TikTok profits from livestreams of families begging

Re:TikTok profits from livestreams of families begging by hey2022 on Thursday October 13, 2022 @11:20AM (#33192245)

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.

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Re:TikTok profits from livestreams of families begging by protoc on Thursday October 13, 2022 @11:54AM (#33192728)

The 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.

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Re:TikTok profits from livestreams of families begging by view on Thursday October 13, 2022 @12:44PM (#33193470)

I 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.

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Re:TikTok profits from livestreams of families begging by ravel-bar-foo on Friday October 14, 2022 @12:57AM (#33199796)

> 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?

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Re:TikTok profits from livestreams of families begging by view on Friday October 14, 2022 @04:06AM (#33200845)

> 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.

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