> And despite those drawbacks, it's still better than the VISA/MC duopoly on online payments
I'm always torn on this one. I really dislike monopolies (or duopolies in this case) and functionally the government has enough power today to compel Visa/MC to do whatever they want. Though as long as they are technically not part of the government we have a chance to rip apart that government power and remove their control of the financial institutions.
I have no real hope that those in charge would actually let it happen, but that small chance is gone if the government is running things directly.
I'm always torn on this one. I really dislike monopolies (or duopolies in this case) and functionally the government has enough power today to compel Visa/MC to do whatever they want. Though as long as they are technically not part of the government we have a chance to rip apart that government power and remove their control of the financial institutions.
I have no real hope that those in charge would actually let it happen, but that small chance is gone if the government is running things directly.