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I think a notable feature of patreon's cut is that they only take it on withdrawal. I don't know how that works for individual's tax exposure, but it does serve
by extraduder_ire 2y ago
I think a notable feature of patreon's cut is that they only take it on withdrawal. I don't know how that works for individual's tax exposure, but it does serve to inflate the cash amounts on the site from people using their patreon income to patronise others.
- culi 2y agoAh that is interesting. I didn't realize that. Is Patreon then allowed to basically act like a bank? Where they can invest the cash that's currently sitting in a Patreon account? Essentially, everyone leaving money in Patreon is giving them a micro-loan A somewhat related feature of Liberapay is there's a lot of flexibility in the frequency of your payments. You can enter in $5/week but it will suggest a payment frequency that minimizes fee. E.g. paying $21.43 every 30 days instead.
- TZubiri 2y agoNot necessarily. Not every entity can do whatever they want with deposits from others, you need to be an actual bank and regulated as such to have the right to invest other people's money