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https://onchainsummer.xyz
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drewcoffman
@drewcoffman.eth
square raising fees by 5¢ a transaction might seem small, but it adds up fast for small businesses your local coffee shop selling 300 coffees a day? that’s $5k/year gone, and margins are already paper-thin we need an onchain economy that serves people, not middlemen
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Joshua Fisher ⌐◨-◨
@joshuafisher.eth
Is this additional 5k not worth it to have the best software and hardware? Isn’t that what this represents more than network costs since they are just running on Major CC settlement layer? How can Base help solve for this?
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pxaxm
@pxaxm
Yeah there's POS costs in here for sure Re: network costs. crypto/stables are cheaper right now because fraud risk is not priced in
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Joshua Fisher ⌐◨-◨
@joshuafisher.eth
Right and they are subsidized on Base but do think even long term under 2.5% is possible but don’t actually know. Otherwise the .15c is just a Square cost of business and I’m equally unaware of how much that cost can be lowered. I used a Brink POS and it was quite expensive with high monthly costs and don’t know if any cheap services. Just trying to think this through out loud
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