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Which cryptos are scams and why?
Which ransomware doesn’t use crypto?
Stripe Crypto
101–110 of 450 posts
Re: Stripe Crypto
#102Just recently moved from Stripe to Paddle after realizing their new tax collection stuff locked out a bunch of my customers--it only supports credit card transactions, not Apple Pay or Google or any of the EU payment options, and Stripe has no ETA on fixing this. With the tax bits, I still have to file and worry about thresholds too, so I switched to Paddle. On top of completely eliminating the tax remittance crap, I…
Is Paddle still Only open to SaaS only ? Last time I check they won’t even accept any other business.
If by SaaS you mean subscription, then no. I sell one-time software purchases through them.
Re: Stripe Crypto
#103The main point of crypto these days appears to be to replace the current middlemen with different middlemen who can make more profit while offering the consumer much less legal protection. It's a bit concerning.
or more protection, depending on your perspective. I'd think russians wanting to interface with US services right now would find crypto offers more protection than fiat. Further, I know a few small businesses that have had large sums of money locked up by services like paypal without any communication. Crypto also provides far more protection from issues like that.
Except any company facilitating this would be in violation of US sanctions. No way Stripe-crypto is going to be a 1-click money laundering tool
Re: Stripe Crypto
#104The main point of crypto these days appears to be to replace the current middlemen with different middlemen who can make more profit while offering the consumer much less legal protection. It's a bit concerning.
> The main point of crypto these days appears to be...
Maybe you can ask people who get their funds randomly blocked and restricted by PayPal and seized for months/years while an "investigation" takes place if there's any use-case for crypto.
Maybe you can ask ordinary Russian citizens what their legal protections are worth once they've been un-personed by the world.
Or perhaps you can ask Canadian mandate protesters what their legal protections in their currency are worth at their bank middlemen.
Re: Stripe Crypto
#105Important to note that Stripe has NOT announced any crypto/blockchain/NFT products or tech of its own.
The only news here is that Stripe is letting crypto companies use their various fiat processing services, now that they feel comfortable that they can legally do so. Confirmed by pc's comment [1]
Re: Stripe Crypto
#106I find the sheer volume of anger and hatred surrounding this and other related announcements completely unhinged. Why are so many people threatened by services that give their users options?
Because if Bitcoin specifically takes off it will force governments to balanced budgets, exposing a lot of hidden corruption. Detractors cherry-pick concerns about energy usage, but never show the energy usage of the existing system for comparison.
You’re suggesting that these HN readers are criticizing crypto because they’re trying to keep government corruption under the rug?
Re: Stripe Crypto
#107I find the sheer volume of anger and hatred surrounding this and other related announcements completely unhinged. Why are so many people threatened by services that give their users options?
I feel like I am engaging with a bad faith critique for the purposes of good faith discussion, which is a mistake, but OK, here goes:
Some businesses in the UK have banks that say they will close their accounts if they accept cryptocurrency payments. Mine does! I would without hesitation lose my business bank account if I did, because I am a trifling small customer.
Stripe was safe and reputable, but now it is a place where you can accept cryptocurrencies.
Edit: see note below.
I'm not currently clearing payments via Stripe for my own business, but the way I understand it, it's now likely to mean increased scrutiny from my bank about those payments when I do.
I'm not sure if it has rolled out in the UK yet. But if it has, will my bank be clearly informed when a payout was *not* the result of a cryptocurrency transaction? I've not read that far yet.
Either way it's reputational damage hassle people do not need.
And before you ask: I am of course comfortable with that bank policy. Because cryptocurrency is consistently crime-adjacent and fraud-adjacent. And it's not like banks are that well-equipped at dealing with old-fashioned frauds that have been around a century, let alone new frauds that have been around mere days.
--
Edit to add: apparently this document is not meant to communicate that cryptocurrency payments can be accepted. Which is not what the screenshots in the page do, IMO.
Though the fact that Stripe will allow NFT exchanges is more than enough to create reputational risk.
I still expect to have more difficulty when I add Stripe payments.
Re: Stripe Crypto
#108The main point of crypto these days appears to be to replace the current middlemen with different middlemen who can make more profit while offering the consumer much less legal protection. It's a bit concerning.
or more protection, depending on your perspective. I'd think russians wanting to interface with US services right now would find crypto offers more protection than fiat. Further, I know a few small businesses that have had large sums of money locked up by services like paypal without any communication. Crypto also provides far more protection from issues like that.
I don't know how this applies to their crypto offering, but:
> Stripe currently does not support users located in Russia, Ukraine and Belarus. While users with direct or indirect activities involving Russia, Belarus, and Ukraine are not broadly considered prohibited by Stripe at this time, all major credit card networks have announced that they are ceasing services to Russian financial institutions. Additionally, Stripe will not process transactions involving sanctioned Russian financial institutions and does not support Mir. This means transactions involving Russian-issued cards are likely to be unsuccessful. We encourage you to ensure compliance with relevant sanctions regulations in your jurisdiction.
https://support.stripe.com/questions/impact-of-sanctions-on-...
Re: Stripe Crypto
#109This page is more useful: https://support.stripe.com/questions/crypto-supportability-a... Basically can sell crypto for KYC backed cash in the US. No credit cards. No paying in crypto?
Thanks for puncturing the silly hype.
Re: Stripe Crypto
#110Just last year Stripe wouldn't even allow any crypto business to be their customers. You could not use Stripe if you business was crypto related. A client of mine had to switch implementation to checkout.com because of that. I wonder what changed...
while the crypto community wants to avoid as much regulation as possible, it's important to realize that sensible regulation is a boon to the industry as it clears a path to allow institutions and traditional FinTech companies to hop onboard.
So, the timing of this Stripe announcement could be related to the Biden EO: https://apnews.com/article/biden-cryptocurrency-executive-or...