YEREVAN (CoinChapter.com) — In a decisive move, Stripe, a San Francisco-based financial services and software as a service (SaaS) company, has terminated its services for Bitsaga, a Bitcoin consultancy and payment gateway. This action comes in the wake of Bitsaga’s continued sales of Bitcoin mining hardware, which conflicts with Stripe’s terms of service.
Stripe Doesn’t Approve of Bitcoin Mining — Why?
The founder and CEO of Bitsaga, cryptically noted on the website as “Rob,” brought public attention to the problem, posting the alleged conversation with Stripe support service. Notably, no other source is available for the described problem or a viable explanation for Stripe’s decision.
CoinChapter has contacted the company for comments, and this article will be updated as soon as additional information is available.
Looking at your website, it appears you’re selling mining hardware, could you confirm if this is something you’d be willing to remove from your website? At present mining hardware is against our terms of service so is unsupportable.
read the message.
The reasons behind Bitsaga Bashing Are NOT Clear
Stripe, a giant in online payment processing, features tools that facilitate e-commerce, billing, and financial transactions over the Internet. Stripe supports businesses in over 120 countries, making it a linchpin in the global digital economy.
Its clientele ranges from emerging startups to established industry leaders. The company also dabbed its toes in crypto, albeit staying away from mining-related services.
Bitsaga, on the other hand, operates within a more specialized niche. Positioned as a Bitcoin-only company, Bitsaga offers a zero-fee payment gateway for Bitcoin transactions. It also offers consultancy services to foster the adoption and secure use of Bitcoin and the Lightning Network. Bitsaga caters to both tech-savvy clients and novices in the cryptocurrency sphere.
As mentioned, the crux of the issue leading to Stripe’s termination of services lies in the sale of Bitcoin mining hardware by Bitsaga. Mining equipment is integral to Bitcoin production, validating transactions, and securing the decentralized network. However, the reasons behind it are not clear. Rob claimed that the decision would not sway Bitsaga’s vector.
Bitcoin mining hardware is freedom technology to secure the only open, fair, and fixed supply monetary system in the world. If Stripe deplatforms Bitsaga for selling Bitcoin mining hardware I consider this discriminatory censorship and against my terms of adoption. You are on the wrong side of history. Bitcoin doesn’t need you. You need Bitcoin.
he commented.
