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4 sats \ 3 replies \ @fm 21 Sep 2023 \ on: I orange pilled a small merchant, help make it stick! bitcoin
"She said “not yet!” She then proceed to tell a story of how a fellow vendor said during a team huddle that “if we passed a 20 dollar bill, by the time it got around this circle it would still be a 20 dollar bill, but if we used credit card transactions, all we would have left are transaction charges from the banks.”
Not very different from bitcoin.. Cash has no fees, but btc does have them
The primary difference is that the customer pays the fees rather than the business. This feels more fair and the incentives are better aligned
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You're 100% right. Onchain transactions do cost fees - the fees help keep Bitcoin secure and ticking along.
Lightning does have fees but are pretty tiny.
Also, many things have hidden costs, cash included, to keep them secure and ticking along too. We just don't have an idea just how much it costs.
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"the fees help keep Bitcoin secure and ticking along." - i agree and see them as necessary
Just found funny someone being pilled got an example that i guess was totally out if point.. Since we also pay fees.. (on-chain i mean).
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