29 ms·

Stripe Crypto

413 points by seabj0rn 5y ago

orangepanda 5y ago
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
- TAKEMYMONEY 5y ago
  - colesantiago 5y ago
    We're just calling it what it really is, what is wrong with that?
    - TAKEMYMONEY 5y ago
      > 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."
      - colesantiago 5y ago
        Ask Elon's manipulation tactics of that specific dog coin and it's derivatives like SHIB. All scams.
        TAKEMYMONEY 5y ago
        (Ask his tactics?) That's market manipulation. > All scams. "All" meaning those 2?
        colesantiago 5y ago
        TAKEMYMONEY 5y ago
        Presented without evidence, dismissed without it.
        colesantiago 5y ago
        Then why do they need a price attached to the coin? It seems that speculators are the majority use case for this virtual casino.
        deleted 5y ago
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        unreal37 5y ago
        You keep using the word scam. I don't think it means what you think it means. ;) If two people want to send some bits between each other, and they both know what they're doing, it's not a scam. It may be risky, it may be unwise, it may be speculation... but scams involve deception between the receiver and the sender. And crypto is equivalent to dollars in this sense.
        uoaei 5y ago
        It's not a scam as long as you stay in crypto-space. Then one token equals one token and there is no concept of value beyond that. It is a scam in the traditional sense of failing to deliver expected value, since we want crypto to carry value and thus people still expect to be able to use crypto to buy things. The rub is that prices of things are still typically tied to fiat currencies, even if expressed as crypto prices. E.g., buying eggs with crypto depends on the price of the eggs, which is almost always controlled by the global economic order which is essentially governed by the (petro-)dollar, because of the economies of scale that have grown around egg production and distribution. The only reason any plausible deniability still exists about this basic feature of the crypto space is that crypto does not concern itself with participation in economies of scale, and the prices set in crypto-space are essentially just in crypto-space (even if all the reporting equates buys of NFTs, etc. to equivalent fiat amounts). One could say this is the ideal, but when the source of that value-as-expressed-in-crypto is value-as-expressed-in-dollars, you are siphoning realizable value from naive folks in a way that is functionally indistinguishable from a scam.
  - fmvab 5y ago
    Wait, isn't that exactly a pyramid scheme?
    - TAKEMYMONEY 5y ago
      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?"
      - fmvab 5y ago
        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?
        TAKEMYMONEY 5y ago
        It's not a pyramid scheme in any sense. 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.
        fmvab 5y ago
        ‘A pyramid scheme is a fraudulent system of making money based on recruiting an ever-increasing number of "investors." The initial promoters recruit investors, who in turn recruit more investors, and so on. The scheme is called a "pyramid" because at each level, the number of investors increases. The small group of initial promotors at the top require a large base of later investors to support the scheme by providing profits to the earlier investors.’ Come on, many crypto projects don’t seem like this in any sense?
        Dylan16807 5y ago
        That's a bad definition. The key characteristic of a pyramid scheme is that each person gets paid by the people they recruit. If there is a global FIFO, that's a Ponzi scheme. A pump and dump is something else entirely. It doesn't depend on an infinite series of investors, just one wave.
  - PUSH_AX 5y ago
    It's “greater fool” theory at best.
    - TAKEMYMONEY 5y ago
      yes yes and let's not forget tulip mania! Did you know that DRUG DEALERS use crypto?!
      - cuteboy19 5y ago
        Is there a rebuttal? Greater fools scheme is a valid criticism, can't just handwave it away everytime
        TAKEMYMONEY 5y ago
        > Greater fools scheme [sic] is a valid criticism Did you mean greater fool theory? That's not a financial scheme that's listed under Stripe's ToS (our context). Are you arguing in good faith that Stripe should update the Prohibited Businesses section of their ToS based on what you said?
        mattdesl 5y ago
        presumably a Stripe service built on ERC20 would support stablecoins (DAI, RAI, USDC), which will be pretty central to many crypto-commerce businesses. there is no greater fool in these closed systems. source: I am selling art prints via stablecoins as a payment option for interested customers, but I’m manually handling the transactions, invoicing, and accounting (Stripe crypto could be an option for a small business like me).
      - exdsq 5y ago
        Tulip mania wasn't even that big a thing. Lasted a few weeks and consisted of a couple traders trying out new speculative financial instruments.
  - kache_ 5y ago
    been a while since I heard "DAE"
- rmbyrro 5y ago
  You know they use Dollars, Euros, Pounds, etc as well for all of these scams. Should Stripe ban businesses that deal in Dollars, Euros, Pounds, etc?
- atlantas 5y ago
  Serious question: Do you think pyramid schemes, get rich quick schemes, no value added services and predatory investments are new?
zxienin 5y ago
stripe: “we got to do crypto, or we lose talent“ is it one of those things? I hear talent exodus to “anything crypto, web3“ is getting real
colesantiago 5y ago
- 10x-dev 5y ago
  It is not established that cryptocurrencies in general are scams. I could make my own cryptocurrency and use it for completely legitimate reasons.
  - topranks 5y ago
    Sounds like a scam
- dang 5y ago
  Please don't start yet another instance of the same old generic flamewar on HN. The issue isn't whether you're right or wrong, it's that we've had this flamewar hundreds of times already and nothing new comes of it. That makes if off topic for this site, which is supposed to be for curiosity. Curiosity withers under repetition and fries under indignation. https://hn.algolia.com/?dateRange=all&page=0&prefix=false&sort=byDate&type=comment&query=curiosity%20repetition%20by:dang https://hn.algolia.com/?dateRange=all&page=0&prefix=false&so... https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
  - colesantiago 5y ago
    But this is a valid question? I am sure other Stripe customers are upset with this as much as I am to call it what it is. Are you going to flag them too?
  - exdsq 5y ago
    Happy to see you’re taking this approach now Dang. It’s really killed a lot of threads and I hope conversations can now go up a level to the technical uses rather than generic ‘ponzi scheme’ claims.
    - colesantiago 5y ago
djrobstep 5y ago
harel 5y ago
Just 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...
- jhatemyjob 5y ago
  What changed is, someone very powerful said this: "One of my incredibly big misses over the last decade was not buying enough Bitcoin. At $60k per Bitcoin, I'm still not sure if one should aggressively buy it, but surely it is telling us that we are at a crisis moment for the Fed."
  - fuzzybear3965 5y ago
    I searched for who said this but came up empty. Where is this quote from?
    - cshenoy 5y ago
      Pretty sure it was Peter Thiel. https://sports.yahoo.com/tech-billionaire-peter-thiel-says-160721658.html https://sports.yahoo.com/tech-billionaire-peter-thiel-says-1...
      - fuzzybear3965 5y ago
        Thanks for the link. I didn't find that quote in the article, but maybe it was in there. If it's not in there then it's crazy that you linked that article saying "Peter Thiel" - another commenter said the same thing. If it's in there then it's weird that my quoted Google Search didn't yield at least that article.
      - clpm4j 5y ago
        And pretty sure by "not enough" he means only bought single digit 1000s of bitcoins rather than hundreds of thousands or millions of bitcoins.
    - deleted 5y ago
candiddevmike 5y ago
Just 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 also have PayPal support now (highly requested by customers, especially international).
- ksec 5y ago
  Is Paddle still Only open to SaaS only ? Last time I check they won’t even accept any other business.
  - mherrmann 5y ago
    If by SaaS you mean subscription, then no. I sell one-time software purchases through them.
    - ksec 5y ago
      I mean something non-Software. I quite like their overall model and integrated experience. Along with Paypal support, while not getting any mention much in tech cycle it is surprisingly popular.
  - candiddevmike 5y ago
    I am a SaaS but I sell a lifetime subscription as a standalone product, works fine with Paddle.
- ttoinou 5y ago
  > their new tax collection stuff Couldn't you turn that off ?
  - hutzlibu 5y ago
    I know, that for setting up my stripe account, I HAD to provide a credit card number, which I did not had, as they are not needed in EU.
rvz 5y ago
This doesn't come as surprising since they have timed this with Biden's executive order on regulating cryptocurrencies, so this is probably why you are seeing Stripe pushing Crypto right now. Also, all smaller cryptocurrency on ramp businesses are doomed.
BoorishBears 5y ago
My respect for Stripe plummeted when I reached out about a closed API and got a passive aggressive answer from support. I don't think I've ever gotten that kind of rude sarcasm/passive aggression from a simple support inquiry, and I vowed never to use their services again. Their competitors to this specific API were much nicer to work with and onboarded us after some basic introductions, so part of me wonders what other fronts Stripe has better but less well known competitors on.
- deleted 5y ago
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- ndr 5y ago
  Can you share the API/competitor?
  - BoorishBears 5y ago
    Marqeta, Treasury Prime, Synctera All companies that actually spoke to us and assisted when Stripe Treasury essentially said "why are you bothering us?"
- sodality2 5y ago
  Can you post the reply? I'm curious about what they said.
  - BoorishBears 5y ago
    Sure, I inquired about the API, and got a templated reply that simply repeated the API's landing page I replied saying I'd be interested in knowing what they're looking for in potential beta partners: > That is good to hear. All you need to do is follow the instructions listed in my previous email and wait on contact from the Treasury team. I am happy I was able to assist you. > Thank you for choosing Stripe! Keep in mind the "instructions" are to fill out the form that got me into this email chain in the first place: in other words there's nothing about what I asked there. There's the whole "That's good to hear" reply to a question I asked... And I was especially taken aback by the whole facetious "happy I was able to assist you" bit after completely ignoring my question. - The entire interaction felt like "why are you bothering us", which is honestly would be a fair position if they're looking for established players for example... but why not be direct? We had other companies flat out say their partners want X million in funding before they'll work with you, and that was fine. It'd actually take less work than writing out a non-answer like that
chinathrow 5y ago
Oh please. Long time Stripe fan and customer here - this makes me sad from the inside. They even mention NFT marketplaces - scams all over the places. Why would they want to support use cases like that?
- sodality2 5y ago
  > Why would they want to support use cases like that? Money? They are a business
  - floodyberry- 5y ago
    > They are a business with poor ethics
- fmvab 5y ago
  Because there is money to be had, and people like money.
simonbarker87 5y ago
I just spent 12 months investigating crypto. I bought come coins, got lucky on that ENS airdrop, made a smart contract, bought an NFT, learned some Solidity, joined some Discords, listen to some podcasts, set up a miner and generally tried to learn about this area. 2 weeks ago I left all but one discord, unfollowed all Web3 specific accounts on Twitter and stopped looking at Binance etc. My life has improved considerably. I’m sure someone is getting rich in there but I can’t work out who or how amongst the hype, pumps, grifters, scams and outright criminals. I’m ok missing the boat if it turns out to be any more than a raft. My sanity and concentration is worth far more than whatever rubbish they are all peddling.
- muttantt 5y ago
  If you got into crypto in 2021-22.. you already missed the boat. This is the cashing out phase.
  - coconut08 5y ago
    people have been saying this since 2011. thats not to say that the speculation that is taking place in crypto isnt ridiculous and destructive, but your claim is completely unfounded
    - muttantt 5y ago
      The risk reward ratio is just not there anymore. We may see $100K bitcoin, sure, but that's just 3x, you can get that buying and holding TSLA starting today. But IMHO the risk of bitcoin crashing to, say, $10K is pretty significant, especially when Russia sanctions could be used as pretext to regulate crypto to death.
      - joshgachnang 5y ago
        Sure, but that's only looking at BTC. There's a lot of other coins still jumping a 100-1000x in this bull run, even if BTC only went up a few times. The point about it all crashing is true though, high risk-high reward (and that risk likely outweighs the reward for BTC in my opinion).
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atlantas 5y ago
I 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?
- eclipxe 5y ago
  HN hates everything.
  - knownjorbist 5y ago
    It's wild, considering the cryptopunk thing is happening _now_, not in the 90s.
    - o_____________o 5y ago
      The tech world is full of dreamers and know-it-alls. Proto-HN Slashdot is a great historical document of our malignant naysaying.
  - stimpson_j_cat 5y ago
    It would be great to have a place to have engaging discussion regarding Y-Combinator-backed startups that good hackers would find interesting.
- infamouscow 5y ago
  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.
  - tehnub 5y ago
    You’re suggesting that these HN readers are criticizing crypto because they’re trying to keep government corruption under the rug?
  - 5y ago
erulabs 5y ago
Am very glad to see this - was considering adding Coinbase's Commerce product due to quite a few requests to accept BTC payments for our hardware at https://kubesail.com https://kubesail.com - I suppose we have an extremely privacy focused user-base currently. Since we already use Stripe, I would be very glad to simply "enable bitcoin" as a payment method and leave it at that. Somewhat sadly, I was quite involved in web3 several years ago when the web3.js project was very young - so I have mixed feelings about being glad "someone else is gonna handle it for me". I suppose in the last 5 years I've gone from "Not your keys, not your coins!" to "I just don't want to spend a ton of time on this". Does that mean crypto has failed to live up to the dream or does that mean it's finally boring enough for old-business-owner-me to make use of it? I can't quite decide! I am a former Stripe employee, so I am quite biased, but I'll just say: In my experience, if the Collison brothers do anything - you'd be a fool to think it's not extremely well thought out. If I hear a rhyme I assume there is a damn good reason.
- traveler01 5y ago
  If you want to accept cryptocurrency payments and want a privacy focused service you can try Cryptapi...
  - rsstack 5y ago
    Not to be negative, but when evaluating financial services CryptAPI are failing most checks: - Three employees on LinkedIn, none with a background in finance, security, accounting, etc. - No audited security certifications (PCI DSS doesn't directly apply, but there should be _something_ that shows that _someone_ checked their processes/code/infrastructure for reasonable best practices) - No fraud protection or anything like that. This could be nice for a crypto-only side-business that someone is running, but it can't be used by a serious company that needs to supplement their non-crypto payments with a crypto payments option.
    - dmak 5y ago
      Not saying I don’t agree with you, but a lot of fiat measures or security certs are based off the weaknesses of tradfi. I am guessing that crypto payment processor requires a much thinner layer of trust and leverages a lot of the underlying blockchain technology without having to build more glue around it.
henning 5y ago
samch 5y ago
Slight tangent: Maybe it’s just me, but I’m somewhat uncomfortable with the label “crypto” being co-opted as official shorthand for cryptocurrencies. I see how it’s a natural truncation of a long term, but to many of us the word crypto can mean many other things. When I saw the headline, I wondered if they had released their own cryptographic library or something else to that effect.
- SketchySeaBeast 5y ago
  It's really unfortunate. But I guess it's better than shortening it to "currency" because that would imply it has actual value.
  - danuker 5y ago
    What is actual value to you personally?
    - EamonnMR 5y ago
      Can be exchanged for goods and services.
      - knownjorbist 5y ago
        So crypto qualifies.
        dybber 5y ago
        Why isn’t this new Stripe thing then about being able to use Bitcoin when buying things? Or how do I use Coinbase for buying things? Try go to the coinbase website and look for how to buy things with your Bitcoin. What I read from the site is that it’s all about investing in the value going up, not about making payments to other people or businesses for services or purchases.
        colinmhayes 5y ago
ffritz 5y ago
- danuker 5y ago
  Is it a scam if everyone is in on it?
  - tchock23 5y ago
    16% of the US has owned/traded crypto. So yeah, everyone.
Shadonototra 5y ago
danielandrews43 5y ago
Some high quality humor on the page with "Cube Thingy 1", "Cube Thingy 2", and "Cube Thingy 3"
- edwinwee 5y ago
  And the Cube Thingies are real! https://niftygateway.com/collections/cube-thingies https://niftygateway.com/collections/cube-thingies
  - danuker 5y ago
    "Not yet Available". Aww.
    - edwinwee 5y ago
      Come back later today for minting time—open edition at 6:30 PM ET for two hours.
      - unfocussed_mike 5y ago
        I just want to say that the extraordinary unseriousness of this (and the NFT twitter icon, really!?) has convinced me that Stripe is through the looking glass, now. This is such a demoralising turn of events.
  - llsf 5y ago
    "We will not rest until 1 billion people are collecting NFTs." Is it Apr. 1st already ?
    - unfocussed_mike 5y ago
      Every day is April 1st now. More and more I am convinced that the weasel that crawled into the LHC and got itself killed only died _inside_ the collapsing time bubble it somehow created through an unspecified accident and in which we are now all living. Outside the time bubble, it scampered away and Brexit, Trump's victory, the Ukraine war and the Tiger King series never happened.
jonathantf2 5y ago
- danuker 5y ago
  Which cryptos are scams and why?
  - leifg 5y ago
    Which ransomware doesn’t use crypto?
    - danuker 5y ago
      Which ransomware doesn't use the Internet?
    - TAKEMYMONEY 5y ago
      All ransomware that existed before crypto?
      - leifg 5y ago
        Usain Bolt and I can run. Magnitude matters.
        TAKEMYMONEY 5y ago
        And ransomware was making a LOT of money before crypto, so we can't blame crypto for it. Magnitude matters.
        leifg 5y ago
        Estimated 5 billion in 2021. How much was it before crypto?
        TAKEMYMONEY 5y ago
JaimeThompson 5y ago
The 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.
- schleck8 5y ago
  How to participate in crypto? Just head to a privately owned exchange that might be traded at a stock exchange! Alternatively use a startup service that in turn relies on a privately owned backend that might as well go public at any point.
  - xtracto 5y ago
    Or get to localcrypto, localbitcoin, localmonero and find a peer who is willing to give you crypto for your cash.
    - samstave 5y ago
      CryptoBarter is here! So we simply ~~kill the batman~~ -- er... trade resources for resources, and determine a balance between what I am asking for vs your offer? Its amazing we need digital fn currency to algorithm this bullshit for us to maintain trust in such NOTES
    - schleck8 5y ago
      Which are run by private companies and take cuts don't they? Also last time I checked the rates on P2P exchanges are ridiculous for any trusted seller
      - valcron1000 5y ago
        At least on Binance there are no fees involved in P2P trading
- toolz 5y ago
  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.
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- deleted 5y ago
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ksec 5y ago
As expected, lots of people unhappy. RailsConf had to cancel a talk on web3. I wonder if Stripe will face the same pressure.
kyletns 5y ago
This is an obvious but very powerful move by Stripe. Stripe is attempting to allow any business to become a place you can buy crypto, which will be really important to remove Coinbase and other CEXs as the only consumer-facing platforms where you can get into the ecosystem. Of course, that just means replacing those CEXs with Stripe as the fully centralized service on the backend, and you can bet they'll be taking their cut! But anything that moves more money into crypto is good for the Web3 ecosystem. Which would, of course, only be a good thing if you considered growth of the Web3 ecosystem a good thing :)
pastor_bob 5y ago
This page is more useful: https://support.stripe.com/questions/crypto-supportability-and-availability-by-region 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?
- jessaustin 5y ago
  Thanks for puncturing the silly hype.
ATsch 5y ago
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.
- TomGullen 5y ago
  Used to be a big Bitcoin advocate, we accepted it on our website but removed it due to it just not being worth it for the odd sale with the extra accounting required. 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.
  - rufusroflpunch 5y ago
    I think you're not correct, your timescale is just too short. Monetization happens in three phases, roughly. First, it is the store-of-value phase. Anticipation of future value, based on past and present value, will cause people to hoard a good as a savings technique. Bitcoin is still in this phase. Usually when you say this on the internet, someone will come in and say "Oh, but Bitcoin's volatility makes it a poor store-of-value!" But again, it's short-sighted. Looking at the 200 WMA will easily demonstrate the store-of-value aspect of Bitcoin. Second phase is "medium of exchange". This is the thing people always point to and say that Bitcoin has failed. But it hasn't failed, it just hasn't reached it yet. This phase is started when a good becomes valuable enough that merchants begin to demand or incentivize payments in the good. As you mentioned, there are accounting, tax and technological impediments currently that make it less convenient to accept Bitcoin payments. These will be overcome with time, however, as the impediments are eliminated, or the value of Bitcoin makes it economically worthwhile to transact anyway. The final phase will be "unit of account". Once a Bitcoin circular economy starts, people will begin to think of prices in Bitcoin, instead of dollars, euros, etc. This may sound far-fetched to skeptics, but I consider this to be a near guarantee to happen eventually. Bitcoin's network effects and unique balance of incentives more or less ensures that it can't be killed, that everyone is better off participating in the network or they will be worse off in the long run.
Liron 5y ago
Important 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] [1] https://news.ycombinator.com/item?id=30629169 https://news.ycombinator.com/item?id=30629169
- edwinwee 5y ago
  Yes, the Stripe Crypto team started six months ago and the first step was to tune our fiat payment APIs to work with exchanges, on-ramps, and NFT marketplaces. Working on lots more, so stay tuned for more announcements very soon!
  - biztos 5y ago
    I would love to know how often real-world money is referred to as "fiat" inside Stripe.
    - chockchocschoir 5y ago
      "Fiat" does not mean "real-world money" as any money you consider "real" is "real". "Fiat" refers to money not backed by something physical, and it is not a new term that appeared from the cryptocurrency space (as many believe). The search trend, https://trends.google.com/trends/explore?date=all&q=Fiat%20Money https://trends.google.com/trends/explore?date=all&q=Fiat%20M..., seems to be relative stable since start of collecting trend data (2004), with slightly increasing volume as we get closer to today, but generally stable. More information: https://www.investopedia.com/terms/f/fiatmoney.asp https://www.investopedia.com/terms/f/fiatmoney.asp
      - asasidh 5y ago
        fiat means by decree. Bitcoin made the term fiat popular.
        5y ago
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siruncledrew 5y ago
That’s an interesting 180 degree turn from saying “no” to crypto support to now allowing crypto support. What regulations changed behind the scenes?
- lern_too_spel 5y ago
  If anything, with the recent executive order, I expect the regulatory landscape to change quickly to make cryptocurrencies even less desirable to support for payment.
StewardMcOy 5y ago
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 are insufficient, and NFTs minted on sidechains inevitably migrate to Mainnet, where they're just as environmentally destructive as any other NFT, or they fail. Stripe's carbon recapture efforts seem to be in the same category. Recapture is good, but not nearly as good as not emitting the carbon in the first place. If Stripe's support of crypto increases the use of blockchains, the overall impact of extra carbon emissions could very easily outpace all the carbon recapture they'll ever achieve. It's a shame. When Stripe announced their carbon recapture efforts, I was impressed by how sincere they seemed in finding solutions to climate problems. Next to Stripe Crypto, however, it appears to just be greenwashing. (And to head off the replies, I know all about proof-of-stake, but it's not relevant here. I'm unconvinced it will work, and even if it does, the ecological damage done and being done in the meantime is massive. If Stripe really cared about carbon emissions, they'd wait to launch Stripe Crpyto only on proof-of-stake blockchains, and only after they proved that the energy usage at scale was similar to the energy use for transferring fiat currency.)
- elefanten 5y ago
  The “ecological damage” is a rounding error and being mitigated in several ways. This is not a serious concern for cryptocurrency, despite how often and blindly its repeated.
  - StewardMcOy 5y ago
    This is not a convincing argument, but even if it were, carbon recapture is currently even more of a "rounding error" in the grand scheme of carbon emissions. Current carbon emissions are somewhere around 50 billion metric tons a year. I've seen varying estimates of crypto emissions, so I'm going to cite one [1] on the low end here, since it's more favorable to your argument, but the highest I've seen is less than double this number, so they're all in the same ballpark. ETH currently emits 7.4 million metric tons of CO2 a year. Bitcoin is much higher. I've seen estimates as low as 16 million and as high as 55. There are other chains as well. To keep the math simple, let's round it to 50 million, so crypto is contributing 0.1% of total carbon emissions. Like you said, a rounding error. I think we're just going to have to disagree on mitigations. I don't think they're working very well. Crucially, at the beginning of 2019, according to the source I linked, ETH was only at 2 million tons a year. It's more than tripled since then. In 2021, Carbon recapture removed an estimated 9 thousand tons of CO2. [2] The CO2 from the growth of ETH eclipses anything that carbon recapture is currently capable of. The technology will get better. The most optimistic estimate I've seen is that carbon recapture will hit 30 million tons a year in 2070. But this year, Stripe Crypto only has to increase crypto transactions, across all blockchains it supports, by 9,000 tons to completely offset all of the money it's putting into recapture efforts. Even if you remove all the other chains, Stripe only has to increase ETH transactions by 1.3% to achieve this own-goal. Long term, Stripe alone could end up causing more CO2 emissions on the blockchains to grow faster than all of carbon recapture. 1: https://kylemcdonald.github.io/ethereum-emissions/ https://kylemcdonald.github.io/ethereum-emissions/ 2: https://www.reuters.com/business/environment/worlds-largest-plant-capturing-carbon-air-starts-iceland-2021-09-08/ https://www.reuters.com/business/environment/worlds-largest-...
quadrifoliate 5y ago
It is important to recognize that Stripe is largely selling well-made shovels for the gold rush here. They have a history of diving more deeply into this market [1] and withdrawing from it before [2], so this is just Take 2. This time around, they are not themselves buying Cube Thingies or similar and don't have any exposure to the volatile world of ETH or other coins. I think there will be decent transfer of money from venture-funded NFT startups to Stripe for the next few years, followed by a dip in the market when the startups discover that selling digital art is less of a viable market than they realize. I am personally skeptical about the end market, but Stripe seem well-insulated from the risks. I'm curious what people who are bullish on this think though – what might I be missing about the digital art market? I think paying 12 million pounds for a Renoir is bananas too, but people certainly do it [3]. I just expect digital stuff to be more volatile because it's hard to communicate that combination of artisanship and rarity. On the topic of well-made shovels, I highly recommend the Voile Telepro in HN Orange [4] as a portable snow shovel to keep in your car if you live in a snowy climate. They will probably be on sale in spring and summer. ---------------------------------------- [1] https://web.archive.org/web/20150516061807/https://stripe.com/bitcoin https://web.archive.org/web/20150516061807/https://stripe.co... [2] https://stripe.com/blog/ending-bitcoin-support https://stripe.com/blog/ending-bitcoin-support [3] https://www.christies.com/en/lot/lot-pierre-auguste-renoir-1841-1919-6190579/ https://www.christies.com/en/lot/lot-pierre-auguste-renoir-1... [4] https://snowmetrics.com/shop/voile-shovel/ https://snowmetrics.com/shop/voile-shovel/
- vincentmarle 5y ago
  > Updated March 10, 2022 Did they just update this after you pointed this out?
  - deleted 5y ago
    [deleted]
  - EE84M3i 5y ago
    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:cKDBTSBLvgAJ:https://stripe.com/blog/ending-bitcoin-support+&cd=3&hl=en&ct=clnk&gl=jp https://webcache.googleusercontent.com/search?q=cache:cKDBTS...
throwaway55522 5y ago
I’m a long time crypto skeptic, but maybe I am turning my ship around a bit. It’s very conflicting subject because I bought btc out of spite in 2010 to prove a point to my friend that deflationary currency makes no sense. I guess the jokes on me. The whole thing was a pure toy. Way more than doge coin or NFTs are today. I got 2K btc with the money I usually put to vanguard monthly. Through out the years I’ve kept my view that the whole thing is a joke, but not so funny anymore. Going mainstream did nothing good to the scene and rising price created this current eco-catastrophe. Yet this year is the first I actually used crypto as it was intended to transfer value instead of just cashing out. Defi and NFTs are not yet useful for me but the discussions around ethereum development are super interesting and keep pushing forward regardles of cryptobro scene. I used to think that maybe this is similar to early web era, but now I shifted to think that we are possibly in the vacuum tube era of cryptocurrencies. At least now it looks like this thing will outlive me. It sure didn’t look that way earlier. When price crashed it somehow felt right, but it never stayed there. Writing post like this is probably the final top signal X)
johnm212 5y ago
> Build your crypto business with Stripe 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.
- xmprt 5y ago
  Do you mind giving more information? I've mostly heard good things about Stripe about things like their documentation and APIs. I'd love to hear stuff contrary to that. I personally don't use Stripe either but I'm interested in hearing your reasons so we don't go through a lengthy migration that ends up biting us in the back.
  - joshstrange 5y ago
    Documentation is amazing, dashboard is amazing, pricing is high, you have to have a lot of volume before they will consider lower rates and/or removing/lowering the flat per-transaction fee. I'm also migrating away. Another reason I'm leaving is in-person payments. They have moved forward on that front but their offering is still pretty lacking. Lastly other processors will profit-share with you much earlier, stripe will do it but again, you have to have a lot of volume first.
  - lovingCranberry 5y ago
    I'm not OP, but I have a story to share: I worked for a company which is selling a tool that allows windows users to spoof unique identifiers of their computer. A lot of software these days grabs MAC addresses, disk and monitor serials in order to identify users. So, this tool just hooks into the windows kernel, and returns made up identifiers when a program requests them via the windows API. It does not change any files on the user's disk, and it does not modify any other programs in RAM. Literally the only thing it does is hooking the kernel like a 3rd party anti-virus. It is basically like the "randomize MAC address" and "change advertising identifier" on modern smartphones. Just for windows. Well, one day I woke up with this email in my inbox: https://i.imgur.com/g91KDqE.png https://i.imgur.com/g91KDqE.png They stopped the payouts, as this tool was deemed as a "restricted product". The cited point as the reason of the termination is the following: > Compliance with Applicable Laws: You must use the Services in a lawful manner, and must obey all laws, rules, and regulations (“Laws”) applicable to your use of the Services and to Transactions. As applicable, this may include compliance with domestic and international Laws related to the use or provision of financial services, notification and consumer protection, unfair competition, privacy, and false advertising, and any other Laws relevant to Transactions. As it came to light, a 70bn company namely Activision filed a lawsuit and subpoena against us as the tool is used to bypass their (poorly) implemented anti-cheat. Nothing had been decided in court yet (whether the product is unfair competition or piracy), but stripe still chose to just kill the account for our core product. I'm glad that they didn't lock away the money for 180 days minimum like PayPal usually does. Employees need to be paid, and this just sucks for everyone.
rank0 5y ago
Things like this where companies reinvent traditional payment processing “but with crypto” is the antithesis of what crypto used to stand for. As a former believer in the original goal of private p2p digital cash, I am saddened by what crypto has become in practice. Crypto is just centralized as the traditional financial system. Oh and nobody actually uses it as a currency. I feel like I’m one of few who’s actually purchased goods/services.
- jazzkingrt 5y ago
  There are still crypto projects whose primary focus is privacy (eg monero). But unsurprisingly, it's difficult to spend that money without going through a KYC process. I think the "dream" of truly private transactions was always unrealistic. Governments have many tools at their disposal to get what they want. Even cash is only so private. In the USA cash purchases over $10,000 require a report to the IRS.
  - rank0 5y ago
    Monero is my favorite crypto project and the only token I still use today. Their randomX pow protocol is brilliant and the anonymity is opaque as you can get! Requiring those huge memory pages for efficient mining is a great solution for deterring mining botnets. > I think the "dream" of truly private transactions was always unrealistic. Governments have many tools at their disposal to get what they want. Unfortunately you may be right. I sure hope not.
  - nprateem 5y ago
    Particl.io has built a marketplace for this. It hasn't taken off yet but the 'dream' seems to be their dream too
Devasta 5y ago
Stuff like this just gives credence to the farcical notion that crypto is reputable. The leadership at stripe should be utterly ashamed.
vishnugupta 5y ago
I skimmed the landing page. It looks like a collection of existing products and they are saying here’s how you could build on ramp and off ramp products. They are basically saying use our product to handle fiat currency and the customers. And once fiat leg of transaction is complete it’s upto you to manage the crypto part. I don’t see anything Crypto specific product here. For example, custodial Wallet as a solution. Am I missing something super obvious?
- cavisne 5y ago
  They used to not allow crypto currencies to use these products (credit card processing, treasury) due to the fraud risk and regulations. Now they are
Nathanael_M 5y ago
This is unrelated to the specific story, but as more and more companies and people I respect get involved with it, the more I realize I need to have a working knowledge of Crypto Currency so at the very least I can be involved in the discussion. Does anyone have any good resources for learning the building blocks/vocabulary of Crypto Currency?
- tremarley 5y ago
  You could check out crypto.tre.gd
- Hjfrf 5y ago
  Reddit.com/r/buttcoin
- kayamon 5y ago
  https://ocw.mit.edu/courses/sloan-school-of-management/15-s12-blockchain-and-money-fall-2018/ https://ocw.mit.edu/courses/sloan-school-of-management/15-s1...
  - Nathanael_M 5y ago
    Thanks!
- gonehome 5y ago
  This is the highest signal list I'm aware of on the topic: https://danromero.org/crypto-reading/ https://danromero.org/crypto-reading/ For a book with more in the weeds details: https://www.amazon.com/Bitcoin-Cryptocurrency-Technologies-Comprehensive-Introduction/dp/0691171696/ https://www.amazon.com/Bitcoin-Cryptocurrency-Technologies-C...
  - Nathanael_M 5y ago
    Thanks for the thorough answer.
- bb010g 5y ago
  https://youtu.be/YQ_xWvX1n9g https://youtu.be/YQ_xWvX1n9g
hemantv 5y ago
Who is on the hook if credit card fraud happens? If i just want to accept crypto payment what's my incentive?
otikik 5y ago
Noooo Stripe not you.
deleted 5y ago
[deleted]
bradgessler 5y ago
When can I accept crypto payments for products and services with Stripe? I don’t expect this to have a lot of volume from the start, but it’s important that payment platforms like Stripe start accepting cryptocurrency so this can get bigger.
Shadonototra 5y ago
Stop flagging my legitimate concern and questions about the scam that are Crypto/NFTs market Are you guys CCP agents trying to censor the people against this scam? You want the news but not the concerns? c'mon lol --- That's very sad, this should be banned Why should people accept money created out of thin air and speculation? Why let that kind of criminal money into the economy? Now america amassed ton of stock (coinbase, paypal and the plethora of other services), who really owns crypto coins nowadays? This stuff smells bad, and yes, it should be banned Shame on anyone who participate into this giant, state organized crime against the economy Poor people won't realize they became even poorer because someone's random NFT picturing a $5 pixel art picture from Fiver, is worth more than their house
ranguna 5y ago
I'm failing to understand what this is. Is stripe adding crypto support to the existing API (USD, EUR, and now some crypto coins). Or are they just allowing crypto businesses to accept fiat?

413 points by seabj0rn 5y ago

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

TAKEMYMONEY 5y ago
- colesantiago 5y ago
  We're just calling it what it really is, what is wrong with that?
  - TAKEMYMONEY 5y ago
    > 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."
    - colesantiago 5y ago
      Ask Elon's manipulation tactics of that specific dog coin and it's derivatives like SHIB. All scams.
      - TAKEMYMONEY 5y ago
        (Ask his tactics?) That's market manipulation. > All scams. "All" meaning those 2?
        colesantiago 5y ago
        TAKEMYMONEY 5y ago
        Presented without evidence, dismissed without it.
        colesantiago 5y ago
        Then why do they need a price attached to the coin? It seems that speculators are the majority use case for this virtual casino.
        deleted 5y ago
        [deleted]
      - unreal37 5y ago
        You keep using the word scam. I don't think it means what you think it means. ;) If two people want to send some bits between each other, and they both know what they're doing, it's not a scam. It may be risky, it may be unwise, it may be speculation... but scams involve deception between the receiver and the sender. And crypto is equivalent to dollars in this sense.
        uoaei 5y ago
        It's not a scam as long as you stay in crypto-space. Then one token equals one token and there is no concept of value beyond that. It is a scam in the traditional sense of failing to deliver expected value, since we want crypto to carry value and thus people still expect to be able to use crypto to buy things. The rub is that prices of things are still typically tied to fiat currencies, even if expressed as crypto prices. E.g., buying eggs with crypto depends on the price of the eggs, which is almost always controlled by the global economic order which is essentially governed by the (petro-)dollar, because of the economies of scale that have grown around egg production and distribution. The only reason any plausible deniability still exists about this basic feature of the crypto space is that crypto does not concern itself with participation in economies of scale, and the prices set in crypto-space are essentially just in crypto-space (even if all the reporting equates buys of NFTs, etc. to equivalent fiat amounts). One could say this is the ideal, but when the source of that value-as-expressed-in-crypto is value-as-expressed-in-dollars, you are siphoning realizable value from naive folks in a way that is functionally indistinguishable from a scam.
- fmvab 5y ago
  Wait, isn't that exactly a pyramid scheme?
  - TAKEMYMONEY 5y ago
    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?"
    - fmvab 5y ago
      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?
      - TAKEMYMONEY 5y ago
        It's not a pyramid scheme in any sense. 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.
        fmvab 5y ago
        ‘A pyramid scheme is a fraudulent system of making money based on recruiting an ever-increasing number of "investors." The initial promoters recruit investors, who in turn recruit more investors, and so on. The scheme is called a "pyramid" because at each level, the number of investors increases. The small group of initial promotors at the top require a large base of later investors to support the scheme by providing profits to the earlier investors.’ Come on, many crypto projects don’t seem like this in any sense?
        Dylan16807 5y ago
        That's a bad definition. The key characteristic of a pyramid scheme is that each person gets paid by the people they recruit. If there is a global FIFO, that's a Ponzi scheme. A pump and dump is something else entirely. It doesn't depend on an infinite series of investors, just one wave.
- PUSH_AX 5y ago
  It's “greater fool” theory at best.
  - TAKEMYMONEY 5y ago
    yes yes and let's not forget tulip mania! Did you know that DRUG DEALERS use crypto?!
    - cuteboy19 5y ago
      Is there a rebuttal? Greater fools scheme is a valid criticism, can't just handwave it away everytime
      - TAKEMYMONEY 5y ago
        > Greater fools scheme [sic] is a valid criticism Did you mean greater fool theory? That's not a financial scheme that's listed under Stripe's ToS (our context). Are you arguing in good faith that Stripe should update the Prohibited Businesses section of their ToS based on what you said?
      - mattdesl 5y ago
        presumably a Stripe service built on ERC20 would support stablecoins (DAI, RAI, USDC), which will be pretty central to many crypto-commerce businesses. there is no greater fool in these closed systems. source: I am selling art prints via stablecoins as a payment option for interested customers, but I’m manually handling the transactions, invoicing, and accounting (Stripe crypto could be an option for a small business like me).
    - exdsq 5y ago
      Tulip mania wasn't even that big a thing. Lasted a few weeks and consisted of a couple traders trying out new speculative financial instruments.
- kache_ 5y ago
  been a while since I heard "DAE"
rmbyrro 5y ago
You know they use Dollars, Euros, Pounds, etc as well for all of these scams. Should Stripe ban businesses that deal in Dollars, Euros, Pounds, etc?
atlantas 5y ago
Serious question: Do you think pyramid schemes, get rich quick schemes, no value added services and predatory investments are new?

zxienin 5y ago

stripe: “we got to do crypto, or we lose talent“ is it one of those things? I hear talent exodus to “anything crypto, web3“ is getting real

colesantiago 5y ago

10x-dev 5y ago
It is not established that cryptocurrencies in general are scams. I could make my own cryptocurrency and use it for completely legitimate reasons.
- topranks 5y ago
  Sounds like a scam
dang 5y ago
Please don't start yet another instance of the same old generic flamewar on HN. The issue isn't whether you're right or wrong, it's that we've had this flamewar hundreds of times already and nothing new comes of it. That makes if off topic for this site, which is supposed to be for curiosity. Curiosity withers under repetition and fries under indignation. https://hn.algolia.com/?dateRange=all&page=0&prefix=false&sort=byDate&type=comment&query=curiosity%20repetition%20by:dang https://hn.algolia.com/?dateRange=all&page=0&prefix=false&so... https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- colesantiago 5y ago
  But this is a valid question? I am sure other Stripe customers are upset with this as much as I am to call it what it is. Are you going to flag them too?
- exdsq 5y ago
  Happy to see you’re taking this approach now Dang. It’s really killed a lot of threads and I hope conversations can now go up a level to the technical uses rather than generic ‘ponzi scheme’ claims.
  - colesantiago 5y ago

djrobstep 5y ago

harel 5y ago

Just 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...

jhatemyjob 5y ago
What changed is, someone very powerful said this: "One of my incredibly big misses over the last decade was not buying enough Bitcoin. At $60k per Bitcoin, I'm still not sure if one should aggressively buy it, but surely it is telling us that we are at a crisis moment for the Fed."
- fuzzybear3965 5y ago
  I searched for who said this but came up empty. Where is this quote from?
  - cshenoy 5y ago
    Pretty sure it was Peter Thiel. https://sports.yahoo.com/tech-billionaire-peter-thiel-says-160721658.html https://sports.yahoo.com/tech-billionaire-peter-thiel-says-1...
    - fuzzybear3965 5y ago
      Thanks for the link. I didn't find that quote in the article, but maybe it was in there. If it's not in there then it's crazy that you linked that article saying "Peter Thiel" - another commenter said the same thing. If it's in there then it's weird that my quoted Google Search didn't yield at least that article.
    - clpm4j 5y ago
      And pretty sure by "not enough" he means only bought single digit 1000s of bitcoins rather than hundreds of thousands or millions of bitcoins.
  - deleted 5y ago

candiddevmike 5y ago

Just 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 also have PayPal support now (highly requested by customers, especially international).

ksec 5y ago
Is Paddle still Only open to SaaS only ? Last time I check they won’t even accept any other business.
- mherrmann 5y ago
  If by SaaS you mean subscription, then no. I sell one-time software purchases through them.
  - ksec 5y ago
    I mean something non-Software. I quite like their overall model and integrated experience. Along with Paypal support, while not getting any mention much in tech cycle it is surprisingly popular.
- candiddevmike 5y ago
  I am a SaaS but I sell a lifetime subscription as a standalone product, works fine with Paddle.
ttoinou 5y ago
> their new tax collection stuff Couldn't you turn that off ?
- hutzlibu 5y ago
  I know, that for setting up my stripe account, I HAD to provide a credit card number, which I did not had, as they are not needed in EU.

rvz 5y ago

This doesn't come as surprising since they have timed this with Biden's executive order on regulating cryptocurrencies, so this is probably why you are seeing Stripe pushing Crypto right now. Also, all smaller cryptocurrency on ramp businesses are doomed.

BoorishBears 5y ago

My respect for Stripe plummeted when I reached out about a closed API and got a passive aggressive answer from support. I don't think I've ever gotten that kind of rude sarcasm/passive aggression from a simple support inquiry, and I vowed never to use their services again. Their competitors to this specific API were much nicer to work with and onboarded us after some basic introductions, so part of me wonders what other fronts Stripe has better but less well known competitors on.

deleted 5y ago
[deleted]
ndr 5y ago
Can you share the API/competitor?
- BoorishBears 5y ago
  Marqeta, Treasury Prime, Synctera All companies that actually spoke to us and assisted when Stripe Treasury essentially said "why are you bothering us?"
sodality2 5y ago
Can you post the reply? I'm curious about what they said.
- BoorishBears 5y ago
  Sure, I inquired about the API, and got a templated reply that simply repeated the API's landing page I replied saying I'd be interested in knowing what they're looking for in potential beta partners: > That is good to hear. All you need to do is follow the instructions listed in my previous email and wait on contact from the Treasury team. I am happy I was able to assist you. > Thank you for choosing Stripe! Keep in mind the "instructions" are to fill out the form that got me into this email chain in the first place: in other words there's nothing about what I asked there. There's the whole "That's good to hear" reply to a question I asked... And I was especially taken aback by the whole facetious "happy I was able to assist you" bit after completely ignoring my question. - The entire interaction felt like "why are you bothering us", which is honestly would be a fair position if they're looking for established players for example... but why not be direct? We had other companies flat out say their partners want X million in funding before they'll work with you, and that was fine. It'd actually take less work than writing out a non-answer like that

chinathrow 5y ago

Oh please. Long time Stripe fan and customer here - this makes me sad from the inside. They even mention NFT marketplaces - scams all over the places. Why would they want to support use cases like that?

sodality2 5y ago
> Why would they want to support use cases like that? Money? They are a business
- floodyberry- 5y ago
  > They are a business with poor ethics
fmvab 5y ago
Because there is money to be had, and people like money.

simonbarker87 5y ago

I just spent 12 months investigating crypto. I bought come coins, got lucky on that ENS airdrop, made a smart contract, bought an NFT, learned some Solidity, joined some Discords, listen to some podcasts, set up a miner and generally tried to learn about this area. 2 weeks ago I left all but one discord, unfollowed all Web3 specific accounts on Twitter and stopped looking at Binance etc. My life has improved considerably. I’m sure someone is getting rich in there but I can’t work out who or how amongst the hype, pumps, grifters, scams and outright criminals. I’m ok missing the boat if it turns out to be any more than a raft. My sanity and concentration is worth far more than whatever rubbish they are all peddling.

muttantt 5y ago
If you got into crypto in 2021-22.. you already missed the boat. This is the cashing out phase.
- coconut08 5y ago
  people have been saying this since 2011. thats not to say that the speculation that is taking place in crypto isnt ridiculous and destructive, but your claim is completely unfounded
  - muttantt 5y ago
    The risk reward ratio is just not there anymore. We may see $100K bitcoin, sure, but that's just 3x, you can get that buying and holding TSLA starting today. But IMHO the risk of bitcoin crashing to, say, $10K is pretty significant, especially when Russia sanctions could be used as pretext to regulate crypto to death.
    - joshgachnang 5y ago
      Sure, but that's only looking at BTC. There's a lot of other coins still jumping a 100-1000x in this bull run, even if BTC only went up a few times. The point about it all crashing is true though, high risk-high reward (and that risk likely outweighs the reward for BTC in my opinion).

deleted 5y ago

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atlantas 5y ago

I 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?

eclipxe 5y ago
HN hates everything.
- knownjorbist 5y ago
  It's wild, considering the cryptopunk thing is happening _now_, not in the 90s.
  - o_____________o 5y ago
    The tech world is full of dreamers and know-it-alls. Proto-HN Slashdot is a great historical document of our malignant naysaying.
- stimpson_j_cat 5y ago
  It would be great to have a place to have engaging discussion regarding Y-Combinator-backed startups that good hackers would find interesting.
infamouscow 5y ago
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.
- tehnub 5y ago
  You’re suggesting that these HN readers are criticizing crypto because they’re trying to keep government corruption under the rug?
- 5y ago

erulabs 5y ago

Am very glad to see this - was considering adding Coinbase's Commerce product due to quite a few requests to accept BTC payments for our hardware at https://kubesail.com https://kubesail.com - I suppose we have an extremely privacy focused user-base currently. Since we already use Stripe, I would be very glad to simply "enable bitcoin" as a payment method and leave it at that. Somewhat sadly, I was quite involved in web3 several years ago when the web3.js project was very young - so I have mixed feelings about being glad "someone else is gonna handle it for me". I suppose in the last 5 years I've gone from "Not your keys, not your coins!" to "I just don't want to spend a ton of time on this". Does that mean crypto has failed to live up to the dream or does that mean it's finally boring enough for old-business-owner-me to make use of it? I can't quite decide! I am a former Stripe employee, so I am quite biased, but I'll just say: In my experience, if the Collison brothers do anything - you'd be a fool to think it's not extremely well thought out. If I hear a rhyme I assume there is a damn good reason.

traveler01 5y ago
If you want to accept cryptocurrency payments and want a privacy focused service you can try Cryptapi...
- rsstack 5y ago
  Not to be negative, but when evaluating financial services CryptAPI are failing most checks: - Three employees on LinkedIn, none with a background in finance, security, accounting, etc. - No audited security certifications (PCI DSS doesn't directly apply, but there should be _something_ that shows that _someone_ checked their processes/code/infrastructure for reasonable best practices) - No fraud protection or anything like that. This could be nice for a crypto-only side-business that someone is running, but it can't be used by a serious company that needs to supplement their non-crypto payments with a crypto payments option.
  - dmak 5y ago
    Not saying I don’t agree with you, but a lot of fiat measures or security certs are based off the weaknesses of tradfi. I am guessing that crypto payment processor requires a much thinner layer of trust and leverages a lot of the underlying blockchain technology without having to build more glue around it.

henning 5y ago

samch 5y ago

Slight tangent: Maybe it’s just me, but I’m somewhat uncomfortable with the label “crypto” being co-opted as official shorthand for cryptocurrencies. I see how it’s a natural truncation of a long term, but to many of us the word crypto can mean many other things. When I saw the headline, I wondered if they had released their own cryptographic library or something else to that effect.

SketchySeaBeast 5y ago
It's really unfortunate. But I guess it's better than shortening it to "currency" because that would imply it has actual value.
- danuker 5y ago
  What is actual value to you personally?
  - EamonnMR 5y ago
    Can be exchanged for goods and services.
    - knownjorbist 5y ago
      So crypto qualifies.
      - dybber 5y ago
        Why isn’t this new Stripe thing then about being able to use Bitcoin when buying things? Or how do I use Coinbase for buying things? Try go to the coinbase website and look for how to buy things with your Bitcoin. What I read from the site is that it’s all about investing in the value going up, not about making payments to other people or businesses for services or purchases.
        colinmhayes 5y ago

ffritz 5y ago

danuker 5y ago
Is it a scam if everyone is in on it?
- tchock23 5y ago
  16% of the US has owned/traded crypto. So yeah, everyone.

Shadonototra 5y ago

danielandrews43 5y ago

Some high quality humor on the page with "Cube Thingy 1", "Cube Thingy 2", and "Cube Thingy 3"

edwinwee 5y ago
And the Cube Thingies are real! https://niftygateway.com/collections/cube-thingies https://niftygateway.com/collections/cube-thingies
- danuker 5y ago
  "Not yet Available". Aww.
  - edwinwee 5y ago
    Come back later today for minting time—open edition at 6:30 PM ET for two hours.
    - unfocussed_mike 5y ago
      I just want to say that the extraordinary unseriousness of this (and the NFT twitter icon, really!?) has convinced me that Stripe is through the looking glass, now. This is such a demoralising turn of events.
- llsf 5y ago
  "We will not rest until 1 billion people are collecting NFTs." Is it Apr. 1st already ?
  - unfocussed_mike 5y ago
    Every day is April 1st now. More and more I am convinced that the weasel that crawled into the LHC and got itself killed only died _inside_ the collapsing time bubble it somehow created through an unspecified accident and in which we are now all living. Outside the time bubble, it scampered away and Brexit, Trump's victory, the Ukraine war and the Tiger King series never happened.

jonathantf2 5y ago

danuker 5y ago
Which cryptos are scams and why?
- leifg 5y ago
  Which ransomware doesn’t use crypto?
  - danuker 5y ago
    Which ransomware doesn't use the Internet?
  - TAKEMYMONEY 5y ago
    All ransomware that existed before crypto?
    - leifg 5y ago
      Usain Bolt and I can run. Magnitude matters.
      - TAKEMYMONEY 5y ago
        And ransomware was making a LOT of money before crypto, so we can't blame crypto for it. Magnitude matters.
        leifg 5y ago
        Estimated 5 billion in 2021. How much was it before crypto?
        TAKEMYMONEY 5y ago

JaimeThompson 5y ago

The 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.

schleck8 5y ago
How to participate in crypto? Just head to a privately owned exchange that might be traded at a stock exchange! Alternatively use a startup service that in turn relies on a privately owned backend that might as well go public at any point.
- xtracto 5y ago
  Or get to localcrypto, localbitcoin, localmonero and find a peer who is willing to give you crypto for your cash.
  - samstave 5y ago
    CryptoBarter is here! So we simply ~~kill the batman~~ -- er... trade resources for resources, and determine a balance between what I am asking for vs your offer? Its amazing we need digital fn currency to algorithm this bullshit for us to maintain trust in such NOTES
  - schleck8 5y ago
    Which are run by private companies and take cuts don't they? Also last time I checked the rates on P2P exchanges are ridiculous for any trusted seller
    - valcron1000 5y ago
      At least on Binance there are no fees involved in P2P trading
toolz 5y ago
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.

deleted 5y ago

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ksec 5y ago

As expected, lots of people unhappy. RailsConf had to cancel a talk on web3. I wonder if Stripe will face the same pressure.

kyletns 5y ago

This is an obvious but very powerful move by Stripe. Stripe is attempting to allow any business to become a place you can buy crypto, which will be really important to remove Coinbase and other CEXs as the only consumer-facing platforms where you can get into the ecosystem. Of course, that just means replacing those CEXs with Stripe as the fully centralized service on the backend, and you can bet they'll be taking their cut! But anything that moves more money into crypto is good for the Web3 ecosystem. Which would, of course, only be a good thing if you considered growth of the Web3 ecosystem a good thing :)

pastor_bob 5y ago

This page is more useful: https://support.stripe.com/questions/crypto-supportability-and-availability-by-region 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?

jessaustin 5y ago
Thanks for puncturing the silly hype.

ATsch 5y ago

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.

TomGullen 5y ago
Used to be a big Bitcoin advocate, we accepted it on our website but removed it due to it just not being worth it for the odd sale with the extra accounting required. 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.
- rufusroflpunch 5y ago
  I think you're not correct, your timescale is just too short. Monetization happens in three phases, roughly. First, it is the store-of-value phase. Anticipation of future value, based on past and present value, will cause people to hoard a good as a savings technique. Bitcoin is still in this phase. Usually when you say this on the internet, someone will come in and say "Oh, but Bitcoin's volatility makes it a poor store-of-value!" But again, it's short-sighted. Looking at the 200 WMA will easily demonstrate the store-of-value aspect of Bitcoin. Second phase is "medium of exchange". This is the thing people always point to and say that Bitcoin has failed. But it hasn't failed, it just hasn't reached it yet. This phase is started when a good becomes valuable enough that merchants begin to demand or incentivize payments in the good. As you mentioned, there are accounting, tax and technological impediments currently that make it less convenient to accept Bitcoin payments. These will be overcome with time, however, as the impediments are eliminated, or the value of Bitcoin makes it economically worthwhile to transact anyway. The final phase will be "unit of account". Once a Bitcoin circular economy starts, people will begin to think of prices in Bitcoin, instead of dollars, euros, etc. This may sound far-fetched to skeptics, but I consider this to be a near guarantee to happen eventually. Bitcoin's network effects and unique balance of incentives more or less ensures that it can't be killed, that everyone is better off participating in the network or they will be worse off in the long run.

Liron 5y ago

Important 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] [1] https://news.ycombinator.com/item?id=30629169 https://news.ycombinator.com/item?id=30629169

edwinwee 5y ago
Yes, the Stripe Crypto team started six months ago and the first step was to tune our fiat payment APIs to work with exchanges, on-ramps, and NFT marketplaces. Working on lots more, so stay tuned for more announcements very soon!
- biztos 5y ago
  I would love to know how often real-world money is referred to as "fiat" inside Stripe.
  - chockchocschoir 5y ago
    "Fiat" does not mean "real-world money" as any money you consider "real" is "real". "Fiat" refers to money not backed by something physical, and it is not a new term that appeared from the cryptocurrency space (as many believe). The search trend, https://trends.google.com/trends/explore?date=all&q=Fiat%20Money https://trends.google.com/trends/explore?date=all&q=Fiat%20M..., seems to be relative stable since start of collecting trend data (2004), with slightly increasing volume as we get closer to today, but generally stable. More information: https://www.investopedia.com/terms/f/fiatmoney.asp https://www.investopedia.com/terms/f/fiatmoney.asp
    - asasidh 5y ago
      fiat means by decree. Bitcoin made the term fiat popular.
      - 5y ago

deleted 5y ago

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siruncledrew 5y ago

That’s an interesting 180 degree turn from saying “no” to crypto support to now allowing crypto support. What regulations changed behind the scenes?

lern_too_spel 5y ago
If anything, with the recent executive order, I expect the regulatory landscape to change quickly to make cryptocurrencies even less desirable to support for payment.

StewardMcOy 5y ago

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 are insufficient, and NFTs minted on sidechains inevitably migrate to Mainnet, where they're just as environmentally destructive as any other NFT, or they fail. Stripe's carbon recapture efforts seem to be in the same category. Recapture is good, but not nearly as good as not emitting the carbon in the first place. If Stripe's support of crypto increases the use of blockchains, the overall impact of extra carbon emissions could very easily outpace all the carbon recapture they'll ever achieve. It's a shame. When Stripe announced their carbon recapture efforts, I was impressed by how sincere they seemed in finding solutions to climate problems. Next to Stripe Crypto, however, it appears to just be greenwashing. (And to head off the replies, I know all about proof-of-stake, but it's not relevant here. I'm unconvinced it will work, and even if it does, the ecological damage done and being done in the meantime is massive. If Stripe really cared about carbon emissions, they'd wait to launch Stripe Crpyto only on proof-of-stake blockchains, and only after they proved that the energy usage at scale was similar to the energy use for transferring fiat currency.)

elefanten 5y ago
The “ecological damage” is a rounding error and being mitigated in several ways. This is not a serious concern for cryptocurrency, despite how often and blindly its repeated.
- StewardMcOy 5y ago
  This is not a convincing argument, but even if it were, carbon recapture is currently even more of a "rounding error" in the grand scheme of carbon emissions. Current carbon emissions are somewhere around 50 billion metric tons a year. I've seen varying estimates of crypto emissions, so I'm going to cite one [1] on the low end here, since it's more favorable to your argument, but the highest I've seen is less than double this number, so they're all in the same ballpark. ETH currently emits 7.4 million metric tons of CO2 a year. Bitcoin is much higher. I've seen estimates as low as 16 million and as high as 55. There are other chains as well. To keep the math simple, let's round it to 50 million, so crypto is contributing 0.1% of total carbon emissions. Like you said, a rounding error. I think we're just going to have to disagree on mitigations. I don't think they're working very well. Crucially, at the beginning of 2019, according to the source I linked, ETH was only at 2 million tons a year. It's more than tripled since then. In 2021, Carbon recapture removed an estimated 9 thousand tons of CO2. [2] The CO2 from the growth of ETH eclipses anything that carbon recapture is currently capable of. The technology will get better. The most optimistic estimate I've seen is that carbon recapture will hit 30 million tons a year in 2070. But this year, Stripe Crypto only has to increase crypto transactions, across all blockchains it supports, by 9,000 tons to completely offset all of the money it's putting into recapture efforts. Even if you remove all the other chains, Stripe only has to increase ETH transactions by 1.3% to achieve this own-goal. Long term, Stripe alone could end up causing more CO2 emissions on the blockchains to grow faster than all of carbon recapture. 1: https://kylemcdonald.github.io/ethereum-emissions/ https://kylemcdonald.github.io/ethereum-emissions/ 2: https://www.reuters.com/business/environment/worlds-largest-plant-capturing-carbon-air-starts-iceland-2021-09-08/ https://www.reuters.com/business/environment/worlds-largest-...

quadrifoliate 5y ago

It is important to recognize that Stripe is largely selling well-made shovels for the gold rush here. They have a history of diving more deeply into this market [1] and withdrawing from it before [2], so this is just Take 2. This time around, they are not themselves buying Cube Thingies or similar and don't have any exposure to the volatile world of ETH or other coins. I think there will be decent transfer of money from venture-funded NFT startups to Stripe for the next few years, followed by a dip in the market when the startups discover that selling digital art is less of a viable market than they realize. I am personally skeptical about the end market, but Stripe seem well-insulated from the risks. I'm curious what people who are bullish on this think though – what might I be missing about the digital art market? I think paying 12 million pounds for a Renoir is bananas too, but people certainly do it [3]. I just expect digital stuff to be more volatile because it's hard to communicate that combination of artisanship and rarity. On the topic of well-made shovels, I highly recommend the Voile Telepro in HN Orange [4] as a portable snow shovel to keep in your car if you live in a snowy climate. They will probably be on sale in spring and summer. ---------------------------------------- [1] https://web.archive.org/web/20150516061807/https://stripe.com/bitcoin https://web.archive.org/web/20150516061807/https://stripe.co... [2] https://stripe.com/blog/ending-bitcoin-support https://stripe.com/blog/ending-bitcoin-support [3] https://www.christies.com/en/lot/lot-pierre-auguste-renoir-1841-1919-6190579/ https://www.christies.com/en/lot/lot-pierre-auguste-renoir-1... [4] https://snowmetrics.com/shop/voile-shovel/ https://snowmetrics.com/shop/voile-shovel/

vincentmarle 5y ago
> Updated March 10, 2022 Did they just update this after you pointed this out?
- deleted 5y ago
  [deleted]
- EE84M3i 5y ago
  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:cKDBTSBLvgAJ:https://stripe.com/blog/ending-bitcoin-support+&cd=3&hl=en&ct=clnk&gl=jp https://webcache.googleusercontent.com/search?q=cache:cKDBTS...

throwaway55522 5y ago

I’m a long time crypto skeptic, but maybe I am turning my ship around a bit. It’s very conflicting subject because I bought btc out of spite in 2010 to prove a point to my friend that deflationary currency makes no sense. I guess the jokes on me. The whole thing was a pure toy. Way more than doge coin or NFTs are today. I got 2K btc with the money I usually put to vanguard monthly. Through out the years I’ve kept my view that the whole thing is a joke, but not so funny anymore. Going mainstream did nothing good to the scene and rising price created this current eco-catastrophe. Yet this year is the first I actually used crypto as it was intended to transfer value instead of just cashing out. Defi and NFTs are not yet useful for me but the discussions around ethereum development are super interesting and keep pushing forward regardles of cryptobro scene. I used to think that maybe this is similar to early web era, but now I shifted to think that we are possibly in the vacuum tube era of cryptocurrencies. At least now it looks like this thing will outlive me. It sure didn’t look that way earlier. When price crashed it somehow felt right, but it never stayed there. Writing post like this is probably the final top signal X)

johnm212 5y ago

> Build your crypto business with Stripe 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.

xmprt 5y ago
Do you mind giving more information? I've mostly heard good things about Stripe about things like their documentation and APIs. I'd love to hear stuff contrary to that. I personally don't use Stripe either but I'm interested in hearing your reasons so we don't go through a lengthy migration that ends up biting us in the back.
- joshstrange 5y ago
  Documentation is amazing, dashboard is amazing, pricing is high, you have to have a lot of volume before they will consider lower rates and/or removing/lowering the flat per-transaction fee. I'm also migrating away. Another reason I'm leaving is in-person payments. They have moved forward on that front but their offering is still pretty lacking. Lastly other processors will profit-share with you much earlier, stripe will do it but again, you have to have a lot of volume first.
- lovingCranberry 5y ago
  I'm not OP, but I have a story to share: I worked for a company which is selling a tool that allows windows users to spoof unique identifiers of their computer. A lot of software these days grabs MAC addresses, disk and monitor serials in order to identify users. So, this tool just hooks into the windows kernel, and returns made up identifiers when a program requests them via the windows API. It does not change any files on the user's disk, and it does not modify any other programs in RAM. Literally the only thing it does is hooking the kernel like a 3rd party anti-virus. It is basically like the "randomize MAC address" and "change advertising identifier" on modern smartphones. Just for windows. Well, one day I woke up with this email in my inbox: https://i.imgur.com/g91KDqE.png https://i.imgur.com/g91KDqE.png They stopped the payouts, as this tool was deemed as a "restricted product". The cited point as the reason of the termination is the following: > Compliance with Applicable Laws: You must use the Services in a lawful manner, and must obey all laws, rules, and regulations (“Laws”) applicable to your use of the Services and to Transactions. As applicable, this may include compliance with domestic and international Laws related to the use or provision of financial services, notification and consumer protection, unfair competition, privacy, and false advertising, and any other Laws relevant to Transactions. As it came to light, a 70bn company namely Activision filed a lawsuit and subpoena against us as the tool is used to bypass their (poorly) implemented anti-cheat. Nothing had been decided in court yet (whether the product is unfair competition or piracy), but stripe still chose to just kill the account for our core product. I'm glad that they didn't lock away the money for 180 days minimum like PayPal usually does. Employees need to be paid, and this just sucks for everyone.

rank0 5y ago

Things like this where companies reinvent traditional payment processing “but with crypto” is the antithesis of what crypto used to stand for. As a former believer in the original goal of private p2p digital cash, I am saddened by what crypto has become in practice. Crypto is just centralized as the traditional financial system. Oh and nobody actually uses it as a currency. I feel like I’m one of few who’s actually purchased goods/services.

jazzkingrt 5y ago
There are still crypto projects whose primary focus is privacy (eg monero). But unsurprisingly, it's difficult to spend that money without going through a KYC process. I think the "dream" of truly private transactions was always unrealistic. Governments have many tools at their disposal to get what they want. Even cash is only so private. In the USA cash purchases over $10,000 require a report to the IRS.
- rank0 5y ago
  Monero is my favorite crypto project and the only token I still use today. Their randomX pow protocol is brilliant and the anonymity is opaque as you can get! Requiring those huge memory pages for efficient mining is a great solution for deterring mining botnets. > I think the "dream" of truly private transactions was always unrealistic. Governments have many tools at their disposal to get what they want. Unfortunately you may be right. I sure hope not.
- nprateem 5y ago
  Particl.io has built a marketplace for this. It hasn't taken off yet but the 'dream' seems to be their dream too

Devasta 5y ago

Stuff like this just gives credence to the farcical notion that crypto is reputable. The leadership at stripe should be utterly ashamed.

vishnugupta 5y ago

I skimmed the landing page. It looks like a collection of existing products and they are saying here’s how you could build on ramp and off ramp products. They are basically saying use our product to handle fiat currency and the customers. And once fiat leg of transaction is complete it’s upto you to manage the crypto part. I don’t see anything Crypto specific product here. For example, custodial Wallet as a solution. Am I missing something super obvious?

cavisne 5y ago
They used to not allow crypto currencies to use these products (credit card processing, treasury) due to the fraud risk and regulations. Now they are

Nathanael_M 5y ago

This is unrelated to the specific story, but as more and more companies and people I respect get involved with it, the more I realize I need to have a working knowledge of Crypto Currency so at the very least I can be involved in the discussion. Does anyone have any good resources for learning the building blocks/vocabulary of Crypto Currency?

tremarley 5y ago
You could check out crypto.tre.gd
Hjfrf 5y ago
Reddit.com/r/buttcoin
kayamon 5y ago
https://ocw.mit.edu/courses/sloan-school-of-management/15-s12-blockchain-and-money-fall-2018/ https://ocw.mit.edu/courses/sloan-school-of-management/15-s1...
- Nathanael_M 5y ago
  Thanks!
gonehome 5y ago
This is the highest signal list I'm aware of on the topic: https://danromero.org/crypto-reading/ https://danromero.org/crypto-reading/ For a book with more in the weeds details: https://www.amazon.com/Bitcoin-Cryptocurrency-Technologies-Comprehensive-Introduction/dp/0691171696/ https://www.amazon.com/Bitcoin-Cryptocurrency-Technologies-C...
- Nathanael_M 5y ago
  Thanks for the thorough answer.
bb010g 5y ago
https://youtu.be/YQ_xWvX1n9g https://youtu.be/YQ_xWvX1n9g

hemantv 5y ago

Who is on the hook if credit card fraud happens? If i just want to accept crypto payment what's my incentive?

otikik 5y ago

Noooo Stripe not you.

deleted 5y ago

[deleted]

bradgessler 5y ago

When can I accept crypto payments for products and services with Stripe? I don’t expect this to have a lot of volume from the start, but it’s important that payment platforms like Stripe start accepting cryptocurrency so this can get bigger.

Shadonototra 5y ago

Stop flagging my legitimate concern and questions about the scam that are Crypto/NFTs market Are you guys CCP agents trying to censor the people against this scam? You want the news but not the concerns? c'mon lol --- That's very sad, this should be banned Why should people accept money created out of thin air and speculation? Why let that kind of criminal money into the economy? Now america amassed ton of stock (coinbase, paypal and the plethora of other services), who really owns crypto coins nowadays? This stuff smells bad, and yes, it should be banned Shame on anyone who participate into this giant, state organized crime against the economy Poor people won't realize they became even poorer because someone's random NFT picturing a $5 pixel art picture from Fiver, is worth more than their house

ranguna 5y ago

I'm failing to understand what this is. Is stripe adding crypto support to the existing API (USD, EUR, and now some crypto coins). Or are they just allowing crypto businesses to accept fiat?