "FOSS self-hosted platform", this will be the 378th time that I tell you about https://hub20.io, which started as a "payment gateway and "self-hosted Venmo for crypto", but it has since become extensible for *any* type of payment network and wouldn't take too much work to add FedNow support.Please don't reinvent this wheel, and take a look at hub20.
(DIR) Post #AS17lzKwqy3EGSiRg8 by alex@gleasonator.com
2023-01-25T23:42:59.905340Z
0 likes, 0 repeats
@raphael @josh Show me an example of a hub20 site.
(DIR) Post #AS17rmcP3MKCYYdxE8 by meso@asbestos.cafe
2023-01-25T23:44:27.718182Z
0 likes, 0 repeats
@josh FedNow
(DIR) Post #AS194GTBzYtMZHqo0e by raphael@mastodon.communick.com
2023-01-25T23:54:41Z
0 likes, 0 repeats
@alex @joshThe "hub20 site" would be the frontend, which is deployed at https://app.hub20.io. You will be asked what backend you want to connect to.For the backend, there is one demo instance deployed at https://demo.hub20.io, but to be honest I haven't checked in what shape it is.
(DIR) Post #AS194GxgADHK5q79Wq by alex@gleasonator.com
2023-01-25T23:57:43.587326Z
1 likes, 0 repeats
@raphael @josh I tried adding a store but it doesn’t show up in my list.
(DIR) Post #AS19l8aXAg6MZljCTY by DrPiccolo@poa.st
2023-01-26T00:03:00.228948Z
1 likes, 0 repeats
@Jim @Eiswald @josh "I type all de moneys in 2 da komptr and i buy bugati and get dey white grrl"I can see banks working REAL well in Africa.
(DIR) Post #AS1CKSnWDzp5IXm37o by PunishedD@poa.st
2023-01-26T00:34:28.469090Z
1 likes, 0 repeats
@Jim @Eiswald @josh Yes, Africa has had widespread SMS banking for over a decade. I don't know if they finally got enough smartphones to upgrade to app-based banking. (India was on SMS banking too but they've upgraded to smartphones since.)SMS banking is actually a really good solution for them: low data requirements, doesn't break like an app, usable on every ancient phone produced in the last 30 years. You don't have to run tons of infrastructure into remote regions, you just need to cover 80% of the area with cell service or satellite coverage.It's not a great solution for Josh, because it has to come directly from an established bank and the government. The US treats transfers more seriously, and anyone trying to start up a similar payment system will be instantly smacked down by the feds. Plus it's basically unshakeable KYC, since it's tied to your phone identity.
(DIR) Post #AS1taTRhsX0pyFS6ls by josh@poa.st
2023-01-26T08:39:10.130260Z
1 likes, 1 repeats
@feld @alex You're kidding, I am literally on their mailing list and I've never seen that
(DIR) Post #AS1uq7cosKIQslfxRY by josh@poa.st
2023-01-26T08:53:11.608465Z
3 likes, 1 repeats
@feld @alex >The FedNow Service will be available to depository institutions in the United States and will enable individuals and businesses to send instant payments through their depository institution accounts. The service is intended to be a flexible, neutral platform that supports a broad variety of instant payments. At the most fundamental level, the service will provide interbank clearing and settlement that enables funds to be transferred from the account of a sender to the account of a receiver in near real-time and at any time, any day of the year. Depository institutions and their service providers will be able to build on this fundamental capability to offer value-added services to their customers.federalreserve.gov/paymentsystems/fednow_about.htm
(DIR) Post #AS2CX0llwF1jIDtsdU by josh@poa.st
2023-01-26T12:11:25.841186Z
4 likes, 0 repeats
@alex They're in open beta. Maybe ask Dick Masterson for what banks he was in contact with with New Project 2. He was using a libertarian bank out of Texas, but the cards still shut him down.Find one that's permissive and willing to implement FedNow. They're actively testing, and since they're an (alleged) government service, there is judicial recourse to debanking.
(DIR) Post #AS2KURmFroEpowPkGG by feld@bikeshed.party
2023-01-26T13:39:55.420982Z
0 likes, 0 repeats
My search results keep getting polluted with results that are too new so I'll have to keep digging but I swear waaaay back when this was floated it was only going to be B2B.Regardless>>> to send instant payments through their depository institution accounts>> send instant payments> instant"FedNow Will Let Banks Delay Instant Payments to Prevent Fraud"https://www.pymnts.com/news/faster-payments/2022/fee-schedule-set-for-2023-fednow-service/:newlol: :newlol: :newlol:
(DIR) Post #AS2KjBcGEhKK2clfZw by feld@bikeshed.party
2023-01-26T13:42:58.111341Z
0 likes, 0 repeats
and here's the official press release for it
(DIR) Post #AS2Miky7VhqPIuunlQ by josh@poa.st
2023-01-26T14:05:36.531702Z
1 likes, 0 repeats
@feld @alex Sounds typical. If the bank's systems detect fraud they can delay the payment. 99% of tx will be instant.
(DIR) Post #AS41rEsQUFhBerNK3U by josh@poa.st
2023-01-27T09:21:15.766988Z
2 likes, 0 repeats
@charliebrownau ok retard, find a local bank willing to accept an account from a wyoming llc owned by a man in serbia that intends to use FedNow and i will open with them.if you can't find that, find a libertarian bank.fucking moron.
(DIR) Post #AS41yIekpj0lPILaYS by Comrade_Courier@poa.st
2023-01-26T00:00:07.404117Z
0 likes, 0 repeats
@josh I don’t know what funnier. Thinking that there’s such thing as a libertarian bank or thinking that there’s a bank not run by jews.
(DIR) Post #AS41yJAIwQFSz96mjQ by josh@poa.st
2023-01-27T09:22:32.150267Z
9 likes, 0 repeats
@Comrade_Courier There's banks ran by Asians. Those are Libertarian.There's a lot of banks and credit unions ran by a lot of people. It's the payment networks, big banks, and federal reserve that's corrupt and jewish.>NJP stickerah... I see pragmatism isn't your strong suit.
(DIR) Post #AS4d5o4k72U1BOwhJg by Francisco@chudbuds.lol
2023-01-27T16:11:26.441944Z
0 likes, 0 repeats
It's the deep government, what makes you think they won't nuke you from orbit sooner than sooner?
(DIR) Post #AS4d5oX6PbAUbMDLWK by josh@poa.st
2023-01-27T16:18:28.595175Z
2 likes, 0 repeats
@Francisco I have legal recourse if they do, unlike with MC/Visa.
(DIR) Post #AS5DLe5saYENCzKTwG by FailurePersonified@chudbuds.lol
2023-01-27T23:04:44.408192Z
0 likes, 0 repeats
We are definitely marching towards a cashless society and while I think FedNow is cool; this is the gov, trustworthy as always
(DIR) Post #AS9hbTPnpkUjynx2zw by SIC_Guy@poa.st
2023-01-25T19:52:55.368840Z
1 likes, 0 repeats
@Flamenco @josh
(DIR) Post #ASActenlvqS1tVyS8m by JubtheNub@poa.st
2023-01-30T13:33:03.207597Z
1 likes, 0 repeats
@Jim @Eiswald @josh youtube.com/watch?v=5kb4nSRsOkc
(DIR) Post #ASGN4orDRz3UxeV8mO by GEM_MAX@poa.st
2023-02-02T08:03:20.319951Z
1 likes, 0 repeats
@Jim @Eiswald @josh youtube.com/shorts/AbTyoHIqbOw
(DIR) Post #ASJShs9GEMArhtGLaa by Butters@poa.st
2023-01-25T21:09:16.357047Z
1 likes, 0 repeats
@josh This sounds like a great idea, but i sense vigorous hand rubbing plotting to get in the way....... If i was wrong i would feel so much better about everything