Hacker News Reader

Comment by ukulele | Hacker News Reader

They created a crypto startup that allowed you to purchase with stripe, then had a bunch risky transactions come through, which they diligently told stripe about. So stripe closed the account because it was high risk.

They were a magnet for fraudulent transactions and had a ton of support requests on how to block various things; I don't really blame stripe for not wanting to process them.

View on HN

They probably don't even have the option of supporting them; their upstream banking partners have restrictions on these kinds of businesses.

What do you mean by "these kinds of businesses?"

Cryptocurrency companies. Banks ban them.

Keys4Coins is not a cryptocurrency company. We are an online shop for pc games. Your comment makes as much sense as it would saying Steam is a cryptocurrency company when they only accepted Bitcoin for payments.

Do you accept cryptocurrency in exchange for USD-denominated gift cards?

If you don't know the answer to this question, why are you making these bold declarations about the company?

He knows that they do -- it's on the Keys4Coins front page.

In case this is genuine confusion, this is a rhetorical device. i.e.

A: "Do you want to go get ice cream?"

B: "Is the Pope Catholic?!"

The (obvious) "yes" to the second question is an indirect answer to the first.

It's hard to believe that tptacek knew that already, but did not say it clearly 3 days ago, when the company was described as a "crypto startup". Why would he waste everyone's time with such rhetoric games?

If you read the article, they did get some seemingly nonsensical support responses from Stripe. Regardless of their application at the time they were a customer and given the standard customer-no-service support. That is notable.

We are not a crypto startup. We are an ecommerce shop selling pc games. Cryptocurrency is a payment option. We did not sell cryptocurrency and we did not use Stripe for anythin related to cryptocurrency. Stripe was only used to sell video games. Also, we are not high risk, we are low risk. Go read the article.

Also, our support requests was in regards to a bug in Stripe's system that made some anti fraud measures not work at all. It is Stripes fault that the anti fraud rules we put in place did not work, not ours.

What part of their business model suggests to you that this company is a "crypto startup"?

For my point of view, it does not seem that Cryptocurrency was their product. They are not selling Cryptocurrency AFAIK.

You are right. It seems like a lot of people assume Keys4Coins is a crypto startup and we do not know why. They certainly do not bother to read the article or have a look on the website or they would easily see what we actually sell: pc games.

Reply on news.ycombinator.com