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Stripe is no longer a suitable payment processor
111–120 of 145 posts
Re: Stripe is no longer a suitable payment processor
#112Earlier quoted context omitted.
USDT, USDC, Ethereum, Bitcoin are trusted round the world. It’s not like the latest memecoin garbage
Another downside of these alternatives is that they are not decentralized either. USDT and USDC are controlled by a single entity each. The top 0.01% of Bitcoin holders own 27% of all the Bitcoin [0], and even worse, the top 0.1% of Bitcoin miners control half of the miner capacity [1]. I am not sure about Ethereum, but as in any pure capitalistic system, the accumulation of wealth by a few is inevitable [2]. [0] htt…
“Controlled” is a strong word considering that there is no master key that can just misuse all the tokens secretly the way that FTX or Celsius did. Everyone gets their own key, to move their tokens.
Even if Ethereum comes to be controlled by a few people, their incentives are not to kill the value of their own ecosystem (unless they are a state actor, or if all Ethereum tokens are somehow bought out completely by Elon Musk lol). And the only way the blockchain can get screwed is by miners ALL agreeing to refuse to mint new blocks. Or miners could re-order transactions within a block, which they already do. That’s it.
Now you could say that the dollar reserves of USDC are controlled by one company, and I agree. Even though USDC is run by Circle which is a regulated company that can pay out with no slippage to your bank account, and receive dollars the same way. They are one step away from banks and may even get insurance and reinsurance similar to FDIC.
But you may still not want to see one company be the gateway. That’s why we started the Intercoin project, to make a truly decentralized ecosystem including decentralizing the gateways too (just like the Internet is).
But for today, it’s already no different than any bank in the Free Banking Era, which is how the United States did almost all of its money all the way before the greenback. As long as the music is on and the musical chairs are moving, your $500 in tokens that you use for your consumer purchases is safe.
Re: Stripe is no longer a suitable payment processor
#113Earlier quoted context omitted.
That is very outdated text, — 09/05/2023 00:16, we changed directions 2 months ago and we already had a notice about this from stripe and this is the main reason we decided to pivot directions... but yes we do not do NSFW, that was just an outdated text since that was 3 months ago, since I've been busy I did forget about that but I will change it, but that isn't the issue I'm having with stripe, the issue is them clo…
The knives argument holds no water. I think Stripe would be in the right regarding NSFW content as it relates to their TOS (maybe at fault for using outdated info and not communicating with you so you didn’t have to find out this reason on HN).
And yet, nsfw content is not fraudulent charges.
Re: Stripe is no longer a suitable payment processor
#114Earlier quoted context omitted.
It isn’t this OP specifically who has put me off. It’s the large number of people over the past few years who have reported issues such as Stripe holding their funds hostage for extended lengths of time, and their inability to get meaningful support through the official channels. (I’ve seen Edwin step in to HN threads to fix some of these cases, but the thought of relying on my problem hitting page 1 of Hacker News i…
I hear you! Things are often posted here to try and overturn decisions that were correctly made (see https://news.ycombinator.com/item?id=34274059 ). We still keep an eye out to make sure we aren't making mistakes (because they can of course happen). Also, your post doens't need to hit HN to get meaningful support—we have 24x7 support via chat/phone/email and via @stripesupport on Twitter. If your business doesn't fa…
If the problem gets fixed, then by definition the decision was not correctly made.
The more you say in this thread the more you prove the critics points.
Re: Stripe is no longer a suitable payment processor
#115Earlier quoted context omitted.
I hear you! Things are often posted here to try and overturn decisions that were correctly made (see https://news.ycombinator.com/item?id=34274059 ). We still keep an eye out to make sure we aren't making mistakes (because they can of course happen). Also, your post doens't need to hit HN to get meaningful support—we have 24x7 support via chat/phone/email and via @stripesupport on Twitter. If your business doesn't fa…
If the problem gets fixed, then by definition the decision was not correctly made. The more you say in this thread the more you prove the critics points.
Not sure what you mean? OP's business isn't supported on Stripe. We communicated that to them two weeks ago, and reiterated that today.
Re: Stripe is no longer a suitable payment processor
#116As a side comment, it’s unfortunate to see the hatred on this site towards those building decentralized permissionless payment networks. I don’t think some company should be able to decide whether Americans can or cannot transact.
That hatred is obviously completely justified. The reasons are no longer deniable predictions or fear but many years of observed reality by now.
I agree there should be no single capricious arbiter, but "web3" and all it's scammer bros has turned out not to be a better answer.
Re: Stripe is no longer a suitable payment processor
#117Earlier quoted context omitted.
If the problem gets fixed, then by definition the decision was not correctly made. The more you say in this thread the more you prove the critics points.
Not sure what you mean? OP's business isn't supported on Stripe. We communicated that to them two weeks ago, and reiterated that today. https://news.ycombinator.com/item?id=36969195
Many times people do get the "decision overturned".
Pretending not to know this is yet more of what I mean by "the more you talk the worse Stripe looks"
Re: Stripe is no longer a suitable payment processor
#118Earlier quoted context omitted.
That is very outdated text, — 09/05/2023 00:16, we changed directions 2 months ago and we already had a notice about this from stripe and this is the main reason we decided to pivot directions... but yes we do not do NSFW, that was just an outdated text since that was 3 months ago, since I've been busy I did forget about that but I will change it, but that isn't the issue I'm having with stripe, the issue is them clo…
The knives argument holds no water. I think Stripe would be in the right regarding NSFW content as it relates to their TOS (maybe at fault for using outdated info and not communicating with you so you didn’t have to find out this reason on HN).
Knives argument was correct in the fact that stripe should decide to punish businesses for the production of user generated content that they cannot prevent. putting restrictions on it will not work, ask sam altman how restricting GPT4 is going, you cannot beat the people at censoring your technologies, so penalizing the business for something out of their control is stupid.. and as for the stripe being in the right, they have let popular NSFW content platform Onlyfans operate on their site before.. not sure if they do so now but they have allowed Onlyfans on stripe.. so ToS is out the window when the most popular NSFW selling content site is on stripe
Re: Stripe is no longer a suitable payment processor
#119Earlier quoted context omitted.
Thanks for sharing detail about your business publicly—I'm sorry we can't support your business. Per our terms of service, adult content and services are prohibited ( https://stripe.com/legal/restricted-businesses#:~:text=Adult... ). This was already communicated to you. From your Discord channel ( https://discord.com/invite/cupidai ): "CUPID AI is a smart AI-based NSFW and SFW subscription entertainment and content…
Have you found this out just now, is this the actual reason they were blocked and was this communicated to them clearly? If this is not the root cause then pointing this out as part of this conversation is misleading. If it is, why was it necessary for OP to find this out on HN?
NSFW wasn't the reason I posted here.. I don't care enough to post here about something like that, I don't like posting and making noise about things.. the reason I posted her was due to the fraudulent charges claims.. they wanted to close my accounts based on no information, they didn't provide me with any proof or information to back what they claim up.. I, on the other hand had multiple screenshots proving that my chargeback rate was 0, I used the default radar settings and I had 0 blocks on stripe, so if anything it's stripe that has issues.. this has nothing to do with the NSFW thing, I had no NSFW block on my account as you see in the screenshots
I had messaged support 5 times before posting here, I had been declined the appeal once and I was not going to allow myself be bullied off the site for a mistake they made
Re: Stripe is no longer a suitable payment processor
#120What is the alternative to these large corporations? I will try to say it again… Web3. Easy to integrate as an option, start accepting payments worldwid, and you can never get deplatformed and your funds won’t be frozen. Why not? Over and over I see HN complain about enshittification of the latest large platform, but also somehow many people knee-jerk downvote anything about the decentralized alternatives because the…
My parents, which represent an average person nowadays, do know how to put card data into a site to pay something. What they don't know is how to pay with crypto, even more- for them cryptocoins= automatic scam. Web3 can be a nieche solution for some nieche ppl, but I don't see how it can become mainstream now, as a business you anyway need a classic payment processor bc too few ppl know what is crypto and how to use…
You don’t have to get the whole world, just people who have crypto — which is millions of people!