WHY does LTT not accept Brave tips?

[BananaBoat]

Why.

Just why.

I know you know about Brave, you've finally spoken about it (just barely during a techlinked episode)..

Why do you not accept Brave tips??
There could literally be thousands of dollars in tips from viewers using Brave simply waiting for you to claim them.

This does not affect your current youtube viewers in ANY way.

This simply adds additional functionality for viewers using Brave.

This is essentially FREE money for both the users who tip you, and well, you.

I have over 50$ from the past 6 months simply from using Brave.... BUT MY FAVORITE CONTENT CREATORS WONT ACCEPT IT.

This is literally a system built for content creators.

You guys advocate not being dependent upon one single source/corporation for your business.. Brave is another way you can diversify how you as a content creator receive support from viewers (and ads via Brave)
Getting tipped from users via any platform (Including youtube, or even floatplane.. Users can tip your Youtube channel directly via Brave) and you ACTUALLY receive over 90% of those tips..

With how fast this browser is growing, and how well you are a content creator looking for multiple streams of income, I simply don't understand why you wont take the 50$ burning in my Brave wallet.

[minibois]

Apparently LinusMediaGroup dislikes crypto donations:

Quote

LMG has taken policy of not accepting cryptocurrency in any form. If you want to donate (aka buy months worth of FP subscription at $3 USD), convert that to USD or some other, more stable currency. As a feature for forums this has been asked and denied before. I think besides crypto not being LMG's pick for payments, it would be too much work for some few users.

 

But I would love to see a more official response.

[amdorintel]

1 hour ago, minibois said:

LMG has taken policy of not accepting cryptocurrency in any form.

yeah he want no trouble from the tax man!

[harryk]

I suspect LMG or any serious business would be wary of accepting any form of cryptocurrency. It opens all kinds of possible tax and legal issues. They'd have to sell it before they could actually reap any benefit as well adding more work and possibly requiring hiring an accountant just to handle that. At the end of the day it might cost more in time and effort than it will yield.

 

Additionally the Brave browser is not without its own criticisms which LMG may want to avoid associating with.

[Rohith_Kumar_Sp]

This is Louis Rossmann's channel, have no idea why LTT have opted out embracing any sort of payments be it crypto or not 

[Guest]

not much point in accepting donations you cant use, sorry man

[SenKa]

6 minutes ago, Rohith_Kumar_Sp said:

This is Louis Rossmann's channel, have no idea why LTT have opted out embracing any sort of payments be it crypto or not 

Linus Media Group is worth a lot more than Rossman Repair. It is a far larger company and the idea that such a large, profit driven company doesn't want to risk some of their income being unstable is completely understandable.

 

LMG treats donations as income because they make money almost solely off their viewers, while Rossman makes money off his work and treats youtube as a hobby. Two different business structures. Nothing against LMG, but at the end of the day thats how it is.

[Roswell]

51 minutes ago, harryk said:

I suspect LMG or any serious business would be wary of accepting any form of cryptocurrency. It opens all kinds of possible tax and legal issues. They'd have to sell it before they could actually reap any benefit as well adding more work and possibly requiring hiring an accountant just to handle that. At the end of the day it might cost more in time and effort than it will yield.

 

Additionally the Brave browser is not without its own criticisms which LMG may want to avoid associating with.

It's actually not that complicated, you sell the crypto and report the income on your taxes.

[PlayStation 2]

Probably because about 17 people in the world use Brave to begin with.

[amdorintel]

2 hours ago, SenKa said:

unstable

true, but they could just sell it right away incurring a tiny bit of labor charge

i think its more to do with the taxman

[LogicalDrm]

8 hours ago, minibois said:

Apparently LinusMediaGroup dislikes crypto donations:

 

But I would love to see a more official response.

 

My posts are based on what Linus has said in WAN Shows. Linking would be hell as I don't remember which show it was.

 

1 hour ago, amdorintel said:

true, but they could just sell it right away incurring a tiny bit of labor charge

i think its more to do with the taxman

There's whole setting up. Main reason is volatility and rather high conversion fees (the way crypto-companies make their money). Why would LMG need to work more when they already have good methods for income? They went for Vessel/FP as those are better for business. Donations are bit odd when you are business rather than person.

[Kilrah]

5 hours ago, Vitamanic said:

It's actually not that complicated, you sell the crypto and report the income on your taxes.

But until sold anything you have in a wallet still need to be declared... but the value is unknown since it could change anytime. 

[lewdicrous]

Unregulated, highly volatile currencies are not that good as donations to a busy and fast flowing company.. that's news to me.

[Speakerator]

It took me literally a minute to realize that this topics is not about some random new meme format aka 'Linus Brave Tips' with some horrifying picture including lots of flesh, a screwdriver, watercooling parts, human orifices and - possibly - LTT-branded underwear...

 

In hindsight, I'm not even sure what made me click on the link... 

[NineEyeRon]

I think it’s best avoided for LMG. Not worth the hassle.

[RonnieOP]

If brave is actually worth anything then it should be easy for you to convert it and donate.

 

Personally i dont care for crypto. The only use i get from it is avoiding chargebacks. But when i get it i cash out right away.

 

Its not worth the hassle for me. And i dont blame LTT for not wanting to deal with it either. 

 

Take the time and effort to set it up then its value drops to next to nothing. Screw that.

[Rohith_Kumar_Sp]

14 hours ago, SenKa said:

Linus Media Group is worth a lot more than Rossman Repair. It is a far larger company and the idea that such a large, profit driven company doesn't want to risk some of their income being unstable is completely understandable.

 

LMG treats donations as income because they make money almost solely off their viewers, while Rossman makes money off his work and treats youtube as a hobby. Two different business structures. Nothing against LMG, but at the end of the day that's how it is.

umm... do you know how much Louis is worth? Louis is in Data Recovery and Mac repair industry, he's making as much money LTT is, i dont like to spew false facts, but Louis himsef has said this many times, he just signed a 10 year Lease agreement on a new store with 13 employees. he just in the recent view mentioned "people always say i'm a millionaire, true but i could have been a multi millionaire if not for some bad decisions" 

also no, he himself has said youtube is no longer an hobby now that he's making good money off of nonations and his videos on 2 channels.

i'm not arguing LTT should but your reasons are kinda off.  

[SenKa]

1 minute ago, Rohith_Kumar_Sp said:

umm... do you know how much Louis is worth? Louis is in Data Recovery and Mac repair industry, he's making as much money LTT is, i dont like to spew false facts, but Louis himsef has said this many times, he just signed a 10 year Lease agreement on a new store with 13 employees. he just in the recent view mentioned "people always say i'm a millionaire, true but i could have been a multi millionaire if not for some bad decisions" 

also no, he himself has said youtube is no longer an hobby now that he's making good money off of nonations and his videos on 2 channels.

i'm not arguing LTT should but your reasons are kinda off.  

Guess I am a bit outdated when it comes to rossman, truth be told its been a while since I've been active in his community. Good on him though.

[Rohith_Kumar_Sp]

Just now, SenKa said:

Guess I am a bit outdated when it comes to rossman, truth be told its been a while since I've been active in his community. Good on him though.

it's been more fun since he started uploading vlog style videos where he goes out to search for new store 2 months ago 
also 

 

[LogicalDrm]

1 hour ago, Rohith_Kumar_Sp said:

also no, he himself has said youtube is no longer an hobby now that he's making good money off of nonations and his videos on 2 channels.

The argument that Louis is not funding his company with all dem cryptos still stands. He's just funding the YT bit. If he would be taking payments as crypto in his main business, then there would be reasoning.

 

Level1 has also talked about using crypto for wages and other such things where something needs to hold its value for month or few. So if LMG decides to add crypto as payment option (it would still be for Floatplane, duh), they will probably add some fluff to keep their losses to minimum. Considering how much 3rd parties take on any payments, and that conversion will also take a cut (same thing happens with currencies, btw).

[John_Rich]

It is odd to not accept any form of payment, especially when you could probably have a simple script written that immediately, or at a predetermined point, sold the crypto for CND and deposited it into an account.  You don't even need to vocally support what Brave is doing, just say "Hey, we don't have any recommendations on crypto, but we are accepting Brave tips, which will be immediately turned into cash."

 

Of course there could be another tax/reg/business reason to not do so.  Like, a requirement in Canada that you submit all records of crypto transactions, which would be too much of a hassle for $500.

[BananaBoat]

It's literally free money. Who cares if its "unstable"?? At the end of the day 5 in USD is 5$ profit.

Even if they don't immediately sell it - its still free money they don't accept.
LTT openly talks against Youtube/Google but won't associate with their smallest but biggest competitor since Google began..?

Taxes are easy - you recieved 500 in USD ... well thats 500 USD profit/revenue just like any other thing.

They didnt "buy" the crypto so they are not doing taxes on "buying and selling" / trading and having to calculate the profit/losses etc.. none of that.

all tips = profit = revenue = USD = essentially normal taxes...

Linus has complained that he recieves almost no money from youtube super tips or whatever they are...

He could literally just accept Brave tips and actually receive OVER 90% of the revenue.

Hell if literally taxes is the issue - then at least turn on Brave tips - wait til you have 50,000$ in your Brave Publisher account or whatever you need to make it worth paying the taxman. I believe you don't report it under taxes until you sell. (at which point is pretty easy - because its simply 100% revenue)

[Kilrah]

3 minutes ago, BananaBoat said:

It's literally free money. Who cares if its "unstable"?? At the end of the day 5 in USD is 5$ profit.

Not if it costs more than $5 to pay someone to deal with it.

 

The whole business model of Brave seems somewhat questionable and it's perfectly normal for some not to want to play the game as well.

[BananaBoat]

Some of the 40,000 verified Brave publishers that accept Brave Tips

wikipedia.org

The Guardian
WikiHow
Vimeo
Washington Post
DuckDuckGo
Gamepedia
npr.org
xda-developers.com
hltv.org

^ These are just some of the biggest ones, of course there are medium and small as well..

So If a stable well known big, medium, and even small company can figure out how to accept Brave Tips without any issues... I'm sure LMG could too.

[BananaBoat]

7 minutes ago, Kilrah said:

Not if it costs more than $5 to pay someone to deal with it.

 

The whole business model of Brave seems somewhat questionable and it's perfectly normal for some not to want to play the game as well.

Exactly, it would make no sense to cash out 5$ of BAT tips.
You can cash out when you want.

Again - " Hell if literally taxes is the issue - then at least turn on Brave tips - wait til you have 50,000$ in your Brave Publisher account or whatever you need to make it worth paying the taxman. I believe you don't report it under taxes until you sell. (at which point is pretty easy - because its simply 100% revenue) "

The entire business model of Google and YouTube is questionable and LINUS himself is the one pointing out everything questionable about it!