0 sats \ 0 replies \ @smartvaults OP 20 Aug 2023 \ parent \ on: Subscription plans vs transaction fees bitcoin
Would you consider adjusting the 'recommended' donation amount based on usage or even feature(s) subscribed? Privacy issues aside, it seems like aligning costs to usage would be fair.
What do you think is a reasonable transaction fee or subscription plan? 0.1% transaction fee or 100k sats per year subscription? What would users pay for a 'perfect' experience? 🤔
I think this is how DoorDash and InstaCart premium subscriptions work. Paying the subscription reduces or eliminates the per transaction fee.
Why is a subscription preferable to developers?
I imagine that a transaction fee model would incentivize developers to encourage more volume vs just saving.
We are looking at FROST and other techniques like MPC.
There are new event kinds and it does leave some metadata around. However, we encourage use of private relays and will offer private-relay-as-a-service to business/groups that require extra privacy. All of the PSBTs and proposal notes are encrypted but there is still metadata.
We could have used a custom backend instead of Nostr but wanted to make it easy to self-host. Implementing something like FROST or MPC will require more backend/coordinator components to operate.
One of the reasons we built Smart Vaults is because we were tired of dealing with distributed multisig hardware wallets for day-to-day needs. They absolutely have a use case of course, and will be supported by Smart Vaults.
We wanted a smooth, high grade experience where users can approve quickly from their phone.
Great summary, thanks. Since Smart Vaults only rely on a bitcoin node and a nostr relay, it is also self-hostable.
This is not possible with Nunchuk, Fireblocks, BitGo, etc.
It's all open source: https://github.com/coinstr
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