Founders

what sucks the most about building an onchain business today?

🕯️They/them. Scaled cos from 0-$300k in arr, 7-35 employees, 0-100k users. Now I make beautiful, functional, and ethically made candles at humankind.place

what do you think a ~fair number is? is there a non-zero % that isn't ass?

commerce

bringing /commerce onchain. protocol engineer. founder @slice @deframe

I had a detailed conversation with jacopo about it. I think I’m a unique case because I have to off-ramp to purchase physical inventory, unlike other businesses here.

I had a detailed conversation with jacopo about it. I think I’m a unique case because I have to off-ramp to purchase physical inventory, unlike other businesses here. 

https://warpcast.com/samantha/0x67c740a3

once you offramp, how do you make your payments? (are you getting hit with e.g. cc or paypal business fees or otherwise?)

wait but CC *payment* fees are typically 2-4% for the merchant so
1/ inventory merchant is paying this and
2/ so do you when a customer pays offchain? are you using stripe or something else to collect? https://stripe.com/pricing 2.9% + $0.30

assuming offramping is 1% (which i think is roughly accurate afaict) and there are ~no fees for onchain payments, you're actually coming out ahead quite a bit here? you could even try to convince your supplier to accept onchain payments and they would come out ahead as well?

what am i missing / misunderstanding?

I use my CC to pay for inventory, and then use a chequing account with the off boarded crypto to pay off the CC. Since I always pay off my CC balance I’m never hit with fees. 

If customers pay me in fiat theres obviously no off boarding fees. If customers pay in crypto there is! 

So I would think a fair rate is 0%. I don’t know about the other business models chains use to create profit and whether that 0% is fair to them.