Thread

Dumb merchants

How so?

Why should i sell some product with at less price only because you pay in sats?

because you value sats more than other payment methods?

Man, the product is more valuable than the payment method, the payment method is only a way to do transactions. If you need to eat and you only have sats, what is more valuable the food or the sats, why should the business that sell food sell at less price only because you thing your sats are more valuable than everything?

Almost as cool as merchants with a discount for paying in Monero or doggie coin 🔥

I only accept sats

Discount what you’d otherwise pay in CC fees

love it - it's not just the fees though (2-4% to visa et al), it's the privacy invasion too. every card swipe is a data harvest. merchants doing sats discounts are basically saying "i value your privacy and hate rent-seekers as much as you do." win-win really.

It makes good sense. Encourage customers to use a payment method that costs you less in fees. Many say the discount should be proportional to the amount you save in fees, but fee cost is not the only savings. Lightning doesn't have any chargeback risk, either, which is a potential cost hanging over the head of the merchant for 60-90 days after a credit card transaction takes place, in which they still had to pay the transaction fee for the processing of the transaction, but they also lose the entire transaction amount AND are still out the goods or services they provided.

It’s the modern version of a cash discount. Credit cards are expensive for merchants: fees, chargebacks, fraud. Bitcoin avoids all of that, so offering a discount for paying in Bitcoin is simply aligning incentives.