Comment by idiotsecant
2 months ago
I think that there's very little reason to suspect that a rent-seeking middle man getting a bigger piece of the pie is in any way good for the efficiency of the value transfer system, first order or not. You're kind of crab-walking around making a point here.
If credit card networks disappeared today, would we want them back? If the answer is yes, then they deserve a fee. Unclear to me why a certain % is morally correct.
The correct % is the minimum amount required to sustain the service.we know what that amount is from countries with sane regulation.