3-5% is still a large difference than almost 100% transaction fees for bitcoin's microtransactions. You can never hide the fact that bitcoin users would know that when they are going to do a microtransaction, the transaction fee is almost equal to the amount that they are sending. You're just going to waste your time setting up all these "we accept bitcoin" things since most bitcoin users wouldn't use that service anyway if they are being practical.
Lol. Credit card machines? You can literally just plug in a credit card scanner to your phone in order to have a card transaction.
Lol. Credit card machines? You can literally just plug in a credit card scanner to your phone in order to have a card transaction.
400 satoshi cost 1 cent of dollar currently.
EDIT: big bull I said, forgot to add the bytes
size of transaction=in * 146 + out * 33 + 10 gives 189 bytes minimum, with BTC = 2500 USD this would make a minimum of 1.89 USD. If the creditcard charges 3%, the BTC is better for payments over 63 USD.
But most local businesses are selling simple stuffs like coffee, fruits, vegetables, donuts, etc. Those stuffs don't go higher than 63$. Nice computation, by the way, but that just gives us a conclusion that bitcoin is only good to use for huge purchases. As the time goes by, the transaction fee is going higher and higher. I was surprised last night seeing that a small transaction costs 0.002BTC for transaction fee. As time goes by, that 63$ for btc being a better payment method goes higher and higher. It might be 63$ today but it can be 70$ next week, and so on.
And I know the answer after all research. Customers should have discounts when they will to pay with btc.
Sure discounts attract customers. But as a local business owner, are you prepared to charge less to people just because they are using bitcoins? You're lowering your profit with this choice.
