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This is why we need a decentralized Internet payment system, like email. This was a non-controversial opinion not long ago.
I work at Stripe. Could you email me at edwin@stripe.com and I can dig into this?
Stories like this are why ultimately all payments will transition to crypto based and self custody. Having your livelihood at the whim of an algorithm is not only not cool. It is not sustainable. None of the legacy payment rails can be trusted to run without interruption. This includes Stripe, paypal and even the expected FedNOW service being introduced next year.
Yeah!
> all payments will transition to crypto based and self custody
But... but... you said...
This is why we need a decentralized Internet payment system, like email. This was a non-controversial opinion not long ago.
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This victim blaming has to stop. These companies shouldn't be able to just shut down an account like this, especially for something so critical and core to a business survival. We shouldn't have to live in a world where you need multiple backups for every service you use in case one decides to fuck you over for no good reason!
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This is more a function of the fact that I don't want my business to be identifiable from this post than that it's a sketchy business. You'll have to take my word for it, but it's exceedingly benign.
I believe you, but I was also triggered by this line here > They know exactly who our customers are and what services we offer, and have approved it as such. which sounds like you offer services out of the ordinary.
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Crypto is not at all decentralized.
I mean I love supporting startups, and YC, but Stripe has a $100b or whatever valuation... They'll be cool.
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It does matter if it actually violates the TOS, or could be vaguely interpreted to do so I guess?
They did say they had been running the business for several years and have prior discussions with Stripe about TOS on file.
How many companies using Stripe have had multiple conversations about the TOS? I would guess it’s a minority. Not a topic anyone is usually excited to talk about.