Our IRL business offers customers a choice between added 3% credit card fees *on top* OR a 10% discount for bitcoin payments. Considering that most businesses operate on somewhere around a 30% margin or markup, being willing to offer customers a10% discount is basically already cutting any ‘profits’ by 1/3.
On the other hand, I personally believe when it comes to incentivizing #Bitcoin use, the onus shouldn’t be on small businesses at all. IMO it should really fall on #Bitcoiners who want to incentivize bitcoin adoption to be willing to pay MORE in order to convince businesses to accept bitcoin as payment. Flip the tables. We *want* to be able to SPEND bitcoin everywhere and anywhere. The only way to make that happen is to make it worth while for everyone involved.
The more we are willing to spend our bitcoin, the more businesses will accept it, the more valuable it becomes – and the cycle continues.
I know I am personally happy to pay a small mark up to help support Bitcoin-based businesses and services. I’m also glad to offer a discount on my proof of work if you #paymeinbitcoin instead of fiat 🤙
SweetSats
npub1sw…hns6h
2024-03-06 04:10:31
in reply to nevent1q…jv2r
Author Public Key
npub1sweetl0gskmka0n5qevt7v2wj9q56ntwkmaeywffw4ftaucmcakquhns6hPublished at
2024-03-06 04:10:31Event JSON
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"content": "Our IRL business offers customers a choice between added 3% credit card fees *on top* OR a 10% discount for bitcoin payments. Considering that most businesses operate on somewhere around a 30% margin or markup, being willing to offer customers a10% discount is basically already cutting any ‘profits’ by 1/3. \n\nOn the other hand, I personally believe when it comes to incentivizing #Bitcoin use, the onus shouldn’t be on small businesses at all. IMO it should really fall on #Bitcoiners who want to incentivize bitcoin adoption to be willing to pay MORE in order to convince businesses to accept bitcoin as payment. Flip the tables. We *want* to be able to SPEND bitcoin everywhere and anywhere. The only way to make that happen is to make it worth while for everyone involved.\n\nThe more we are willing to spend our bitcoin, the more businesses will accept it, the more valuable it becomes – and the cycle continues.\n\nI know I am personally happy to pay a small mark up to help support Bitcoin-based businesses and services. I’m also glad to offer a discount on my proof of work if you #paymeinbitcoin instead of fiat 🤙",
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