That does bring up an interesting point, though.
#[4] charges an 0.5% fee to transact on-chain. This is still much lower than credit card merchant fees.
If we can convince merchants to accept Lightning payments that don’t cost anything to send or receive, even when they eventually withdraw their balance it to an on-chain wallet, they come out far ahead vs. credit cards.
This needs to be emphasized more.
True but they need to withdraw to fiat to pay bills. There’s also that fee.
Maybe batch receipts from lightning tx and do weekly/biweekly/monthly cash out? My 2 sats from peanut gallery.
I guess it depends on how tight their margins are. If bitcoin makes up only a tiny percentage of their revenue, maybe cashing out early is impractical and it’s better to hodl it. If course, some businesses want to settle in cash on the same day to avoid price fluctuations.
No one said transitioning to a bitcoin standard would be easy.
