201–210 of 450 posts
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We're just calling it what it really is, what is wrong with that?
> isn't a pyramid scheme BitConnect was an actual Ponzi scheme. I don't see how buying my coffee with DOGE counts as a "predatory investment opportunity."
All scams.
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If you're asking in good faith, it's market manipulation. In your own words, can you explain the difference between, say, a Ponzi and a pyramid scheme? Pyramid and a matrix? Or do you use "pyramid scheme" to just mean "scheme?"
Okay, it may not be a pyramid scheme in the exact technical sense, but combined with the other items on the list, "get-rich-quick", etc., I think pump-and-dumping shitcoins counts, right?
Pump-and-dump schemes fall under the "get-rich-quick" language, but I don't see what this has to do with the details of this specific announcement.
I'm sure this will go very differently from the last cryptocurrency bubble, where a whole bunch of merchants started accepting them, just to realize half a year later that beneath the hype, nobody was really interested in using these so-called currencies as an actual currency and quietly shelved it.
Bitcoins original goal was to be an online currency, this has not transpired nor do I think it ever will which is why I (unfortunately!) got out. Talking to random people on the street the main feeling I'm getting now is as some sort of gold analogue, which I also think is doomed to fail. I just don't see Bitcoin growing out of it's main use which is criminality and unregulated gambling.
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> Updated March 10, 2022 Did they just update this after you pointed this out?
For me, Google's cache of the page[1] does not contain that and says a timestamp of 10 Mar 2022 01:35:20 GMT. [1]: https://webcache.googleusercontent.com/search?q=cache:cKDBTS...
Also, it's quite possible others pointed this out (the Stripe team in general has great attention to detail!) and updated the page.
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> isn't a pyramid scheme BitConnect was an actual Ponzi scheme. I don't see how buying my coffee with DOGE counts as a "predatory investment opportunity."
Ask Elon's manipulation tactics of that specific dog coin and it's derivatives like SHIB. All scams.
> All scams.
"All" meaning those 2?
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Perhaps I am overcautious. But today Stripe changed its Twitter icon to an NFT , which is like a Belisha Beacon for idiocy, isn't it? Why any business that is serious would -- in March 2022 -- produce publicity or support materials that mention being able to sell NFTs, I do not know. It's very stupid.
While I largely share your feelings about NFTs, I think the general population outside of HN sphere does not. I’d hedge my bets on this one, I’ve interacted extensively with the massive art market and NFTs really seem like a natural fit.
I don't know. I know a fair number of artists/musicians/photographers and I can tell you that among those artists, the impression of NFTs is almost universally negative.
I would bet that more people think NFT is close to a "giant, planet-killing scam", which is hyperbole but on the side of caution.
I would hesitate building any business on Stripe. However, if you are considering using Stripe Crypto, build the integration it in a way that you can easily migrate away.
We built our credit card processing and invoicing on Stripe. We've only processed $2.5m and now we are migrating away. We are 2 months into the migration.
It's worth the migration cost, working with Stripe has been an absolute nightmare. Really wish we had built our billing system differently... and not with Stripe.
They forgot to update their terms of service. > Prohibited Businesses > You must not use Stripe’s services for the following activities: > * Pyramid schemes > * ‘Get rich quick’ schemes > * No value added services > * Predatory investment opportunities
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It's very strange seeing the option near the bottom of the page to donate a fraction of your revenue from Stripe Crypto to carbon recapture efforts. I agree with Stripe that, at this point, the solution to our climate problems must include carbon recapture, but it's not an ideal situation to be in. Businesses entering the crypto space always seem to tout carbon offsets and sidechains that use less energy, but offsets…
That's not necessarily true -- it depends on the marginal costs of each. Right now carbon capture is pretty expensive, but I can see that potentially changing with more investment put into it, which is what Stripe is trying to do.