MachuPikacchu on Nostr: The price consumers are willing to pay for a good or service is partially a function ...
The price consumers are willing to pay for a good or service is partially a function of transaction costs. People usually won’t pay more than 2-3% transaction fees.
When on chain fees regularly cost as much as a cup of coffee it doesn’t make sense to make small purchases with bitcoin.
Once we get the UX for 2nd and 3rd layers dialed in then we may find ourselves in a world where a cup of coffee can cost 20-30 sats.
Published at
2024-06-12 13:51:31Event JSON
{
"id": "5738ca55cb8968e40676f6184fe69fce614dab1b5dc7a105b4bdd7bf2488e31d",
"pubkey": "1e908fbc1d131c17a87f32069f53f64f45c75f91a2f6d43f8aa6410974da5562",
"created_at": 1718193091,
"kind": 1,
"tags": [],
"content": "The price consumers are willing to pay for a good or service is partially a function of transaction costs. People usually won’t pay more than 2-3% transaction fees. \n\nWhen on chain fees regularly cost as much as a cup of coffee it doesn’t make sense to make small purchases with bitcoin. \n\nOnce we get the UX for 2nd and 3rd layers dialed in then we may find ourselves in a world where a cup of coffee can cost 20-30 sats.",
"sig": "7a5804665bc1497a32c93a670c70f88c1c945a6f624446cf54a3799cc367ffe69e7fff4ab35a16cc94867a9a584e5bb61d439f7a3350fe5aefffaffc7bd5dbe6"
}
