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70 sats \ 1 reply \ @DarthCoin 9 Jan 2023 \ parent \ on: Fountain 0.6 - Activity Feed, Deposit with Bank Card and UI/UX Upgrades bitcoin
Nothing wrong with that. But coming from Fountain is wrong.
Soon fountain users will be forced into full KYC too (because of that option to "buy sats").
You see? People get it wrong my comment about this news. I am not against the fountain model of paying content creators. I am paying those creators too, through fountain or any other methods.
I am against users "buying" sats through fountain.
Users must do the correct process of acquiring, storing, managing their sats and split their stash in many parts: for hodl, for spending on veers, for spending on podcasts and do the proper coin control.
Doing it directly through fountain app and using a bank card you are exposing yourself.
Now I understand the issue more clearly.
Because it is optional ..., and I can maintain my financial privacy by not using the bank card payment method, Fountain offering this will not have much of an impact on me, personally.
And since it isn't Fountain itself that is accepting the payment, they aren't the exchange and thus it shouldn't ever involve KYC. But yes, there is a link between Moonpay and Fountain now so who knows -- regulators regulate. But if Fountain needing to do KYC becomes a requirement, I suspect Fountain would kick that payment card payment method to the curb.
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