Chaturbate bitcoin payments less

[Hey_glad_to_see_you]

Hello @punker barbie i hope you feel good
I have had a long-term misunderstanding with the support service regarding bitcoin payments
I am the owner of the studio, but I have a personal account, since I work with my models on the most comfortable terms for them.
Anyway, I withdraw quite large sums every day. And every day I receive a payment less than stated according to the rules of the site, and also less than what is indicated in the letter about the sent payment.
I have tried to contact support several times to get an explanation of the criteria for payment, but I have only been able to get direct answers to three questions
1) we deduct the site's commission (I know, and the letter to the mail already deducts the commission from the total amount, but I get even less)
2) we fix the bitcoin at the time of sending (yes, this is great, because some time ago this was not the case)
3) you must be prepared for exchange rate fluctuations (I am very prepared for them, but the difference does not correspond to exchange rate fluctuations)
several times I asked at what rate the bitcoin was bought for payment to me - I did not receive an answer
several times I sent a request for an explanation of the difference - but I am ignored
today I received a payment of $ 1204 less than indicated in the letter .
and today the rules are such that I should have paid a fixed commission of $45
the letter about sending arrived at 19:10 my time, I recorded it in usdt at 20:25
from 19:10 to 20:25 the bitcoin rate only grew in relation to usdt, then how did I get $1204 less?

if you do not understand this issue, please, direct me to the person who can really explain everything to me correctly.

I think there are not many people for whom the underpayment of $1204 will be a trifle.

I have been trying to get adequate explanations from support for two years now and today they have crossed the limit of my patience.

I am waiting for information from you, who I can contact in chaturbate support to get clarifications
I can also provide all evidence of what payments actually came, as well as evidence of my requests to support on this issue
I really hope for your answer, this kind of attitude makes me despair and makes me feel negative towards the site as a whole, because I feel cruelly deceived and literally robbed, since I don’t get an explanation for what is happening
I don’t want to text here my mail address, how can I give it to you more privacy?

 

[KingMarti]

Hello @punker barbie i hope you feel good
I have had a long-term misunderstanding with the support service regarding bitcoin payments
I am the owner of the studio, but I have a personal account, since I work with my models on the most comfortable terms for them.
Anyway, I withdraw quite large sums every day. And every day I receive a payment less than stated according to the rules of the site, and also less than what is indicated in the letter about the sent payment.
I have tried to contact support several times to get an explanation of the criteria for payment, but I have only been able to get direct answers to three questions
1) we deduct the site's commission (I know, and the letter to the mail already deducts the commission from the total amount, but I get even less)
2) we fix the bitcoin at the time of sending (yes, this is great, because some time ago this was not the case)
3) you must be prepared for exchange rate fluctuations (I am very prepared for them, but the difference does not correspond to exchange rate fluctuations)
several times I asked at what rate the bitcoin was bought for payment to me - I did not receive an answer
several times I sent a request for an explanation of the difference - but I am ignored
today I received a payment of $ 1204 less than indicated in the letter .
and today the rules are such that I should have paid a fixed commission of $45
the letter about sending arrived at 19:10 my time, I recorded it in usdt at 20:25
from 19:10 to 20:25 the bitcoin rate only grew in relation to usdt, then how did I get $1204 less?

if you do not understand this issue, please, direct me to the person who can really explain everything to me correctly.

I think there are not many people for whom the underpayment of $1204 will be a trifle.

I have been trying to get adequate explanations from support for two years now and today they have crossed the limit of my patience.

I am waiting for information from you, who I can contact in chaturbate support to get clarifications
I can also provide all evidence of what payments actually came, as well as evidence of my requests to support on this issue
I really hope for your answer, this kind of attitude makes me despair and makes me feel negative towards the site as a whole, because I feel cruelly deceived and literally robbed, since I don’t get an explanation for what is happening
I don’t want to text here my mail address, how can I give it to you more privacy?

how is the $1204 as a percentage of what you were supposed to be paid? Is it a large % (like over 10%) of what it should have been?
From my understanding of cb's payment system they use MassPay for sending crypto payouts so they are converting at the rates given to them by mass pay not the market rate and masspay frankly gives shit conversion rates. It wouldn't be bad enough that you lose a large percentage but it could easily result in something like a 5% difference from the market rate. Masspay dont publish their exchange rates so there's no way to see if the issue was just cb got a shit exchange rate.

Not 100% this is what it is, just putting things together from what I know about their payment system and other sites that are a little more transparent that have the same issues (fee's that can be 100x higher than the network fees for example or bad exchange rates).

 

[Hey_glad_to_see_you]

how is the $1204 as a percentage of what you were supposed to be paid? Is it a large % (like over 10%) of what it should have been?
From my understanding of cb's payment system they use MassPay for sending crypto payouts so they are converting at the rates given to them by mass pay not the market rate and masspay frankly gives shit conversion rates. It wouldn't be bad enough that you lose a large percentage but it could easily result in something like a 5% difference from the market rate. Masspay dont publish their exchange rates so there's no way to see if the issue was just cb got a shit exchange rate.

Not 100% this is what it is, just putting things together from what I know about their payment system and other sites that are a little more transparent that have the same issues (fee's that can be 100x higher than the network fees for example or bad exchange rates).

this is about 3 percent of the total amount of the ordered payment
yes, 3% does not sound much, but I do a collom work, making the work of models on the site easier, protecting them from scammers and breaking the rules and much, much more, and the amount that models leave me as a studio is less than these $ 1204
in fact, this commission from chaturbate made my work unprofitable
about the commission for the third-party service chaturbate - I am absolutely sure that by publishing publicly available information about the size of the commission, as well as having publicly available information about the bitcoin rate on the world market, the site does not have the right to charge an additional commission in favor of its counterparty, since this was not specified in the public agreement
for example, stripchat never takes a commission more than the $ 1 + 1% indicated by them (where 1% is the commission to the counterparty)
there is also a site live jasmine, and from them also come the amounts specified in the contract, with a commission to their counterparty Triple a, which is indicated as a percentage before withdrawal
if we assume that cb pays a commission from the model's funds additionally, saying that the commission is a fixed amount, then it turns out that chaturbate violates the law

 

[KingMarti]

this is about 3 percent of the total amount of the ordered payment
yes, 3% does not sound much, but I do a collom work, making the work of models on the site easier, protecting them from scammers and breaking the rules and much, much more, and the amount that models leave me as a studio is less than these $ 1204
in fact, this commission from chaturbate made my work unprofitable
about the commission for the third-party service chaturbate - I am absolutely sure that by publishing publicly available information about the size of the commission, as well as having publicly available information about the bitcoin rate on the world market, the site does not have the right to charge an additional commission in favor of its counterparty, since this was not specified in the public agreement
for example, stripchat never takes a commission more than the $ 1 + 1% indicated by them (where 1% is the commission to the counterparty)
there is also a site live jasmine, and from them also come the amounts specified in the contract, with a commission to their counterparty Triple a, which is indicated as a percentage before withdrawal
if we assume that cb pays a commission from the model's funds additionally, saying that the commission is a fixed amount, then it turns out that chaturbate violates the law

3% sounds like its due to chaturbate paying out bitcoin through mass pay and getting an exchange rate under the market rate. Chaturbate says that the tokens will be exchanged at the time of payment but they dont specify what exchange they are using (all exchanges have different rates, the market rate you see on coinmarket cap is the average, usually the exchange rates are very close together but then there are what I would call prediory platforms like mass pay that will fuck anyone they can on the exchange rate)

It's not so much a fee (that's why you pay the crazy $45 fee from your earnings ) but its more if btc is showing at a market rate of 100k for example, masspay will be giving cb a rate of say 105k per btc (chaturbate is buying btc from masspay at whatever rate masspay sets), it's cb using a shit service which means they get ripped off on the exchange rate.

Also just going to clarify, I am not disagreeing, I think all sites should disclose how they are sending the crypto (direct transfer, like from a normal exchange or a wallet, or a payment service from someone like masspay) The payment service will always fuck their customers on rates because they take profit from the exchanges that happen (mass pay also has awful exchange rates on fiat currency too).

Again not 100% sure they are using mass pay, but how poor they crypto payments are lines up with it.

 

[punker barbie]

Hello @Hey_glad_to_see_you Please provide your username or ticket number so I may pass it along to our Support team

 

[Hey_glad_to_see_you]

3% sounds like its due to chaturbate paying out bitcoin through mass pay and getting an exchange rate under the market rate. Chaturbate says that the tokens will be exchanged at the time of payment but they dont specify what exchange they are using (all exchanges have different rates, the market rate you see on coinmarket cap is the average, usually the exchange rates are very close together but then there are what I would call prediory platforms like mass pay that will fuck anyone they can on the exchange rate)

It's not so much a fee (that's why you pay the crazy $45 fee from your earnings ) but its more if btc is showing at a market rate of 100k for example, masspay will be giving cb a rate of say 105k per btc (chaturbate is buying btc from masspay at whatever rate masspay sets), it's cb using a shit service which means they get ripped off on the exchange rate.

Also just going to clarify, I am not disagreeing, I think all sites should disclose how they are sending the crypto (direct transfer, like from a normal exchange or a wallet, or a payment service from someone like masspay) The payment service will always fuck their customers on rates because they take profit from the exchanges that happen (mass pay also has awful exchange rates on fiat currency too).

Again not 100% sure they are using mass pay, but how poor they crypto payments are lines up with it.

3% sounds like its due to chaturbate paying out bitcoin through mass pay and getting an exchange rate under the market rate. Chaturbate says that the tokens will be exchanged at the time of payment but they dont specify what exchange they are using (all exchanges have different rates, the market rate you see on coinmarket cap is the average, usually the exchange rates are very close together but then there are what I would call prediory platforms like mass pay that will fuck anyone they can on the exchange rate)

It's not so much a fee (that's why you pay the crazy $45 fee from your earnings ) but its more if btc is showing at a market rate of 100k for example, masspay will be giving cb a rate of say 105k per btc (chaturbate is buying btc from masspay at whatever rate masspay sets), it's cb using a shit service which means they get ripped off on the exchange rate.

Also just going to clarify, I am not disagreeing, I think all sites should disclose how they are sending the crypto (direct transfer, like from a normal exchange or a wallet, or a payment service from someone like masspay) The payment service will always fuck their customers on rates because they take profit from the exchanges that happen (mass pay also has awful exchange rates on fiat currency too).

Again not 100% sure they are using mass pay, but how poor they crypto payments are lines up with it.

I absolutely agree with you
now they sent me a standard letter that I received my payment (oh, yes, I know)
and if you follow the calculation, then they bought bitcoin for $109111.2
at the same time, on the coinbase exchange, the cost of bitcoin was $106086.52
on the binance exchange $106073.9
on the bybit exchange 106060
on the mexc exchange 105869.72
thus their aggregator provides them with a price exactly three percent less than the one that you could offer the most profitable for purchase at that time
while the fluctuations on other exchanges are no more than 0.2%
and yes, they absolutely know for sure that they give models a rate much worse than on world exchanges, but they do not provide information about this anywhere, moreover, they do not explain this even in personal messages to support
why don't they talk about it directly?

considering that cb takes 30% of the funds on the site from models minimum, they also hang their counterparty costs on the models?

and don't even consider it necessary to convey this information to the model?

and interestingly, I also have screenshots of correspondence with support, kindly provided to me by another model, where she sends them a screenshot of the cost of bitcoin on binance, and a request to recalculate correctly, and they recalculated and sent the underpayment in accordance with the binance rate!

that is, they can admit that the calculation made is incorrect, but for some reason not for everyone?

 

[Hey_glad_to_see_you]

Hello @Hey_glad_to_see_you Please provide your username or ticket number so I may pass it along to our Support team

unfortunately at the moment I have not yet received a response to my last request, so it has not been assigned a number that is visible to me, however the last answered request had the number 24542190
probably by this number you will be able to determine my email address.
if this is not the case, please let me know, I will try my best to ensure that my letter is found and answered

 

[punker barbie]

Hello @Hey_glad_to_see_you I have confirmed that the support team has responded to your inquiry. Ticket #24542190

 

[Hey_glad_to_see_you]

Hello @Hey_glad_to_see_you I have confirmed that the support team has responded to your inquiry. Ticket #24542190

Hello @Hey_glad_to_see_you I have confirmed that the support team has responded to your inquiry. Ticket #24542190

Nope
Support closed 3 my old mails about asking fraud tokens or not, but they don’t answered me on any my mail about payment issues I sent them 1 July, 14 June, April 28
It is only for this year, and a lot by 2024
No one of them have any correct answers or information

 

[Hey_glad_to_see_you]

Hello @Hey_glad_to_see_you I have confirmed that the support team has responded to your inquiry. Ticket #24542190

@punker barbie
I got an answer from support, but I asked other questions in the same mail line, but they stopped to answer me and ignoring again.
the information they provided is not true.in particular, the rate they call the rate for buying bitcoin to form the payment. there was no such rate on any exchange (I checked bybit, coinbase, kraken, binance, htx, mexc)I am absolutely sure that the rate they named for buying bitcoin did not exist on any exchange, so I asked for 1) an indication of which exchange they can confirm the rate they indicated
2) documents confirming the purchase of bitcoin at the rate they indicated to form a payment to me
This is a really serious question, since the law on public offers is in force in most countries and quite clearly defines the boundaries of the agreement
All transaction parameters must be transparentHowever, support in the responses refers to fluctuations in the rate, which in fact did not exist to the extent that the commission was withdrawnI would like to get advice from the legal department of chaturbate to find out if they can say anything about the opacity allowed in the public offer agreement allowed by the site regarding payments
And I am also interested in the hierarchy of the chaturbate support teamI communicate with support of other sites enough to understand - such ignoring of requests, evasion of answers can only mean incompetence of employees and their coddling of each other. I have no hope that I can ask one support employee to take action against another support employee, I would like to file a complaint about their work to the higher management. Please tell me, do I need to write Multi Media for this or are there other contacts more relevant to this question?

 

[Hey_glad_to_see_you]

I would like to make some clarifications for the rest of the forum participants.
support told me that at the time of processing my payment the cost of bitcoin was $109117.1261
I received a letter about sending me a payment on July 1 at 19:10 (utc+3) you can check on any exchange you use and understand that at that time there was no such rate anywhere (there was no such rate at all on July 1 (utc+3), which means chaturbate sent me a payment at a fictitious rate.
Why am I so sure?

Just tell me what kind of wonderful exchange buys bitcoin for $3200 more expensive than on other exchanges and you will never see me on webcam sites again, because at that very moment I will run to buy bitcoin on international exchanges and sell on the one that chaturbate will name, I think about a week will be enough for me to become a multimillionaire and not think about any more commissions, because the magic exchange will buy my bitcoin at 3-5% above the market
that's why I I am absolutely sure that the course that was mentioned to me was invented by chaturbate

 

[Squinkle]

Just tell me what kind of wonderful exchange buys bitcoin for $3200 more expensive than on other exchanges

Chaturbate is most likely purchasing the crypto at the higher rate because they are completing the crypto transfer through a payment processing service. Payment processors often charge 2-3% per transaction.

Imo it's a little ridiculous that Chaturbate is leaving you responsible for that fee as well as the crypto transaction fee.

 

[Hey_glad_to_see_you]

Chaturbate is most likely purchasing the crypto at the higher rate because they are completing the crypto transfer through a payment processing service. Payment processors often charge 2-3% per transaction.

Imo it's a little ridiculous that Chaturbate is leaving you responsible for that fee as well as the crypto transaction fee.

yes, I agree with you. but what interests me most is how they break the law by not including information about their provider's fees in the withdrawal terms and publishing information first about a fee of 0.0006 btc, then 0.0005 btc, and according to the latest information, a fixed $45 for withdrawal in btc. Nowhere else have I found information that their provider can set its own btc rate, different from world rates.
but from what they do, it turns out that they can indicate in the contract that sending is generally free, but calculate the cost of bitcoin not by 3%, but by 15% worse, than on world markets. Will this mean that for the model this withdrawal was really free? absolutely not.
at the same time, other sites indicate the fee taking into account the cost of the provider's rate, as it should be.
if I get the following answer from them, I hope it will help clarify whether this is a scam by Chaturbate itself, or they did not understand that the provider is deceiving them, or this is the work of their employees. Since I noticed another curious thing, almost every time the payment is sent at a high rate and then, by the time it reaches me, the rate falls. I have been working with cryptocurrency exchanges for about five years, which is enough to come to the conclusion that such sendings at peaks are not accidental.

 

[KingMarti]

yes, I agree with you. but what interests me most is how they break the law by not including information about their provider's fees in the withdrawal terms and publishing information first about a fee of 0.0006 btc, then 0.0005 btc, and according to the latest information, a fixed $45 for withdrawal in btc. Nowhere else have I found information that their provider can set its own btc rate, different from world rates.

You can sell your btc, usd, euro etc at any rate you want to sell it at, it just makes it hard to find people to buy it. The people chaturbate buy their btc from solved that problem by building a payment service where it's either buy at the rate they sell at or dont use the currancy. It's not something thats unique to btc, they use the same company for euro payments to and like with btc get fucked on the exchange rate.

 

[Hey_glad_to_see_you]

You can sell your btc, usd, euro etc at any rate you want to sell it at, it just makes it hard to find people to buy it. The people chaturbate buy their btc from solved that problem by building a payment service where it's either buy at the rate they sell at or dont use the currancy. It's not something thats unique to btc, they use the same company for euro payments to and like with btc get fucked on the exchange rate.

I think if we are considering legal agreements on payment in a specific currency, then naming a rate at which the recipient of funds will not be able to sell them if he wants to at the same second is fraud.
for example, I have a letter that Chaturbate sends about sending currency, I can have a deposit in bitcoin equal to this amount in order to sell it at the moment I receive the letter. that is, if I sell my bitcoin at the same minute that Chaturbate sends it, then the discrepancy in cost should not be more than 0.2%. And I did the same, in order to reduce possible losses on the rate, but as you can guess, it did not work because the rate at which Chaturbate buys is different from the world rate.
yesterday I reconfigured payments to send me currency in usdt trc20 and now I know more interesting details about where payments from Chaturbate come from. but I will keep quiet about this for now, I wonder what they will say

 

[KingMarti]

I think if we are considering legal agreements on payment in a specific currency, then naming a rate at which the recipient of funds will not be able to sell them if he wants to at the same second is fraud.
for example, I have a letter that Chaturbate sends about sending currency, I can have a deposit in bitcoin equal to this amount in order to sell it at the moment I receive the letter. that is, if I sell my bitcoin at the same minute that Chaturbate sends it, then the discrepancy in cost should not be more than 0.2%. And I did the same, in order to reduce possible losses on the rate, but as you can guess, it did not work because the rate at which Chaturbate buys is different from the world rate.
yesterday I reconfigured payments to send me currency in usdt trc20 and now I know more interesting details about where payments from Chaturbate come from. but I will keep quiet about this for now, I wonder what they will say

I think you will have the same issue on TRC20 with USDT, because while USDT is almost always .99-1.01, the platform they are buying it through will probably be giving .96-.97 per $1 exchanged.

The only way to get the full USD value is going to be getting paid in USD because then there is no currency exchange required and that is where their payment provider puts their markup. It sucks but it's not illegal for a currency exchange to charge whatever they want for the conversion, the reason most currency exchanges are within a very small % of each other is because of competition, but if you are the sole payment operator for a site then you have no competition to make you pay market rates.

They should 100% imo be disclosing that they arnt using the market rates and the company they use marks up the exchange though