5 ms·

one thing killing me, because credit cards are involved, with $1 it ends up with $0.35 + 2.7% + 5% fees. So for small monthly contribution of $1 developer gets

one thing killing me, because credit cards are involved, with $1 it ends up with $0.35 + 2.7% + 5% fees. So for small monthly contribution of $1 developer gets $0.59... there is clearly market for something more efficient...

AsyncAwait 9y ago
It seems like cryptocurrencies could help here, if only the friction was still lowered significantly.
- hobarrera 9y ago
  There's still money being lost; when you buy coins, and when the developer sells them. Unless they can pay their usual expenses using cryptocurrencies, they'll need to sell, at a loss (even if possible less than CC).
  - AsyncAwait 9y ago
    In practically any monetary transaction, there's some overhead and thus money being lost, (3rd parties involved, price volatility etc.) and so the question then becomes, how much money is being lost? Cryptocurrencies offer lower overhead in this regard, at least for now.
progval 9y ago
Liberapay is a libre alternative for Patreon (with anonymous patrons and no reward) with much lower fees for bank transfer/automatic debit [1], as it is funded via donations [1]: https://liberapay.com/about/faq https://liberapay.com/about/faq
- Marmot2017 9y ago
  And you can start pledging to a project before they have joined. https://liberapay.com/on/twitter/GIMP_Official/ https://liberapay.com/on/twitter/GIMP_Official/
antler2 9y ago
Can the devs send IBAN/PM it to me? I hate to pay some third party %charges? I am in France itself would like to make a Bank Transfer
- Marmot2017 9y ago
  See the bottom of page http://film.zemarmot.net/en/ http://film.zemarmot.net/en/
ZenoArrow 9y ago
> "there is clearly market for something more efficient..." https://en.liberapay.com/ https://en.liberapay.com/
exikyut 9y ago
What about a system that holds X amount of donations in escrow until the amount hits a certain threshold, then releases the total amount in one actual (bank/payment processor) transfer. Might mean lower fees. Such a service could also have a "release funds now" option for emergencies where you'd accept paying hiked-up fees.
- maxyme 9y ago
  A problem is that there is a limit on how long you can wait to make a credit card charge before your first verification charge expires. If that makes sense. Basically there's no way to determine the card has 3 months of $1 on it when you want to make the charge and if you make it earlier you pay the fees.
  - exikyut 9y ago
    Extremely good point. I was just thinking about the intermediary->payee bit. I forgot the payer->intermediary bit, and that this is a credit card charge too. Now I realize I mentally modeled the whole problem incorrectly. Thanks for pointing that out.

AsyncAwait 9y ago

It seems like cryptocurrencies could help here, if only the friction was still lowered significantly.

hobarrera 9y ago
There's still money being lost; when you buy coins, and when the developer sells them. Unless they can pay their usual expenses using cryptocurrencies, they'll need to sell, at a loss (even if possible less than CC).
- AsyncAwait 9y ago
  In practically any monetary transaction, there's some overhead and thus money being lost, (3rd parties involved, price volatility etc.) and so the question then becomes, how much money is being lost? Cryptocurrencies offer lower overhead in this regard, at least for now.

progval 9y ago

Liberapay is a libre alternative for Patreon (with anonymous patrons and no reward) with much lower fees for bank transfer/automatic debit [1], as it is funded via donations [1]: https://liberapay.com/about/faq https://liberapay.com/about/faq

Marmot2017 9y ago
And you can start pledging to a project before they have joined. https://liberapay.com/on/twitter/GIMP_Official/ https://liberapay.com/on/twitter/GIMP_Official/

antler2 9y ago

Can the devs send IBAN/PM it to me? I hate to pay some third party %charges? I am in France itself would like to make a Bank Transfer

Marmot2017 9y ago
See the bottom of page http://film.zemarmot.net/en/ http://film.zemarmot.net/en/

ZenoArrow 9y ago

> "there is clearly market for something more efficient..." https://en.liberapay.com/ https://en.liberapay.com/

exikyut 9y ago

What about a system that holds X amount of donations in escrow until the amount hits a certain threshold, then releases the total amount in one actual (bank/payment processor) transfer. Might mean lower fees. Such a service could also have a "release funds now" option for emergencies where you'd accept paying hiked-up fees.

maxyme 9y ago
A problem is that there is a limit on how long you can wait to make a credit card charge before your first verification charge expires. If that makes sense. Basically there's no way to determine the card has 3 months of $1 on it when you want to make the charge and if you make it earlier you pay the fees.
- exikyut 9y ago
  Extremely good point. I was just thinking about the intermediary->payee bit. I forgot the payer->intermediary bit, and that this is a credit card charge too. Now I realize I mentally modeled the whole problem incorrectly. Thanks for pointing that out.