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"One Today is an app that brings together people and nonprofits through the simple act of giving $1." To be clear: you'd be giving the non-profit $0.98, and yo

"One Today is an app that brings together people and nonprofits through the simple act of giving $1." To be clear: you'd be giving the non-profit $0.98, and your credit-card company $0.02: http://www.google.com/onetoday/faq.html http://www.google.com/onetoday/faq.html "How much of my donation will reach the nonprofit? "The nonprofit will get all of your donation except the credit card processing fee of 1.9%"

ryandvm 14y ago
And this is the real value of Bitcoin et al. As more and more commerce moves to the Internet, I become increasingly irked by the credit card processing "tax" levied by Visa/Mastercard. I long for the day we can yank those leeches off the legs of the Internet economy...
- nhaehnle 14y ago
  Of course, Bitcoin is also designed to charge a processing fee. This is currently optional, but it is entirely conceivable that this would change in the long run if Bitcoin ever sees adoption on a serious scale. This holds especially true given that mining awards will go down. Furthermore, services built on top of Bitcoin will have such charges as well. I don't think economics as a science has a consensus theory that has withstood serious empirical shakedowns for explaining how high such fees end up in practice.
  - ceph_ 14y ago
    You know the bitcoin exchanges are taking a transaction fee in the same way the credit card companies are, right?
    - nhaehnle 14y ago
      I'm very much behind on this since you wrote that two days ago, but I wrote my initial reply in the mindset of "what if Bitcoin becomes more pervasive" - as in: it gets increasingly used as an alternate currency. But of course your point still stands for the world today, and that other world will probably never come anyway.
- MichaelGG 14y ago
  2% for all the fraud management seems like a fairly good deal all around.
  - jimktrains2 14y ago
    Processors, issuers, and banks don't do fraud management for the merchant by default (though some banks may do it for the card holder). They _can_ do _some_ fraud management for merchants, but it costs an arm-and-a-leg.
    - nodata 14y ago
      > How quaint. You think processors, issuers, and banks do fraud management for the merchant. Sure, they _can_ do _some_ stuff, but it costs an arm-and-a-leg. Don't be a condescending dick, please.
      - jimktrains2 14y ago
        Sorry. Old peeve of mine with people thinking the CC network does more than it does.
    - MichaelGG 14y ago
      Even if it's for the customer, it's still a very good deal.

ryandvm 14y ago

And this is the real value of Bitcoin et al. As more and more commerce moves to the Internet, I become increasingly irked by the credit card processing "tax" levied by Visa/Mastercard. I long for the day we can yank those leeches off the legs of the Internet economy...

nhaehnle 14y ago
Of course, Bitcoin is also designed to charge a processing fee. This is currently optional, but it is entirely conceivable that this would change in the long run if Bitcoin ever sees adoption on a serious scale. This holds especially true given that mining awards will go down. Furthermore, services built on top of Bitcoin will have such charges as well. I don't think economics as a science has a consensus theory that has withstood serious empirical shakedowns for explaining how high such fees end up in practice.
- ceph_ 14y ago
  You know the bitcoin exchanges are taking a transaction fee in the same way the credit card companies are, right?
  - nhaehnle 14y ago
    I'm very much behind on this since you wrote that two days ago, but I wrote my initial reply in the mindset of "what if Bitcoin becomes more pervasive" - as in: it gets increasingly used as an alternate currency. But of course your point still stands for the world today, and that other world will probably never come anyway.
MichaelGG 14y ago
2% for all the fraud management seems like a fairly good deal all around.
- jimktrains2 14y ago
  Processors, issuers, and banks don't do fraud management for the merchant by default (though some banks may do it for the card holder). They _can_ do _some_ fraud management for merchants, but it costs an arm-and-a-leg.
  - nodata 14y ago
    > How quaint. You think processors, issuers, and banks do fraud management for the merchant. Sure, they _can_ do _some_ stuff, but it costs an arm-and-a-leg. Don't be a condescending dick, please.
    - jimktrains2 14y ago
      Sorry. Old peeve of mine with people thinking the CC network does more than it does.
  - MichaelGG 14y ago
    Even if it's for the customer, it's still a very good deal.