Topic: Cody Wilson Has His Companies Booted from Online Payment Processor Stripe (Read 928 times)

http://www.americanbanker.com/bankthink/how-operation-choke-point-hurts-the-unbanked-1071015-1.html

I think that's right. Fortunately Coinbase has a champion on the inside who can school his co-workers. The funny thing is that Coinbase is in San Francisco and BitPay is in Atlanta. Who would have thought the SF guys would be more open to it?

A FFL to FFL transfer and exchange of money relating to it is about as 100% legitimate as anything could possibly be.

They must be experiencing some kind of bigotry or prejudice pushing them in some supposedly politically correct direction according to the whim of some self avowed purveyor of public values and morality.

As a side note, many bitcoin payment processors have rules against legal gun sales. Even though firearms sales in the U.S. are highly supervised BitPay will not process these perfectly legal transactions.
I have been talking with coinbase recently and they are considering accepting gunshops as clients. It's not a done deal, but I have two shops that I'm helping get set up.

The big whales who invested into Stripe aren't going to like this very much.

When you go into something centralized then system failures from individuals like this will occur.

Yes, it really does help us move forward.  Not so much in areas of the world where firearms are more or less readily available such as the USA.

But in areas where they are not available to the public, where the shadow of dictatorship, fascism and oppression looms, the ability to produce firearms is a huge thing.

Well, we are all bit coin enthusiasts here - and so we all share that with Cody Wilson.

Cody is definitely a clever guy - very articulate - and kind of likeable, in spite of his dark iconoclast persona.

But TBH what is it bringing to the table when you are facilitating individuals, who wouldn't otherwise be allowed/enabled, to manufacture their own firearms.

I (kind of) understand the philosophical legitimation - but in practice, does it really help or move us forward ?

I dunno.

Cody Wilson, famous for making the first usable fully plastic 3D printed handgun and for his new project "Ghost Gunner" which mills metal lower receivers (the milling machine itself is of course not a weapon, and what it makes is not itself legally a weapon) for AR-15s, informs me today that his online payment processor Stripe has decided that his companies, all of them, qualify as forbidden "weapons and munitions; gunpowder and other explosives" services. This includes the Ghost Gunner and Defense Distributed.

stripestripe

See Stripe's very impressive list of companies they (or their "banking partners") refuse to do business with, including virtual currency, anything they think violates IP in any way, fantasy sports leagues, marijuana or tobacco businesses, or e-cigs, pornography, bankruptcy lawyers, airlines cruises or timeshares or prepaid phone cards; and any legal substance that emulates an illegal substance, like salvia. 

Wilson tells me Stripe isn't superefficient at enforcing these rules, and some explicit gun businesses have told him they do use Stripe and get away with it, though most in the gun world are aware they are not welcome with the processing company.

In correspondence with Wilson, a Stripe representative referred to "pushback from our financial partners" regarding his businesses as triggering the end of their relationship.

"Stripe is a big startup that's supposed to promote 'disruption,'" WIlson notes, but obviously wants to do so only with "minimal intensity. Obviously if something is too distruptive banks don’t like the risk. I've been completely excluded from the Bay Area payment processing universe."

This is yet another reason why the world most definitely needs another of Wilson's passions, Bitcoin: a means to transmit value online that depends in no way on censorious intermediaries like Stripe and their banking partners.


http://reason.com/blog/2014/11/03/cody-wilson-of-3d-gun-and-ghost-gunner-f