Paypal Bans Usenet Providers Over Piracy Concerns

[OP ChopSuey 49]

After banning several of the largest file-hosting sites, PayPal is now taking aim at Usenet services. The payment processor has just cut off several providers of Usenet services and frozen the funds in their accounts. These actions are due to growing copyright infringement concerns which have resulted in an extremely strict and in some cases privacy-violating set of requirements being laid down by the payment processing company.

PayPal is widely known for their aggressive stance towards BitTorrent sites and file-sharing services, and now this policy has also been actively applied to Usenet providers.

On Tuesday, PayPal cut off its services to five Usenet resellers including XSUsenet, EasyUsenet and Usenet4U, reports the Dutch news site Tweakers. The Usenet providers can no longer accept PayPal payments and the funds that remain in their accounts have been frozen for 180 days.

While this is the first time that we have heard about Usenet providers being banned, the actions don?t come as a complete surprise. To be accepted by PayPal, file-hosting services now have to comply with a list of far-reaching demands entirely targeted at copyright-infringing and otherwise illegal files.

Read full article here: http://torrentfreak.com/paypal-bans-usenet-providers-over-piracy-concerns-121121/

[Growled 3,880]

Well, that just sucks.

[Rigby 1,130]

That's really stupid. Usenet isn't just used for piracy, nor are file hosting sites. Just another reason to hate Paypal.

[Southern Patriot 675]

Not surprised. PayPal closed my account last year for selling legitimate copies of Windows because 2 or 3 customers (out of dozens I sold) had issues installing them and claimed that they weren't genuine (which was nonsense).

[Growled 3,880]

^ Yeah, paypal really sucks. I've just about stopped using them unless it's a case of have to.

[OP ChopSuey 49]

Looks like PayPal may have received pressure from RIAA/MPAA to cut off these providers. A lot of the providers that got banned are overseas, so the RIAA/MPAA can't touch these companies with traditional methods. Since PayPal is American, they can pressure PayPal into banning these companies from using their system.

[+Tailwind 320]

One of the things I miss from Aus is that the banks there actually were ahead of the pace with online features and technology. Since moving I've had to learn how to deal with cheques instead of just being able to direct deposit rent into my housemate's bank account.

It didn't take long before I understood how Paypal came to exist in the first place.

[FiB3R 1,635]

Hope bitcoin takes off in a big way. Screw paypal.

[123456789A 4,706]

Hope bitcoin takes off in a big way. Screw paypal.

I don't trust a bitcoin, but maybe another alternative.

[xendrome 3,702]

Hope bitcoin takes off in a big way. Screw paypal.

How is bitcoin anywhere near Paypal.. (BTW yes paypal is horrible and I would never use it) but bitcoin isn't real money, is it?

[The Laughing Man 442]

First attacks launched on Usenet, It's a sad day :(

[Sandor 436]

How is bitcoin anywhere near Paypal.. (BTW yes paypal is horrible and I would never use it) but bitcoin isn't real money, is it?

Which begs the question, how "real" is a 1 dollar US bill for example?

It's just a piece of paper and has no intrinsic worth whatsoever.

[FiB3R 1,635]

How is bitcoin anywhere near Paypal.. (BTW yes paypal is horrible and I would never use it) but bitcoin isn't real money, is it?

I suppose you could look at bitcoin like a foreign currency, which you buy with "real" money. The country where it is accepted is the internet.

You can also "mine" it, but that's a whole other story.

[123456789A 4,706]

Which begs the question, how "real" is a 1 dollar US bill for example?

It's just a piece of paper and has no intrinsic worth whatsoever.

Well, the dollar is backed by Barack Obama. The bitcoin is backed by some guy living in a basement.

[The_Observer 293]

Yea im not down with paypal, ill use them but only if i have too. Think ill have a look at bitcoin now!

Well, the dollar is backed by Barack Obama. The bitcoin is backed by some guy living in a basement.

and what about people outside the US. Paypal was usefull for me to pay for goods inside the US from outside the US!

[Sandor 436]

Well, the dollar is backed by Barack Obama. The bitcoin is backed by some guy living in a basement.

Is there a difference I'm missing?

You reckon if the USD failed Barack Obama would personally guarantee your deposit?

There are a few things that have actual value. Things like gold, silver...

[123456789A 4,706]

Is there a difference I'm missing?

You reckon if the USD failed Barack Obama would personally guarantee your deposit?

There are a few things that have actual value. Things like gold, silver...

The USA has tanks and planes and stuff to make sure we take over Canada or something if our demise is imminent. Bitcoins can't do anything.

[articuno1au 1,264]

Showing an ungodly lack of understanding of the idea of floating currencies.

Seriously. It's worth what people think it's worth.

That's why your currency goes up and down on a daily basis. It's not that your country gets more or less gold, it's driven by consumer confidence and demand (or lack there of) counter balanced by availability.

Bitcoins are worth money so long as their is a demand for them, so long as people think there is a demand for them or until governments start trying to legislate against it :\

[Sandor 436]

The USA has tanks and planes and stuff to make sure we take over Canada or something if our demise is imminent. Bitcoins can't do anything.

Doubt your capitalist loving pilots would fly without pay tbh. Nice dream for you to have though.

[Motoko. 435]

I'm glad I'm not the only one despising their business model.

[Sandor 436]

Showing an ungodly lack of understanding of the idea of floating currencies.

Seriously. It's worth what people think it's worth.

That's why your currency goes up and down on a daily basis. It's not that your country gets more or less gold, it's driven by consumer confidence and demand (or lack there of) counter balanced by availability.

Bitcoins are worth money so long as their is a demand for them, so long as people think there is a demand for them or until governments start trying to legislate against it :\

Indeed. The point however is that it's actually worth **** in the event of a catastrophe or financial crash. Having Coolboy Obama "backing" it is also worth a **** in the wind. Money is essentially faking it. A promise not a guarantee.

Some things however, at their base, do have a value.

Not that it would probably matter much, but if the government/society was destroyed by war/natural disaster/financial meltdown - the guy with $1,000,000 in "money" at the Bank or the guy with some gold bars under his bed. Who do you want to be?

[JaredFrost 231]

They'd better ban eBay transactions, there are actual fake goods on that site, which takes actual real money from the makers of those brands by tricking legitimate consumers into purchasing those fake goods.

That has more grounds than piracy of digital goods, since people are knowingly downloading it to either try before they buy, or have ZERO intention of purchasing in the first place.

[123456789A 4,706]

Indeed. The point however is that it's actually worth **** in the event of a catastrophe or financial crash. Having Coolboy Obama "backing" it is also worth a **** in the wind. Money is essentially faking it. A promise not a guarantee.

Some things however, at their base, do have a value.

Not that it would probably matter much, but if the government/society was destroyed by war/natural disaster/financial meltdown - the guy with $1,000,000 in "money" at the Bank or the guy with some gold bars under his bed. Who do you want to be?

Neither. The guy with gold bars under his bed is going to get beat up by looters and have his gold stolen from him. The guy with $1,000,000 is dumb for not diversifying his assets.