Who pays the price for credit card processing fees?
@npub17248...5tfn from @Breez β‘οΈ shares a personal story of how #bitcoin payments can keep more money in the pockets of working parents.
Login to reply
Replies (10)
I'm interested to know how much extra the extended care was going to cost each parent.
Whether it's CC processing fees or Bitcoin transaction fees, the parents are still paying fees. Am I missing some context here, or am I completely off of the mark altogether? I'm all for business accepting Bitcoin, but it's not like fees disappear because you use Bitcoin.
As an nyc business operator, I'm ready for this!
Compare 3.5% of the transaction cost for a credit card vs. a couple of cents maximum for a Lightning network payment.
Thereβs over 900 families at our school, majority use the after school program. Give or take itβs $50 per family. The fees donβt disappear but they would be significantly lower with bitcoin payments over the lighting network at an avg of 0.3-0.5% vs the 3% paid to credit card fees.
Did I see you say you run a ramen shop? Where can I find you? π
Can we talk about how bitcoin fees can easily go up to $20 per transaction?
You can talk about it all you want but @Breez β‘οΈ makes software for the Lightning network where thatβs not really an issue.
Can Breez open a channel with me? Can I open a small channel with Breez? Don't you technically become custodians to my funds if I use your app directly instead of using my own lightning node?
My wife and I own Tampopo Ramen in Washington heights, tampopo Kitchen - sushi and udon noodles. And The Expat- gastro pub.
Tether on bitcoin reduces one of the frictions at least for now π€