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This is really amazing. I hope your service receives a lot of success. One problem is that many people don't have bitcoin even if it is the best way to pay. Ma
by sferoze 12y ago
This is really amazing. I hope your service receives a lot of success.
One problem is that many people don't have bitcoin even if it is the best way to pay. Many people are uncomfortable buying bitcoins.
Amazon micropayment service lets you pay with credit card
transaction anywhere from $0.05 to $9.99 with a 5% + .05 cent transaction fee. Which isn't as good as bitcoin but it is still pretty good as far as credit card fees go.
https://payments.amazon.com/help/Amazon-Flexible-Payments-Service/Creating-Managing-Your-Account/Amazon-Payments-Fees https://payments.amazon.com/help/Amazon-Flexible-Payments-Se...
Many small micro-payments can really add up. This can be huge for content creators. I would really like to give tips to people who create educational science videos, open source software, open source hardware, write detailed tutorials for hardware and software projects, take the time to help me on forums, etc. Many content creators on the internet have helped me. I might not want to give a lot to each but I can give a small tip. Which can still make a difference to the creator if many people also do the same.
I think if they charged a fee for the tip it would be a more standard business model and people would not find it as exciting. It seems more direct to customer this way without the man in the middle dilemma for content creators. Also charging a fee in addition to the transaction fee would make it increasingly difficult to tip the creator a small amount. I think the fact they don't charge a fee on top of the transaction fee is out of necessity.
- jwomers 12y agoHi, thanks for the feedback! We agree that for now Bitcoins constrict us to a relatively small community - which is why we will be supporting credit cards in the near future! (And thanks for the link to Amazon micropayments +1!) We plan to launch with only Bitcoins, and shortly thereafter add on credit card payments to go more mainstream. Our mission is to enable anyone to tip any creator anywhere in the world - so educational content and others are definitely included in this! Music is just the starting point.
- sferoze 12y agoand maybe even for aid relief to charities in emergency situations
- StavrosK 12y agoHow are you guys going to do micropayments when Bitcoin transaction fees are like 50 cents?
- waterlesscloud 12y agoIt's currently about 4.5 cents (At current exchange rates), with plans to reduce that by an order of magnitude to 0.45 cents.
- battani 12y agoWhere did you get that figure? I'm curious because I've used APIs such as Blockchain and Coinbase and minimum fee is 0.0005BTC, which is about 25c.
- waterlesscloud 12y agoThe minimum fee was reduced to 0.0001 BTC about a year ago. Here's an article on the plans to further reduce the fee. http://www.coindesk.com/bitcoin-transaction-fees-slashed-tenfold/ http://www.coindesk.com/bitcoin-transaction-fees-slashed-ten...
- StavrosK 12y agoThanks for that, services I've used force you to around 30-40 cents, which is ridiculous. Good to hear it will be lowered.
- dpcucoreinfo 12y agoIt's complicated: the default fee is a bit like community consensus and this consensus has some inertia. Blockchain and Coinbase might still force you to overpay. Complain by sending support requests. Google: bitcoin default fee
- naveen99 12y ago> Many people are uncomfortable buying bitcoins. sorry, care to explain this further ? What is so uncomfortable about buying $10 worth of bitcoins for microtransactions ?
- elwell 12y agoThat would be a pretty cumbersome extra step, especially if it's your first time buying btc.