[ sourced from Wired ]
The answer here is dont convert to fiat. I can buy food, pay for intetnet, electricity, phone, etc all with crypto and never touch fiat. I can even get a line of credit via crypto. About the only thing dollars are required for would be a mortgage and car payment as those are bank drafts. Anything that asks for a 16 digit card number, cvv, and date can be purchased with crypto.
Haui@discuss.tchncs.de 1 year ago
It’s insane. I had no idea sex workers would be in such harsh conditions in the US.
One Problem pops out to me: usually, someone would just open a bank dedicated to sex workers and favor their business over others. But the banking industry would probably shut off that bank by denying cooperation, which is a form of market manipulation.
That is not mentioning the fact that opening up a bank is no small feat. I‘ve read about payment processors like n26 who later became a legit bank. I believe that is not easy to achieve. It would be easiest to maybe search for a bank outside of the us who does not share information about their customers without a warrant.
Swiss banks come to mind although switzerland is very conservative afaik. Germany would be my next guess.
Prostitution is legal here and I think the issue is not as big in that case. Maybe if someone was able to transfer their funds here, they could circumvent the US banking system.
That way, politics would be forced to act since they would be missing out on all the money that goes through another country.