explain the cost difference between Lightning and credit cards.
Don't do that "cost comparison". Is kinda meaningless.
  • LN is The Payment Network for Bitcoin - YES, as VISA/MC is the payment network for fiat too.
  • LN have also fees, but are the way around, payer is paying the fees, not the merchant (in VISA case). And sometimes in fiat terms could be even higher than VISA.
  • LN is THE FINAL SETTLEMENT, not like VISA that takes up to 6 days to settle. And over LN there's NO CHARGE BACK ! This is key difference between LN and VISA.
  • LN is Bitcoin. Not a token, not a shitcoin, not something else. Over LN is always transacting sats (bitcoin) using HTLCs.
  • LN is self-custody (if you use proper wallets)
  • LN is private (no matter what haters says) and P2P.
I don’t appreciate the command. But thank you very much for the info. Final settlement is huge! I’ll definitely be adding that in when I mention Lightning. Yes, user pays the fee, that is a good point. I have only seen a few cents at most, where a CC company will charge 3% or $3.00 for just a $100 purchase.
Also, Matthew Kratter recommended offering to pay 110% for services done on your property or for any services/goods if they take BTC. I think this is a great idea. One could also give 10% discounts to customers who pay in BTC.
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One could also give 10% discounts to customers who pay in BTC.
I pay groceries and my beers in sats with a 10% discount (because I pay in BTC). See more about an adoption story I wrote some time ago.
When I onboard merchants I always tell them:
  • charge 5-10% more if customer pays with VISA (make them pay and feel the pain)
  • charge 3-5% more if they pay with bank transfer
  • charge with discount up to 10-15% if they pay with BTC. If you hold those sats, you will not regret it.
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I love his YouTube channel
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