4 ms·

You miss the point that the transaction fee is paid by the sender. If I am donating to Mozilla then I send my cryptocurrency, pay the required fee and then Mozi

You miss the point that the transaction fee is paid by the sender. If I am donating to Mozilla then I send my cryptocurrency, pay the required fee and then Mozilla gets the sum I sent. In this case bitpay take 1% of the donation and probably bundle them all up and pay Mozilla at the end of the week/month in cryptocurrency (1 transaction so only 1 fee) or in fiat.

lottin 5y ago
> the transaction fee is paid by the sender You don't know that. The sender can pass the transaction fee on to Mozilla simply by deducting it from the donated amount.
- mike_d 5y ago
  The sender has to pay the transaction fee to get it on the network.
  - lottin 5y ago
    This doesn't contradict what I said.
capableweb 5y ago
> You miss the point that the transaction fee is paid by the sender No, I haven't missed that. So if I send 10 USD via Ethereum to Mozilla, BitPay will take 1% of the amount that reaches Mozilla, but I'll also pay a huge transaction fee on top of that, making it almost guaranteed that I'll pay more in transaction fees than what Mozilla actually gets. That means that the answer to the question "Does giving cryptocurrency result in more of my charitable donation going to transaction fees?" is a sound "Yes" in some cases.
- celticninja 5y ago
  I guess it's a technicality whether the tx fee is part of the donation or not.
  - tsimionescu 5y ago
    It's not a technicality when the question was "will more of my money be going on transaction fees?".
- darawk 5y ago
  Bitpay accepts plenty of cryptocurrencies with very low tx fees.
  - capableweb 5y ago
    Sure, but since the page is called "Donate Bitcoin" and the announcement is explicitly mentioning Dogecoin, Bitcoin and Ethereum, I think it's safe to assume they are mainly focused on Bitcoin.
- roenxi 5y ago
  The only part of the equation that you don't have available is what BitPay's margin is. Mozilla gave that to you. Mozilla can't figure out what your transaction cost is, because it is variable. You have much better information on that part of the transaction than they do.
  - capableweb 5y ago
    > Mozilla can't figure out what your transaction cost is, because it is variable. Yes, I agree with this, but for someone who is using cryptocurrencies the first time, it might not be, and the answer they currently have to that question doesn't say what you said, it says something different.
tsimionescu 5y ago
That only means it's easier for me to know exactly how much money Mozilla is getting. But the real question is: if I have the equivalent of 10 USD in some form, how can I make sure Mozilla gets as much of those 10 USD as possible? The answer will almost certainly be traditional payments infra, especially for small sums. Even if I currently have 10USD worth of BTC, it may be more efficient for me to convert it to actual USD and pay whatever is left through PayPal/a credit card then it is to make an on-chain transaction.

lottin 5y ago

> the transaction fee is paid by the sender You don't know that. The sender can pass the transaction fee on to Mozilla simply by deducting it from the donated amount.

mike_d 5y ago
The sender has to pay the transaction fee to get it on the network.
- lottin 5y ago
  This doesn't contradict what I said.

capableweb 5y ago

> You miss the point that the transaction fee is paid by the sender No, I haven't missed that. So if I send 10 USD via Ethereum to Mozilla, BitPay will take 1% of the amount that reaches Mozilla, but I'll also pay a huge transaction fee on top of that, making it almost guaranteed that I'll pay more in transaction fees than what Mozilla actually gets. That means that the answer to the question "Does giving cryptocurrency result in more of my charitable donation going to transaction fees?" is a sound "Yes" in some cases.

celticninja 5y ago
I guess it's a technicality whether the tx fee is part of the donation or not.
- tsimionescu 5y ago
  It's not a technicality when the question was "will more of my money be going on transaction fees?".
darawk 5y ago
Bitpay accepts plenty of cryptocurrencies with very low tx fees.
- capableweb 5y ago
  Sure, but since the page is called "Donate Bitcoin" and the announcement is explicitly mentioning Dogecoin, Bitcoin and Ethereum, I think it's safe to assume they are mainly focused on Bitcoin.
roenxi 5y ago
The only part of the equation that you don't have available is what BitPay's margin is. Mozilla gave that to you. Mozilla can't figure out what your transaction cost is, because it is variable. You have much better information on that part of the transaction than they do.
- capableweb 5y ago
  > Mozilla can't figure out what your transaction cost is, because it is variable. Yes, I agree with this, but for someone who is using cryptocurrencies the first time, it might not be, and the answer they currently have to that question doesn't say what you said, it says something different.

tsimionescu 5y ago

That only means it's easier for me to know exactly how much money Mozilla is getting. But the real question is: if I have the equivalent of 10 USD in some form, how can I make sure Mozilla gets as much of those 10 USD as possible? The answer will almost certainly be traditional payments infra, especially for small sums. Even if I currently have 10USD worth of BTC, it may be more efficient for me to convert it to actual USD and pay whatever is left through PayPal/a credit card then it is to make an on-chain transaction.