If Mastercard or Visa are actively preventing us from getting a Dash backed debit card, sue them?

S

solarguy

Well-known member
We have reason to believe that some big player in the US credit card industry is actively trying to prevent us from getting a functional Dash backed debit card going in N. America. I suspect that's against the law.

What would the community think about getting a legal opinion on that, and if our suspicions are true, go sue their pants off.

Or we could approach it the other way. Hire somebody in the industry to find out if that's actually happening, and if yes, then get a legal opinion, and if yes, then sue their pants off.

If that actually transpires, and if they are doing that, Dash would get a lot of press, likely very good press, and the Credit card companies might settle out of court and withdraw opposition rather than have their anti-competitive business practices paraded around in court. Or we win in court.
 
Although I think research and legal advice would be a good idea, we are too small to win. Remember, we'd be footing the bill and fighting this on the behalf of every other crypto out there. I mean, all these other cryptos and debit cards want to know the answer to this. So I think, get the advice but let us grow and take them by stealth.
 
GrandMasterDash said:
Although I think research and legal advice would be a good idea, we are too small to win. Remember, we'd be footing the bill and fighting this on the behalf of every other crypto out there. I mean, all these other cryptos and debit cards want to know the answer to this. So I think, get the advice but let us grow and take them by stealth.
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We have 3 million dollars a month burning a hole in our pocket. Lawyers are expensive, but not that expensive. We could use a mere 5% of our treasury per month and buy 150 grand per month in lawyers and researchers. That is not a trivial amount of fire power.
 
solarguy said:
We have 3 million dollars a month burning a hole in our pocket. Lawyers are expensive, but not that expensive. We could use a mere 5% of our treasury per month and buy 150 grand per month in lawyers and researchers. That is not a trivial amount of fire power.
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I don't actually know, but history shows the big guys can prolong this stuff for years and it can get quite ugly. But anyway, no point running before we can walk. I agree legal advice / research would be a good idea.
 
Why would this be against the law though? What actions do you think they might be taking that are illegal?
 
And just to clarify, as much fun as it would be, I'm not all gung-ho to go sue the big credit card company or companies, unless we decide that this is the fastest, most efficient and effective way to get back into the North American market, AND we must have incontrovertible evidence that they are holding us back and breaking the law.

At some point, we may need a relationship with a credit card company, as dirty as that makes me feel.
 
TroyDASH said:
Why would this be against the law though? What actions do you think they might be taking that are illegal?
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Anti competitive trade practices are many and varied, and almost always against the law.

https://en.wikipedia.org/wiki/Anti-competitive_practices

Making it tough on your competitors by being very good at is fine. You may even cause them to go out of business that way.

But if you use various means to insure that Dash cannot compete in the market, regardless of how competitive Dash would be in that market, that's against the law.
 
this is crybaby style. not classy at all. just let them be.
in 1 or 2 years we fund and take a stake in new card issuer company "fiatcard" and compete them out of their markets.
 
deepstate is definitely up to something, I was using the UQUID card for several months and suddenly, it broke due to "banking relationships".

They can sanction this and sanction that, eventually they will be alone in their walled garden.
 
Vedran Yoweri said:
this is crybaby style.
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You clearly have never met my attorney.

Vedran Yoweri said:
...not classy at all. just let them be.
in 1 or 2 years we fund and take a stake in new card issuer company "fiatcard" and compete them out of their markets.
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But your point is well taken, they can only slow us down for so long.

But on the third hand, I'm in a hurry, and if some strategic legal action gets us there faster, I would still consider it.

I would very much like to know if it's going on. What we do with that information would still be an open question. I wonder...if there is somebody in our community that has connections to that level of the banking industry who could ask a few discrete questions...
 
Vedran Yoweri said:
this is crybaby style. not classy at all. just let them be.
in 1 or 2 years we fund and take a stake in new card issuer company "fiatcard" and compete them out of their markets.
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Bingo.

If for some reason we feel like ignoring IX, and sticking with some busted card model when IX means we could skip that entirely...

Compete by elimination of their entire business model, not merely being better at it.
 
I don't think there is anything specifically related to Dash... several cards that exist / existed can be loaded with Dash or other cryptos. The main change that I have seen is that one of the only companies actually issuing the cards (WaveCrest), as opposed to simply operating the exchange services, stopped supporting cardholders who do not reside in the EU / EEA. Whether or not this was under pressure from Visa / Mastercard I can't tell, but Dash is not the only coin affected. But now it has begun to be feasible (ICOs / Blockchain funding) to create a company that could potentially acquire a banking license somewhere, partner with Visa / Mastercard as any other bank (I don't know what criteria they use for that, but Mistertango, for instance, is a licensed bank in Lithuania that issue debit cards and has ties to the crypto world), and directly issue the damn cards.
 
moonknight said:
I don't think there is anything specifically related to Dash... several cards that exist / existed can be loaded with Dash or other cryptos. The main change that I have seen is that one of the only companies actually issuing the cards (WaveCrest), as opposed to simply operating the exchange services, stopped supporting cardholders who do not reside in the EU / EEA. Whether or not this was under pressure from Visa / Mastercard I can't tell, but Dash is not the only coin affected. But now it has begun to be feasible (ICOs / Blockchain funding) to create a company that could potentially acquire a banking license somewhere, partner with Visa / Mastercard as any other bank (I don't know what criteria they use for that, but Mistertango, for instance, is a licensed bank in Lithuania that issue debit cards and has ties to the crypto world), and directly issue the damn cards.
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I would happily completely bypass the legacy banking system and go directly to issuing our own cards. What's it take to get a banking license in the U.S.?
 
moonknight said:
I don't think there is anything specifically related to Dash... several cards that exist / existed can be loaded with Dash or other cryptos. The main change that I have seen is that one of the only companies actually issuing the cards (WaveCrest), as opposed to simply operating the exchange services, stopped supporting cardholders who do not reside in the EU / EEA. Whether or not this was under pressure from Visa / Mastercard I can't tell, but Dash is not the only coin affected. But now it has begun to be feasible (ICOs / Blockchain funding) to create a company that could potentially acquire a banking license somewhere, partner with Visa / Mastercard as any other bank (I don't know what criteria they use for that, but Mistertango, for instance, is a licensed bank in Lithuania that issue debit cards and has ties to the crypto world), and directly issue the damn cards.
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I would happily completely bypass the legacy banking system and go directly to issuing our own cards. What's it take to get a banking license and start issuing Dash backed credit cards? Uber partnered with Barlclays to issue their own credit card.....hmm.....
 
solarguy said:
I would happily completely bypass the legacy banking system and go directly to issuing our own cards. What's it take to get a banking license and start issuing Dash backed credit cards? Uber partnered with Barlclays to issue their own credit card.....hmm.....
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The thing is that in order to issue a Visa / Mastercard debit card, one has to have a banking license, at least that's the way I understand it. I don't know whether this is a Visa / Master demand or a regulatory one. Yeah, you see, Uber had to partner with Barclays in order to issue "their" cards - I suppose they are cards issued by Barclays that are simply branded "Uber".
 
Remember, there was a pre-proposal earlier this year about buying a bank in Puerto Rico exactly for such purposes?..
 
akhavr said:
Remember, there was a pre-proposal earlier this year about buying a bank in Puerto Rico exactly for such purposes?..
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I found the proposal intriguing. I found the qualifications of the proposer poorly matched to the task. I would still be interested in such a proposal from someone that demonstrates they have significant skills and experience in that area.
 
as in an initial experiment would be more appropriate to make available a black card exclusive to Masternodes, such as the Amex Centurion Card. How about a partnership with Amex?
What is the Amex Centurion Card? And How to Get it!

However, a prepaid card available at airports would be able to assist a larger number of people. Understanding How Prepaid Cards Work:
:rolleyes:
 
Amex would be on the bottom of my list for desirable card issuers. And that specific card, you have to pay $2,500 a year just for the privilege of carrying around the mythical black card that is above the platinum. Special perks when you stay at those exclusive exclusive hotels, where a room is a thousand bucks a night.

That's not how I roll.
 
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