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I don't think that's correct. Apple's cut is taken at the time users buy TikTok coins, not at time of donation/withdrawal. You get more TikTok coins for the sa
by hey2022 4y ago
I don't think that's correct.
Apple's cut is taken at the time users buy TikTok coins, not at time of donation/withdrawal. You get more TikTok coins for the same amount of money on web because they don't have to give Apple/Google a cut. So once your fiat is converted to a TikTok coin it's already "clean", meaning all app cuts have been accounted for.
- deleted 4y ago[deleted]
- protoc 4y agoThe giver buys 100tiktok coin for 100usd. The receiver gets 100tiktok coins from the giver. For google/apple to get there 30% cut, the 100tiktok coin can't convert back to 100usd.
- view 4y agoI think their system works like this: You buy two coins for $0.02 and they give one diamond or $0.01 to the recipient. This looks like a 50% cut but after App Store fees and taxes it's more like 25%. Still bad but not 70% as implied in the article.
- ravel-bar-foo 4y ago> BBC staff in London sent TikTok gifts worth $106 from another account. At the end of the livestream, the balance of the Syrian test account was $33. So you think this is because of quantization at the level of cents in the unit of account?
- view 4y ago> while the company takes up to 70% of the proceeds, a BBC investigation found. I’m thinking it’s not possible for TikTok to take 70% of the proceeds if there’s App Store fees and sales taxes / VAT involved. But please show me the math if I’m wrong.