The title says 0.004 BTC whereas the post says 0.0004 BTC so which one of them is the correct one ?
Assuming that the amount is 0.0004 BTC I guess it would be inconvenient for a new buyer to purchase BTC and then transfer it to you because of the fees.
Existing bitcoin users though can use their wallets and set a low fees for transaction since you mentioned you don't mind waiting.
You can setup a LN but even that would benefit more the existing users only and new comers would still feel uncomfortable.
Another option would be that you accept cheaper altcoins and then convert it to bitcoin as per your need.
Topic: Selling items for 0.0004 Bitcoin. - page 2. (Read 300 times)
Small Suggestion : Along with bitcoin adding some low transaction fee coins like tron will benefit the buyers. When the buying is possible through Bitcoin, to buy Bitcoin there'll be small commission. If the same is done in terms of tron, then the buyer gets profit while making further transaction. If it is done through bitcoin, buyer will be charged with atleast twice the transaction costs of buying with tron.
You probably want to change the title of this thread as you've written 0.004 which is a decent amount to broadcast.
From a customer's point of view, you should allow lightning payments whether you have a hundred or just one of these items.
Do you think that in view of the current high price of Bitcoin, it is worth doing this over the regular blockchain, or should I open a lightning account?
I think that you should do this lightning-ly instead. Yeah, the transaction fees aren't that many, but it depends on the total items you have. For instance, if you just have 10-20 items for sale, then it isn't going to make a significant difference, but if you have more than a hundred, then open a lightning channel and scale it.From a customer's point of view, you should allow lightning payments whether you have a hundred or just one of these items.
We are currently talking about a value of about $25, and if we take into account that you do not care about the time of confirmation of the transaction - then the fee for a standard transaction (1 input/2 outputs) would be less than $0.5, even if it is a transaction sent from a Legacy address.
The second part of the question is a bit more complicated though, because if someone really had to buy Bitcoin to make this purchase, we have to consider the fees that a potential buyer will have to send a fiat to crypto-exchange, and then send BTC from exchange to you (or in his wallet, then to you).
Depending on the exchanges, the withdrawal fee is around 50 000 sat on Binance, and I believe it is not much different from other exchanges. In other words, someone who does not have Bitcoin would have to pay at least the same as the price of your service/product to buy Bitcoin.
The second part of the question is a bit more complicated though, because if someone really had to buy Bitcoin to make this purchase, we have to consider the fees that a potential buyer will have to send a fiat to crypto-exchange, and then send BTC from exchange to you (or in his wallet, then to you).
Depending on the exchanges, the withdrawal fee is around 50 000 sat on Binance, and I believe it is not much different from other exchanges. In other words, someone who does not have Bitcoin would have to pay at least the same as the price of your service/product to buy Bitcoin.
I want to list a number of items for sale at a fixed price of 0.0004 Bitcoin. Do you think that in view of the current high price of Bitcoin, it is worth doing this over the regular blockchain, or should I open a lightning account? The reference to the Bitcoin price is of course related to transaction fees, rather than the value of Bitcoin itself. Confirmation speed is not important, it doesn't matter if it takes a day or so to confirm.
Another consideration is the size of the transaction. Will it limit sales to people who already own Bitcoin, or will buyers be prepared to purchase such a small amount?
Another consideration is the size of the transaction. Will it limit sales to people who already own Bitcoin, or will buyers be prepared to purchase such a small amount?
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