Paypal basically just killed Hacker News

I thought PayPal automatically sends you money back to your bank account after a few days. They do that for my account.

How is it Paypal is allowed to operate like a bank but isn't regulated like a bank?
I mean, an actual bank couldn't withhold your money without a fucking good reason

>You were only supposed to do this to the naught sees reeeeee

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>haha you don't have to worry about the tech cartel literally colluding to unperson people they don't like they only do that to evil alt-righters
>OH NO THEY DID THAT TO SOMEONE I LIKE HOW COULD THIS HAVE HAPPEND

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i know you're memeing but see regardless

Feels good using cash and actually owning my own money

Your money is owned by your central bank. It's value and your right to hold it can be removed entirely.

You have to turn that on, otherwise it's manual deposit.

that's not YC's hackernews you dumb fuck

Boycott paypal and stripe. They've murdered all patreon competitors and now have moved on to everybody else. Not even direct bank transfer is safe anymore, mastercard does this crap too.

>Storing money in PayPal in any large quantity

Full retard, you turn on auto-deposit to make it empty to your bank account every week

I'm confused. What's the difference between news.ycombinator.com/ and thehackernews.com/ ?

That's why you only keep a small % of what you own in cash and rest in a mix of silver and gold.

bitcoin

>Boycott paypal and stripe
Won't be long till people are saying boycott banks and other merchant dominated fields.

>REEEE MOMMY THEY TOOK AWAY MY NEO NAZI FUNDS!!!!

Gotta start somewhere.

lel

>Is this the beginning of the end, Jow Forums?
No, it's not the beginning of anything. PayPal has been closing accounts and keeping the funds since forever. They did this 10 years ago and they do it today. How is this news?

I'm not saying it's excusable or anything, I'm just saying that they have a very long track-record of closing accounts for no reason. It shouldn't be a shock to anyone that PayPal randomly closed some account.

So whats the actual reason paypal has a monopoly to the extenct them refusing business with you kills your business?
Why isn't that activity somewhat illegal.
>oh hey, fuck you, your days of having income is over better kys

Thank you, Ron

Paypal isn't the only payment processor available.

Paypal isn't a bank. They aren't regulated like banks are. They can generally do as they please.

it's some trashy clickbait site that steals articles

We need new laws in place to stop this shit from happening. A company that handles peoples' money DOES NOT AND SHOULD NOT have any right to arbitrarily decide to stop doing business with certain people or groups.

Money and making payments is an absolute necessity to life. We can't just have private companies holding people by the balls like this. We can laugh now, because it's only happening to radical neo-nazis, pirate sites, and other people on the fringe of society. But this is serious business.

Imagine someday, you offended some SJW who promptly summoned an online mob to shame you. One of those chucklefucks contacts the banks and credit card companies and you are blacklisted because they don't want the bad PR. Suddenly, you can't cash your paychecks, you can't pay your bills, and you can't even afford to feed yourself because all your money was in the banking system controlled by a private entity. This sounds like I am exaggerating, but there are already people who have been blacklisted by credit card companies after trying to move away from paypal. This is a slippery slope, and we shouldn't be encouraging this behavior.

Don't care in the slightest.

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That's why you keep your money either as cash or crypto. Never trush (((3rd parties))), user.

They start with people no one likes so when they move on to you, everyone else is desensitized.

Based MasterCard destroying hate speech online for good

The website was literally one that just copied and and pasted articles all the time but alright user

deplatforming infowars was the beginning of the end you dumb sheeple

>muuu my business
that's what you get when you waste all your time defending big bro rather than your own interest.

"The Hacker News" posted carding stuff and had shady ads, hence getting pajeeted by Paypal.

YC Hacker News is owned by a billionaire and has no advertising beyond shilling for YC investment

just like how you have all these choices between Verizon and Comcast l m a o

>thehackernews.com/
Damn, I never knew that was a mirror of news.ycombinator.com/ Thanks man

too bad the legislative body of this country is a retarded clusterfuck that can't get anything done at all.

>we need new laws

we need a new lawmaking system.

But even trashy clickbait sites that steal articles are due protection from The Man.

>there's absolutely nothing wrong with censoring political dissidents

if you want a legislative body that can get shit done, that's called a one-party system under fascism, aka any fascist or socialist government ever practiced.

The US government was specifically invented to invite competition and delay into the legislative system.

Any company handling payments should be regulated the way banks are.

These people are creating very real fascism here, by cutting people off from the online payment system for having wrong opinions or whatever.

lmao you racist drumpftards just build your own paypal

Who?

GOMMALD BLOOOOOMPF! GRUUUUUUUUUUUUUUMPF!

Dude you can go to banks for payment processing services, you can go to the card companies directly for payment processing services.
Just because you don't know how to accept payments doesn't mean the options aren't available.

Are you saying that everyone and their grandmother's etsy stores should go ahead and build their own databases and get audited for proper and legal debit/credit card handling services?
You're insane.
Paypal exists because no one can be trusted to do it correctly.

>Expecting any kind of ethics from a company that shuts down any rivals to Patreon simply because it's invested money into it

>Are you saying that everyone and their grandmother's etsy stores should go ahead and build their own databases and get audited for proper and legal debit/credit card handling services?
Where did I say any of that malarky?
I said they can go to their bank or to the card companies themselves, like local brick-and-mortar stores have to do, for payment processing.
Stop being insipid.
>Paypal exists because no one can be trusted to do it correctly.
How do you think Paypal processes these payments?
They transfer them to the card companies and banks directly.
People don't do this because it costs fees for each transaction plus a monthly service fee, and they don't know how to manage it for their garage businesses.
Paypal eats those fees and spreads them around over their enormous customer base. That's why they can provide a quality service through reasonable fees.

Well it should be begging for new legislation in US and EU that states that payment processing services should do their fucking job.

but as we live in the worst history, this will mean that paypal just can ban anyone they want for any reason they want.

The credit card companies themselves were pushing for this. Mastercard in particular started banning conservative websites and threatened to ban services that did business with them. E.g. patreon.

>inb4 "just start your own banking system"

Fuck JewPal

Maybe mobs with rope and torches. A money business can't operate if its execs are swinging and all its tangible assets are set ablaze!

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You're oversimplifying paypal's business as "accepts money and dumps it into peoples accounts for them lol"
Nobody would use Paypal if THAT were the only thing they're good for.
Paypal is the meat shield between your bank account and anyone who wants to give you money whether that be donations or payment in exchange for goods and services.

It means nobody has to send a 5-day check or money order to your physical address with all your personal information on it.
It means you can't be sued for mishandling of sensitive consumer information after your servers are hacked and your database of credit card information gets leaked.
It means you don't have to trust shady websites with your credit and debit information since you can just trust PayPal instead.

You don't understand money, you don't understand security, and you sure as hell don't understand paypal's business model.

>be company
>don't want money
it's the darndest thing

Prove your claims.
Paypal is a middle-man, and everything I said describes it as such.

Prove what? This is well known stuff. Just google for conservatives banned by credit card companies. E.g. www1.cbn.com/cbnnews/2018/august/visa-and-mastercard-reportedly-refuse-service-to-david-horowitz-newest-victim-of-splcs-anti-conservative-purge

That post was taking the scenic route for calling you a retard.
PayPal and payment processors are a critical service where the "service industry" is within the top three industries in the nation.
Running a small-medium sized business without a payment processor is like competing with China as Zimbabwe.
If you think people should just "do without", you're an insane zealot.

I have 30k in the bank, how much should i leave in cash and how much should I convert to gold and silver?

Fuck you too, my man.

Paypal is not subject to banking regulations. Don't use it.

PayPal is controlled by bigger payment processors like banks and mastercard/visa.

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>reportedly refuse
Did these companies voluntarily report this?
Maybe they should have used the word 'allegedly'.

the "golden" rule is 30% at least in valuable metals, gold, silver, copper even (more storage required tho), if the laws in your country (basically anywhere else but US) are screwed about private property and you don't have 200k+ to invest in, don't bother with diversifying that way, just buy coca-cola stocks for another 20-30%.

I;m the US of course. so i just go out and and buy 6k worth of gold? I bought about 1k of silver back in 2014, its sitting in a safebox at home.

If bitcoin were easy enough for everyone and their grandma to use then we'd be using that, but it isn't so we won't.
If you don't have any suggestions then people will just take you to be another ricardo stallmanu

I'm not him but I don't personally recommend storing anything with strictly monetary value at home.
In a situation where banks are useless, valuable metals and cash will do you no good because the government isn't functioning at that point, and so there's little reason to have it be literally on hand.

Research it, I am from east EU, where gold prices are quite different (taxes) than US, and recently, mid 2018 I bought 10k USD worth of gold from a bank with certificates and everything. Fast forward, after all the market fluctuations and whatnot, I am actually 0.6% on profit. So do your research, look at the prices in the last 10 years, 5 years, this last year and this month, I find a correlation between all the mid-east wars and prices going up. If Syria is stable etc. gold prices might go down one more time, but this is my personal "theory" without any real facts.

Consider Coca-Cola tier stocks as well, they only go up, rarely you will lose more than if your money are under your mattress and/or you might actually profit off of them short term.

So in the case where banks are useless and the government isn't functioning, gold has no use but what does? Cash? You know, people store gold, silver, and other similar stuff just because of that case.

What's the logic behind your statement?

and you guys thought I was being a tard for not using paypal
never use a financial institution that's not governed by banking laws

cash has zero value, gold may have some use due to faith, but in those situations usually the items with the most value are the basic necessities.
Food, water, bullets, and guns. Gasoline and a functioning generator will especially be at a premium. Whatever you can reasonably barter.

to be more specific, gold will only have value as a tool to escape the country--where other governments are still functioning.
Although if you had a decent exit plan you would have gotten out long before you actually needed it.

too bad it wasn't ycombinator.

Nothing but useful idiots.

>Oh well I don't like [Nazis/white supremacists/white people/men] so it's okay when the wealthy and connect people hurt them.
>Oh no, now *I* am the one being hurt by their censorship or other draconian policies! But I thought I was on the right side of history??

They won't learn until it's too late.

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This.

I learned this the hard way after working at a startup that relied on PayPal: DO NOT KEEP SUBSTANTIAL AMOUNTS OF MONEY IN PAYPAL.
You can use PayPal to accept and process payments, but always move your money to a traditional bank as needed.
I know Jow Forums is going to quote this post and say "but da JEWS" but traditional banks are by far the best place to keep your money.

What is it you think paypal has a monopoly over?

>Money and making payments is an absolute necessity to life. We can't just have private companies holding people by the balls like this. We can laugh now, because it's only happening to radical neo-nazis, pirate sites, and other people on the fringe of society. But this is serious business.
plenty of stories on (real) HN and other places about actual banks pulling the same shit on legit businesses - freezing accounts and shit while they "investigate"

I would not be surprised. Was THN infiltrated by stormfaggets?

They'll switch to another payment processor. Paypal sucks ass anyway.

PayPal have been doing this shit forever, it's a racket and they don't care about you. I'm surprised anyone would trust them anymore.

>Imagine someday, you offended some SJW who promptly summoned an online mob to shame you.
You all think this part is hyperbole? Think again. These fuckers find everything offensive. Even if you follow all their dumb fuck rules, they will find something to hang you with. Don't ignore this shit or shack it off as shitposting. Because you will be screaming for help and asking what you did wrong when you get your money frozen because you looked at a tranny the wrong way.