Comment on Itch.io is delisting NSFW games due to pressure from payment processors
ms_lane@lemmy.world 2 days agoThe short term profits of going SFW only to appease payment processors vs. keeping everything but making it crypto only, which in the short term would be disastrous for income, but in the long term it would recover and they’d have independence from censorship.
Instead they chose to keep bigger profits and start deleting accounts.
wizardbeard@lemmy.dbzer0.com 2 days ago
Tell me again how you’ve not actually read up on the issues with crypto as payment processor.
This shit has already been tried and the issues discussed at length. I think it was Mullvad that stopped accepting BTC and did an extensive writeup on why.
In short: the constantly shifting conversion rates make this unsustainable, as even if they accepted payment in crypto, they have to pay their bills in fiat currency. So their choices are to have crypto prices change literally every page load to reflect the exchange rate, or to just eat extra costs when suddenly 0.51btc goes from being worth $5 when the user pays to being worth $1 when they try to use it for anything else. Even with constantly updating prices, the shifting rates screwing them will still happen. The costs associated with even offering it as a payment type outweigh the actual revenue generated by an extreme order of magnitude, and even privacy/crypto oriented storefronts see something like under 1% of users using the option when it’s available.
And that’s my understanding of the short version.
There’s a big difference between “prioritizing short term profit” and “committing commercial/financial suicide to make a point”.
Trainguyrom@reddthat.com 2 days ago
Heck even friggin Musk stopped accepting crypto to buy Tesla’s!