Quoted post unavailable.
With defi, if your money falls through the cracks of automation you can kiss it goodbye -- it's gone for good. At least here there's a chance of a resolution.
Stripe has decided to nuke my entire business
51–60 of 705 posts
Re: Stripe has decided to nuke my entire business
#52Quoted post unavailable.
No - this would be an example of GETTING fucked by a company, BECAUSE you trusted them. Which is exactly the kind of thing we write laws about; you shouldn't be able to get fucked because you believed what a company told you. You should only be able to get fucked by a company because you agreed to the penalties of how they intended to fuck you, should you break that agreement, and proceeded to intentionally and/or maliciously break that agreement.
Consumer protection is "good, actually", and while a financially robust entity is always better served by having options and backups, it's reasonable to assume that those luxuries are not available to everyone and should thus not be the expected modus operandi of a standard enterprise.
Charitably, I'll assume you meant "you should have other methods, as backup", which is decent advice. It's just really shitty when you frame it as a default expectation that was "fucked up".
Re: Stripe has decided to nuke my entire business
#53Just switch to a different merchant. This entire post seems weird to me because it seems like you are doing nothing here but just being a middleman in between Stripe and people who need to process payments lol. Why cant they just enable Stripe themselves?
>So currently, my product doesn't work for 35% of my customers. Cue torrent of pissed off customer emails.
Okay? You should have always had a plan for this bc its bound to happen eventually. Switch them to a new merchant or drop them as clients and take the heat. The cost of just being a middleman.
Re: Stripe has decided to nuke my entire business
#54Earlier quoted context omitted.
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.
Are you sure it's not a medium risk business that IS benign, but STILL is considered medium to high risk? For example, selling video game digital products like a strategy guide is benign, but gaming industry is ripe with fraud so most processors will give you shit if you're in the gaming niche, let alone (non-crypto) digital currencies, crypto, health products, non-snakeoil supplements, etc.
Even if this is the case, it doesn't mean that Stripe should just be able to turn off a 3rd of the guy's business with no warning or reason. If they don't like what he's doing, tell him and give him notice to switch to another provider rather than just tanking his business over night.
Re: Stripe has decided to nuke my entire business
#55This is why we need a decentralized Internet payment system, like email. This was a non-controversial opinion not long ago.
Your sentence caught me off guard, maybe I am reading it wrong. Do you mean email as a payment system, or do you mean email as an example of a decentralized system?
The latter - a system that is like e-mail (decentralized) but allows people to send money to each other.
We have many such systems being developed, but you get downvoted on HN for promoting them, since people assume you are a scammer, a criminal, etc.
Re: Stripe has decided to nuke my entire business
#56This is bad.
There are more and more Stripe horror stories like this, and from an outsider perspective it looks awfully like PayPal behaved back in the day (probably still does but I'd never touch it again as a merchant).
I have positive experiences with using Stripe in my last startup and we're currently building Stripe integration on another, which will process about 50% of our revenue (the other payment method being direct wire transfer).
There might be just a tiny minority of people that end up treated like this, but with every story, I'm less confident about our move.
Re: Stripe has decided to nuke my entire business
#57I work at Stripe. Could you email me at edwin@stripe.com and I can dig into this?
You should ask OP first for their email; right now anyone can email you claiming to be OP.
Re: Stripe has decided to nuke my entire business
#58Quoted post unavailable.
It was just last month that all of the big players in the cryptocurrency space blacklisted all addresses that have ever interacted with TornadoCash from using their services, essentially transforming that monopoly money into even less than monopoly money. Crypto is not at all decentralized.
Uh, yes if you use Circle (centralized), Coinbase (centralized), etc etc. Get your coins off of exchanges and learn how to actually use crypto with the way it was intended.
Re: Stripe has decided to nuke my entire business
#59It sucks this happened to you, but like with all the PayPal hate stories, I notice you're very careful not to describe what type of business you operate.
The post does note that Stripe has been supporting this business and these customers for years.
If for some reason Stripe wants to withdraw that support, they must give their reasons and a proper period for transition to another provider.